The Port of Los Angeles has set a new record, becoming the first U.S. port to surpass $30 billion in two-way trade within a single month, according to recent U.S. Census Bureau data.
China plays a significant role in this accomplishment, accounting for nearly 37% of the trade through the port. However, with President-elect Donald Trump preparing to take office, economists are expressing concerns about potential ripple effects on international trade.
Trump has previously threatened to impose new tariffs on imports, a move that could impact strong trade relationships. Economists warn that such actions might lead to increased costs for consumers and strain economic ties between the U.S. and its trading partners.
The record-breaking trade figures highlight the importance of global commerce and the interconnectedness of economies. Many are watching closely to see how future policies might influence trade dynamics at major hubs like the Port of Los Angeles.
Reference(s):
cgtn.com
