Container handling through California’s largest three ports rose by just 0.1% on a year earlier in May, the worst non-seasonal move since September 2016 when Hanjin Shipping’s future was in doubt. Los Angeles saw a 3% drop and Oakland 5% due to lower exports, though Long Beach saw a 20% surge in outbound traffic. As a result statewide exports rose 4% vs. imports’ 2%. The latter represented a second month of 2% growth after a 6% rise in the first quarter due to a slowdown in traffic from China. The latter was unchanged on a month earlier and is likely to fall further. Wide-ranging tariffs...
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