U.S. ports are beginning to feel the effects of Trump’s 145% tariffs on Chinese imports, with cargo traffic dropping sharply and retailers warning of upcoming shortages. Executive Director of the Port of Los Angeles Gene Seroka told CNBC that shipments from China have "essentially ceased," with cargo expected to fall 35% next week. The Port of Seattle experienced a 20% increase in cargo traffic during the first four months of 2025, according to the Northwest Seaport Alliance. Retailers rushed to front-load shipments ahead of Trump’s tariff hike, resulting in record import activity earlier this year. Experts warn that these stockpiles are temporary, and companies will soon depend on limited inventories while awaiting further developments.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. ports are beginning to feel the effects of Trump's 145% tariffs on Chinese imports,
00:07with cargo traffic dropping sharply and retailers warning of upcoming shortages.
00:11Executive Director of the Port of Los Angeles, Gene Sirocco,
00:14told CNBC that shipments from China have essentially ceased,
00:17with cargo expecting to fall 35% next week.
00:20Port of Seattle experienced a 20% increase in cargo traffic
00:23during the first four months of 2025, according to the Northwest Seaport Alliance.
00:28Retailers rushed to front-load shipments ahead of Trump's tariff hike,
00:32resulting in record import activity earlier this year.
00:35Experts warn that these stockpiles are temporary,
00:37and companies will soon depend on limited inventories while awaiting further developments.
00:43For all things money, visit Benzinga.com slash GSTV.