By Lisa Baertlein LOS ANGELES (Reuters) -U.S. retailers have wrapped up imports of holiday goods at least a month early in a bid to limit costs tied to President Donald Trump’s evolving tariff policies, the top executive at the nation’s busiest seaport said on Wednesday. “Much of the year-end holiday cargo has already arrived and […]
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Holiday season imports have arrived early at busiest US port, executive says
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By Lisa Baertlein
LOS ANGELES (Reuters) -U.S. retailers have wrapped up imports of holiday goods at least a month early in a bid to limit costs tied to President Donald Trump’s evolving tariff policies, the top executive at the nation’s busiest seaport said on Wednesday.
“Much of the year-end holiday cargo has already arrived and is working its way through the national supply chain system,” said Port of Los Angeles Executive Director Gene Seroka.
The traditional retail-led holiday surge ahead of Christmas, known as the peak season, came early, he said.
Retailers account for about half of the volume at the Port of Los Angeles. In July, the port notched the highest total monthly cargo volume in its 117-year history with 1,019,837 20-foot equivalent units (TEUs) handled by dockworkers.
August total volume was 958,355 TEUs, down 0.2% from a year ago, at the Port of Los Angeles.
Seroka expects import volume to ease through the remainder of the year. September is shaping up to be roughly 850,000 TEUs, about 10% softer than a year earlier, he said.
Several trends are pointing to a ho-hum 2025 holiday season, forecasters said.
The National Retail Federation, representing companies like Walmart and Target, this month said it expected container imports to steadily decline for the remainder of the year due to rising U.S. tariffs.
“Shifting trade policies continue to create uncertainty for businesses and consumers,” said Mario Cordero, CEO of the Port of Long Beach, which abuts the Port of Los Angeles.
That is contributing to slowing job growth and lingering inflation, which are making importers and consumers just a little more cautious, Seroka said.
U.S. retail sales increased more than expected in August, marking the third consecutive month of gains against the backdrop of a tariff-fueled price increases.
But a PricewaterhouseCoopers survey released this month showed that holiday spending by U.S. consumers is set for its steepest drop since the pandemic as shoppers — particularly Gen Z — pull back amid economic uncertainty.
(Reporting by Lisa Baertlein in Los Angeles; Editing by Jamie Freed)