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QINGDAO TODAY
在线翻译:
szdaily -> World Economy -> 
Imports fall at top US hub for China trade
    2019-07-15  08:53    Shenzhen Daily

THE Los Angeles and Long Beach port complex, the nation’s busiest and the No. 1 for ocean trade with China, handled 5.1 percent fewer inbound containers of cargo in June, as the Sino-U.S. trade tensions disrupt global supply chains.

Imports to the smaller Port of Long Beach dropped 13.7 percent from June 2018, more than offsetting the 3.5 percent gain at the Port of Los Angeles, which processed 396,306.5 20 foot equivalent units, a standardized maritime measurement for counting cargo containers.

June was the second month of import declines at the sprawling facility, which is in the midst of what is typically the peak season for inbound shipments of goods earmarked for winter holiday sales.

Logistics companies ranging from ocean shippers to parcel delivery companies are bellwethers for the global economy. Many have warned that the global economy is cooling, due in part to trade tensions.

May’s decline was largely due to China’s Cosco Shipping’s cutting volume at the Port of Long Beach, S&P Global Market Intelligence’s trade data firm Panjiva said in a recent report.

U.S. seaports booked record imports in 2018 after retailers rushed to bring in a swath of Chinese goods — including furniture, appliances and auto parts — before they were subject to new tariffs. Retailers stuffed warehouses to the rafters and are still working through that inventory.

“Retailers still want to protect their customers against potential price increases that would come with any additional tariffs, but with the latest proposed tariffs on hold for now and warehouses bulging, there’s only so much they can do,” said Jonathan Gold, the National Retail Federation’s vice president for supply chain and customs policy.

U.S. exports fell 3.4 percent year on year in June, the two ports said. (SD-Agencies)

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