Port of Long Beach Headed for Record Breaking Year as Trade War With China escalatesRelease Date: 2018-07-31
By: Jason Ruiz
The Port of Long Beach had its busiest month ever in June, but an intensifying trade war could stunt the momentum seen at the port as goods shipped to and from China become increasingly expensive for consumers on both sides of the Pacific Ocean.
The port’s June report showed that container volume increased 14.2 percent compared to June 2017, with the equivalent of roughly 752,000 standard-size containers shipped to and from the facility, which was 4.4 percent higher than the port’s previous record month.
News of the record-setting month comes in the middle of escalating trade tensions between the Trump administration and China, with both sides levying tens of billions of dollars in tariffs and the administration threatening to ratchet those up to $200 billion in goods.
Two-thirds of the port’s revenue comes from trade, so anything that adversely affects that could have dire financial consequences for one of the nation’s busiest ports.
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