The Port of Los Angeles anticipates a significant drop in import volume due to President Trump's tariff policies, leading to potential shortages on store shelves in five to seven weeks. CEOs are hesitant to import more goods, leading to uncertainty affecting hiring and capital investments. With fewer container shipments, job opportunities for dock workers and truckers are declining. Even with possible tariff negotiations, delays in shipping could impact seasonal sales, contributing to economic uncertainty and raising concerns among small businesses and larger corporations alike.
CEOs are telling me, 'Hit the pause, I'm not going to import any more at these kind of prices. Let's wait and see,' said Gene Seroka.
Retailers are saying we've got about five to seven weeks of normal inventory in the country right now, then we start to see spot shortages.
Every four containers mean a job, so when we start dialing this back, it's less job opportunity, emphasized Seroka.
Even if the Trump administration reaches deals to lower tariffs, it would take about a month for container freight ships to be repositioned.
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