Southern California ports brace for less cargo, job cuts amid Trump tariffs
Ports brace for tariff turmoil
The Ports of Los Angeles and Long Beach are bracing for less cargo and job losses in the coming months.
LOS ANGELES - The trade shakeup from the White House is leaving businesses at local ports looking for some clarity.
The emotional and economic roller coaster may have been put on pause for most folks, but for the people who work at the Ports of Los Angeles and Long Beach, there is growing concern they could see lost jobs because of the continued trade war with China due to no pause on those increased tariffs.
More than half of the business they do here at the Port of Los Angeles in San Pedro is precisely with China.
Now the trade war will not only be affecting the prices you'll be paying for imported goods from China, but it also threatens jobs.
The port is already estimating at least a 10% drop in cargo from China this year, due to a 125% tariff imposed by the president.
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China in turn has also to increase their tariffs on products imported from the United States.
While over at the Port of Long Beach, where an estimated 64% of their business comes from China, they're already estimating a 20% loss in cargo volume this year alone, and, of course, that could translate into lost jobs at the port.
There's also concern for all the businesses here in California that sell to China. They simply don't have the margin of profit to absorb the tariffs.
Another level of concern is that China, not wanting to pay these tariffs for imported goods from the United States, will simply look to other countries, primarily in Latin America, to buy products from them that they once brought from us.
The trade war and the concern over these tariffs continues to grow.