Tariffs continue to hamper trans-Pacific trade
The Port of Long Beach in July 2019.Port of Long Beach cargo volumes last month were down from the previous July, when the number of containers moved through the harbor neared 700,000 twenty-foot equivalent units (TEUs).
The July 2019 total, 621,780 TEUs, was 9.7% less than last year. Imports decreased 9.9% to 313,350 TEUs, and exports shrank 6.8% to 111,654 TEUs. Empties were 11% lower, at 196,777 TEUs.
“The trade war is hitting the West Coast hard,” said Port of Long Beach Executive Director Mario Cordero. “For more than a year, the supply chain has bent under the weight, and there’s very little give left. If the tariffs continue and escalate as planned next month, American consumers could see higher prices during the holiday season as businesses pass along their costs.”
Through July, more than 4.3 million TEUs have moved through the Port’s terminals, 7.2% fewer than at the same point last year.
July 2019 Container Trade in TEUs*
|July||Fiscal Year to Date***|