Exports from California Surge in April
The anticipation is building surrounding new trade restrictions and that’s leading to stepped-up orders by companies seeking to get ahead of possible changes. Shipments to Asia picked up from the two biggest West Coast ports last month, primarily driven by anxiety.
In April, the ports of Los Angeles and Long Beach experienced a jump of 12% year-over-year of loaded container exports to 306,503 20-foot equivalent units, or TEUs. That represented the biggest export month at those ports since March 2017.
China receives roughly half of all exports processed by the two Southern California ports. Thus, the talk of trade tariffs and other restrictions between that country and the U.S. has escalated the level of uncertainty about future demand for Chinese consumers and U.S. exporters.
The largest U.S. trade gateways have seen shipment volumes to Asia rising quickly this year. The L.A. and Long Beach ports reported volume increased 6.6% from January to February. and again another 6.1% in March.
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Read more at Wall Street Journal.