The Port of Los Angeles recorded a significant downturn in November, with import volumes falling by 11.5% compared to the same month last year.

The latest announcement by the port mentioned that the facility handled 406,421 TEU of imports during the month. Export activity also weakened, dropping 8.4% to 113,706 TEU.

Executive Director Gene Seroka attributed the decline to shippers building inventories earlier in the year to avoid tariffs on goods such as toys, auto parts, and metal furniture.

In a press briefing, Seroka noted that retaliatory tariffs on US agricultural and manufactured goods, combined with trade agreements excluding the United States, have contributed to this trend.

Despite these fluctuations, Seroka expects total throughput for 2025 to exceed 10 million TEU, aligning with 2024 figures and marking the third-highest annual volume on record.

Constance Hunter, Chief Economist at the Economist Intelligence Unit, who joined the press briefing, highlighted several risks for 2026, including tariffs, geopolitical risks, and rising fiscal deficits in developed economies.

Geopolitical concerns cited by Hunter include instability in the Middle East, ongoing conflict between Ukraine and Russia, and tensions surrounding China and Taiwan.

According to a Reuters report, imports declined by 7.8% year-on-year in November across all US ports. This broader drop was linked to reduced demand for goods from China and one fewer day in the Thanksgiving holiday period.