- As peak trade season approaches, import volumes at the Port of Los Angeles fell 19% in May compared to April and 9% from a year ago as a result of President Donald Trump’s tariffs. The Port of LA’s executive director warns fewer shipments may mean higher prices on fewer available goods, starting for back-to-school shopping and impacting even winter holiday products.
Steep tariffs have continued to slash the volume of U.S. imports, and consumers have yet to see the brunt of their impacts, according to new data from the Port of Los Angeles and Yale Budget Lab.
Import volumes through the Port of Los Angeles, the country’s latest trade center, fell 19% in May compared to the month before and 9% from a year ago as a result of President Donald Trump’s trade policy.
Port of Los Angeles Executive Director Gene Seroka told reporters on Friday the higher prices as a result of tariffs will likely mean fewer, and more expensive, goods for consumers toward the end of the year…