Port of LA Hits $30 Billion Trade Milestone in July

In July, the Port of Los Angeles achieved a historic milestone by surpassing $30 billion in two-way trade for the first time among U.S. ports, airports, or border crossings. This significant increase was largely driven by a 27.88% rise in imports from China, amounting to a $2.46 billion increase compared to June. Notably, the surge in imports included substantial increases in laptops and lithium-ion batteries, reflecting a growing demand for technology and electric vehicle components. The overall trade at the port rose by 13.27% from June and 23.69% from the same month last year, indicating a robust recovery in trade activities. In contrast, U.S. trade overall only increased by 3.83% from June to July. The data highlights China's pivotal role in U.S. trade, with a $2.57 billion increase in trade from June to July, overshadowing gains from other countries. Despite ongoing trade tensions and tariffs imposed during the U.S.-China trade war, the volume of trade has not diminished. Instead, the trade war has shifted the dynamics, with Mexico becoming the largest trading partner in terms of total trade value, while China remains a crucial partner for the Port of Los Angeles. The port's trade with China increased to 39% in July, reflecting a growing reliance on Chinese imports. This record-setting month underscores the resilience of the U.S. trade system and the importance of the Port of Los Angeles as a key gateway for international trade, particularly with China, amidst fluctuating global economic conditions.