Busiest US port hit by 7th straight month of export declines amid trade war
The nation's two busiest container ports, the Los Angeles and Long Beach, on Tuesday reported declines in export volumes in May, amid the ongoing trade war with China.
Shipping containers are stacked on a ship docked at Yusen Terminals on Terminal Island at the Port of Los Angeles in Los Angeles, January 30, 2019.America's top two busiest container ports, the Los Angeles and Long Beach, on Tuesday reported declines in export volumes in May amid an ongoing trade war withThe Port of Long Beach meanwhile registered ain May, which economists suggested may reflect big-box retailer concerns about inventory levels.
According to O'Connell, some retailers have simply run out of room to store new goods. The LA and Long Beach port complexes together handle about 40% of the nation's containerized import trade with China.in the Southern California region, as U.S. retailers sped up the import of goods from Asia's largest economy to avoid new tariffs and ensure they have adequate supplies for the winter holidays.
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