President Donald Trump has imposed an additional 10% tariff on Chinese imports, alongside 25% tariffs on goods from Mexico and Canada, all scheduled to take effect March 4. Port of Long Beach CEO Mario Cordero joins Market Domination to discuss how this sweeping trade policy is affecting operations at one of America's busiest ports.
Cordero reports that the port is currently performing well due to multiple factors, including companies attempting to "get ahead" of the impending Trump administration trade measures. He also notes that current port activity is "reflective of the economy that we have here in the US," with consumer spending remaining robust, boosted by the holiday season.
While Cordero acknowledges that the previous Trump administration tariff strategy resulted in a 25% reduction in imports from China, he indicates that the impact of these new measures "remains to be seen."
"One way or the other, it is going to have an impact," he says, though he notes the port has not yet experienced any noticeable changes in shipping volumes or patterns.
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This post was written by Angel Smith