In this episode of "Lots More," hosts Tracy and Joe interview Gene Seroka, the Executive Director of the Port of LA, to discuss the current state of imports and trade policy. Seroka reveals that import traffic is down, with fewer ships arriving and dock worker job openings decreasing. He attributes this to high tariff levels, which have caused many importers, especially small to mid-sized businesses, to halt new orders. The conversation explores how these tariffs impact businesses of different sizes, with smaller companies struggling to absorb the costs. Seroka also discusses the port's improved efficiency since the 2021 logjam, noting significant reductions in container dwell times. He anticipates that the slowdown in imports will lead to fewer product selections and potentially higher prices for consumers later in the summer. The discussion also touches on the importance of branding in the shipping industry and forecasting challenges amidst fluctuating trade policies.
