The Port of Los Angeles had its best month ever in August, but Executive Director Gene Seroka wasn’t sipping champagne during Tuesday’s press conference on volumes.
“One month or even one quarter does not make a trend,” Seroka said. “Despite this import surge that we’re seeing, the U.S. economy and global trade face significant challenges. Cargo volume remains down nearly 12% year-on-year through August. The trade imbalance has deepened, with American exports continuing to struggle. In my view, our economy remains in a very precarious position.”