Ports on both coasts report a reduction in shipping on par with the one we saw during the COVID pandemic.
The Ports of Long Beach and Los Angeles have reported a dramatic forty-four percent decline in shipping compared with the same month last year. Shelves will be empty at big retailers, small and mid-size businesses that rely on Chinese parts and manufacturing will be crippled, while dockworkers and truckers are already losing their jobs. All over a trade war, only Donald "Two Dolls" Trump understands.
The two ports, which moved 20 million containers last year, are showing a 44% drop in docked vessels in the week of May 4 compared to last year.
"Every four containers means a job, so when we start dialing back, it means less job opportunity," Gene Seroka, port of LA CEO, told Bloomberg News Sunday, predicting a sharp decline in dock work for employees, no more overtime or double time and potentially less than 40 hours of work a week.
"Less containers, less jobs, less business for truckers," Cordero echoed the dire projection.
NBC4 LA
Previously:
• Coincidence? Unusual options activity before Trump's tariff reversal
• How Trump's tariff plan is lining his and Musk's pockets
• How Trump's tariff wall will punish small American businesses, kill US jobs, and benefit giant mulitnationals
