LOS ANGELES, July 14 (Reuters) -
Imports to the busiest U.S. seaport in Los Angeles rebounded
strongly in June as retailers moved to stock up on goods for the
holiday shopping season amid fears of higher tariffs.
The Port of Los Angeles handled 470,450 20-foot equivalent
units (TEUs) of incoming cargo last month after the U.S. reached
a tariff truce with China. That was almost 10% higher than a
year ago and contributed to record total volume for the month,
Port of Los Angeles Executive Director Gene Seroka said.
The June surge "highlights the tariff whipsaw effect"
from U.S. tariff policy, Seroka said. Last month's result was up
32% from May, when short-lived 145% import duties on China
pummeled that trade.
"We're seeing a peak season push right now to bring in
goods ahead of potentially higher tariffs later this summer," he
said, noting that year-end holiday cargo orders should already
be in with China manufacturers.
"What's going to be on its way is what we're going to
get. It's too late to try to negotiate orders at this point in
time for that year-end product."
Due to potential tariff increases and order timing, U.S.
ocean imports are likely to start dropping later this summer.
The National Retail Federation (NRF) has forecast double-digit
percentage declines in U.S. imports from August through
November.
President Donald Trump on Saturday threatened to impose
a 30% tariff on imports from Mexico and the European Union
beginning August 1, in the latest escalation of his trade war.
Los Angeles-based Yedi Houseware already has raised
prices about 10% and absorbed the rest of the tariff cost,
President Bobby Djavaheri said.
The company supplies China-made air fryers, rice cookers
and other kitchen goods to retailers including TJ Maxx
and Ross Dress for Less. Like many others, it is
prioritizing products - referred to as stock keeping units
(SKUs) - that sell quickly and reap the highest profits.
When it comes to Yedi's small electronics, "half of the
SKUs won't be available this year," Djavaheri said.