At the nation's busiest container port complex in Southern California, retailers have been front-loading goods ahead of a new round of tariffs.
Trade between the U.S. and China is already down significantly. During the first six months of this year, exports from the U.S. to China fell 18% from the year ago period to $55 billion. Imports of Chinese goods to the U.S. fell 12% to $235 billion.
All the ship traffic hoping to beat the tariffs is leading to record volumes at the Port of Los Angeles. As a result, containers are starting to stack up, potentially creating the same congestion headaches the port went through a year ago during the first round of tariffs. Commercial real estate services firmreports vacancy rates at local warehouses storing holiday goods are down to 1.7%, less than half the national rate. Soon there may be no space left, leaving containers stuck at the port.
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