U.S. seaports experienced a substantial decline in imports in May, following the imposition of a 145% tariff on numerous Chinese goods by President Donald Trump. This drop in trade activity was highlighted in a report by Descartes Datamyne. The recent trade deal framework between the U.S. and China, which proposes a combined tariff rate of 55%, is yet to be finalized. According to data from IndexBox, the overall U.S. imports of goods from China decreased by 28.5% year-over-year in May.
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West Coast ports, which handle a significant portion of shipments from China, reported considerable declines. Long Beach imports fell by 20.9%, and Los Angeles saw an 8.5% decrease. In Washington, Seattle’s imports were down by 17.3%, while Tacoma experienced a dramatic 39.4% drop. On the East Coast, the Port of New York and New Jersey saw a 15.3% reduction in import volume. Norfolk, Virginia, and Wilmington, North Carolina, reported declines of 14.7% and 17.6%, respectively. Gulf of Mexico ports, including Houston and Mobile, Alabama, also witnessed decreases of 3.4% and 20.4%.
Despite the tariff reduction to 30%, importers remain cautious. The Port of Los Angeles, the largest in the nation, does not anticipate a significant surge in freight due to the still high costs associated with the tariffs.
