Trade frictions between China and the United States have pushed the throughput of the country's two largest ports to a record high
2019/4/6 view:
The ports of Los Angeles and long beach recently said they set a record for container throughput at their ports in 2018.
The port of Los Angeles, North America's busiest container port, handled 9.46 million TEU last year, the highest in its 111-year history and up 1.2 percent from the same period in 2017.
The neighboring port of long beach handled more than 8 million TEU for the first time, up 7 percent from the same period in 2017.
"It's an impulse to ship because of trade friction between China and the United States," said Gene Seroka, executive director of the port of Los Angeles. Direct trade with China accounts for more than half of the $284 billion in goods.
"A lot of people are worried that we will raise tariffs on certain items from 10 percent to 25 percent on January 1," Seroka said.
In late November 2018, the United States and China agreed to a 90-day ceasefire in a bitter trade war. Under the deal, the us would impose a 10 per cent tariff on $200bn worth of Chinese imports.
The news comes after many importers stepped up orders for everything from clothing to auto parts to avoid higher tariffs.
The national retail federation and Hackett Associates' global ports tracker expect U.S. imports to grow 5.3 percent in 2018 to a record 21.6 million twenty-foot equivalent units.
They expect growth in cargo throughput to slow in the first few months of 2019, partly because of reduced demand, but also because Asian factories will shut down for the lunar New Year, and imports will typically slow.
The port of Los Angeles, North America's busiest container port, handled 9.46 million TEU last year, the highest in its 111-year history and up 1.2 percent from the same period in 2017.
The neighboring port of long beach handled more than 8 million TEU for the first time, up 7 percent from the same period in 2017.
"It's an impulse to ship because of trade friction between China and the United States," said Gene Seroka, executive director of the port of Los Angeles. Direct trade with China accounts for more than half of the $284 billion in goods.
"A lot of people are worried that we will raise tariffs on certain items from 10 percent to 25 percent on January 1," Seroka said.
In late November 2018, the United States and China agreed to a 90-day ceasefire in a bitter trade war. Under the deal, the us would impose a 10 per cent tariff on $200bn worth of Chinese imports.
The news comes after many importers stepped up orders for everything from clothing to auto parts to avoid higher tariffs.
The national retail federation and Hackett Associates' global ports tracker expect U.S. imports to grow 5.3 percent in 2018 to a record 21.6 million twenty-foot equivalent units.
They expect growth in cargo throughput to slow in the first few months of 2019, partly because of reduced demand, but also because Asian factories will shut down for the lunar New Year, and imports will typically slow.
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