Ports Hoping for Increase of Imports
The U.S. ports volume from Asia have declined 20 percent yet again this year, while the Gulf Coast imports have only declined 3.7 percent. Although there has been a decrease in all ports, retailers suggest imports will increase for the rest of the year up to 12 percent. The National Retail Federation stated “Retailers are optimistic about the holiday season since they don’t import merchandise unless they think they will sell it” as retailers stock up. The West Coast ports had seen more of a decline in imports caused by the continuous stoppage from the ILWU during negotiations with the PMA. Since both parties have ratified a deal this past month creating stability, the Port of Los Angeles director stated “the Southern California port complex will have no problem handling the anticipated muted peak-season volumes”.
Bill Mongelluzzo, S. E. (2023, September 18). Largest US ports record 20%-plus declines in Trans-Pacific imports. Journal of Commerce. https://www.joc.com/article/largest-us-ports-record-20-plus-declines-trans-pacific-imports_20230919.html