Nothing lasts forever.
The Port of Los Angeles saw its streak of 10 consecutive months of container volume growth end in May as the effects of Trump administration tariffs hit imports and exports.
The southern California gateway processed 716,619 twenty foot equivalent units (TEUs) in May, off 5% from the same month in 2024. After 10 straight months of year-over-year growth, overall cargo volume slowed due to the impact of tariffs on both imports and exports.
“May marked our lowest monthly cargo output in over two years,” Port of Los Angeles Executive Director Gene Seroka said in a media briefing. “While May volume is typically stronger than April as we approach our traditional peak season, our imports dropped 19% compared to last month.
“Unless long-term, comprehensive trade agreements are reached soon, we’ll likely see higher prices and less selection during the year-end holiday season,” Seroka said. “The uncertainty created by fast-changing tariff policies has caused hardships for consumers, businesses and labor.”
The Yale Budget Lab said tariffs would raise average prices by 1.5%, a loss in purchasing power of nearly $2,500 per household per year, according to the Lab’s Director of Economic Ernie Tedeschi, on the briefing. “But that impact isn’t the same across all families or products: lower-income and working-class families see a bigger hit than higher-income families, and products more likely to be imported like shoes, apparel, and consumer electronics will see double-digit percent price increases.”
May loaded imports totaled 355,950 TEUs, a slide of 9% y/y. Loaded exports were 120,196 TEUs, down 5%. The port handled 240,472 empty container units, up 2% from a year ago.
Year to date, Los Angeles has handled 4,063,472 TEUs, a modest 4% more than the same period in 2024.
Find more articles by Stuart Chirls here.
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