Recall the period when former President Trump boasted that trade wars were simple to win? Now, take a look at the Pacific Ocean, where currently no ships are sailing from China to California’s largest ports. According to CNN, the San Pedro Bay Complex appears as busy as a vegetarian steakhouse. Cargo volumes have dropped by 35-40% at Long Beach and 31% at Los Angeles. The last time it was this quiet was during the height of the COVID-19 pandemic when many were trying their hand at baking sourdough bread. Trump imposed a 145% tariff on Chinese imports, seemingly under the impression that international trade functions similarly to casino bankruptcies. Now, port officials anxiously monitor their screens, with Long Beach Port CEO Mario Cordero expressing concern. Meanwhile, Treasury Secretary Scott Bessent may reduce tariffs to 80%, a gesture akin to offering a softer punch in the face. The potential for empty shelves is looming on the horizon.
— new from Boing Boing
