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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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U.S. port executives warn: the rise in U.S. container imports is about to reverse.
Jin10 reported on May 8 that U.S. container imports surged in April as companies rushed to avoid Trump's tariffs, but executives at the two busiest ports in the U.S. indicated that this trend seems set to reverse in May. Supply Chain technology provider Descartes stated on Thursday that container imports in April rose 9.1% year-on-year to 2.4 million TEUs, marking the second-highest record for the month. However, Gene Seroka, executive director of the Port of Los Angeles, said he expects imports at the port to decline by 35% year-on-year this week. The Port of Los Angeles is the largest seaport complex in the U.S. Seroka added that due to weak demand, large shipping companies have canceled scheduled sailings, and vessel volumes in May may drop by about 20%. Mario Cordero, CEO of the Port of Long Beach, anticipates that cargo volumes in May will be down 20% compared to the same period last year. Descartes noted that the rapidly evolving trade policies in the U.S., retaliatory measures from U.S. trade partners, and ongoing instability in the Middle East and Eastern Europe have all increased the risk of global supply chain disruptions.