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WASHINGTON — The impact of the U.S.-China trade war should be of concern to all U.S. ports of entry, Executive Director of the Port of Los Angeles Gene Seroka said at a panel at the National Retail Federation on Tuesday.
A report from the Port of Los Angeles found the U.S.-China trade war and current tariff lists threaten 1.47 million jobs and $186 billion in economic activity nationwide. In addition, the study found American marketshare, capital investment, research and development, and much-needed infrastructure upgrades are "at risk for every state due to tariffs."
"This study provides graphic proof that a trade policy relying on overuse of tariffs can rebound badly on America, causing more harm than good to our long-term economic health," Rufus Yerxa, president of the National Foreign Trade Council, said at the event.
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