Court Battle over Trump Tariffs Prolongs Shipper Uncertainty
(Reuters) – Importer uncertainty ahead of the vital holiday ocean shipping season remains high, the executive director of the busiest port in the U.S. said on Thursday, as a court battle broke out over President Donald Trump’s trade tariffs.
A U.S. Court of International Trade ruling late on Wednesday threatened to kill or at least delay the imposition of Trump’s “Liberation Day” tariffs on most U.S. trading partners, but a federal appeals court on Thursday temporarily reinstated those duties.
Gene Seroka, executive director at the Port of Los Angeles, said business is softer than usual going into traditional ocean shipping season for back-to-school, Halloween, Thanksgiving and Christmas merchandise.
He expects the port’s May volume to be down by double-digit percentages versus a year earlier, after 30% drops in the first and fourth weeks of the month.
For June, 10 scheduled vessel arrivals to the Port of Los Angeles have been canceled, including five in the first week of the month, Seroka added.
The federal appeals court on Thursday directed the plaintiffs in the legal challenge to the tariffs to respond by June 5 and the Trump administration to respond by June 9, meaning the uncertainty is likely to drag on.
“People are really wagering right now, ‘Do I put my order in at elevated tariff rates? Could something change over time?'” Seroka said. “There’s no surge coming our way.”
*Culled from Reuters News
A U.S. Court of International Trade ruling late on Wednesday threatened to kill or at least delay the imposition of Trump’s “Liberation Day” tariffs on most U.S. trading partners, but a federal appeals court on Thursday temporarily reinstated those duties.
Gene Seroka, executive director at the Port of Los Angeles, said business is softer than usual going into traditional ocean shipping season for back-to-school, Halloween, Thanksgiving and Christmas merchandise.
He expects the port’s May volume to be down by double-digit percentages versus a year earlier, after 30% drops in the first and fourth weeks of the month.
For June, 10 scheduled vessel arrivals to the Port of Los Angeles have been canceled, including five in the first week of the month, Seroka added.
The federal appeals court on Thursday directed the plaintiffs in the legal challenge to the tariffs to respond by June 5 and the Trump administration to respond by June 9, meaning the uncertainty is likely to drag on.
“People are really wagering right now, ‘Do I put my order in at elevated tariff rates? Could something change over time?'” Seroka said. “There’s no surge coming our way.”
*Culled from Reuters News
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