LOS ANGELES—The amount of U.S. goods exported by the Port of Los Angeles will hit a 16-year low this year, continuing a four-year downward spiral. This month, exports have decreased nearly 40 percent, Port of LA Executive Director Gene Seroka announced at a news conference Dec. 15. The plunge, Seroka said, was a result of trade policies with China and the strength of the U.S. dollar. “The strength of the U.S. dollar, which is so important to us at home, makes us less competitive against other trading nations,” he said. The dollar remained at its highest level since July 2020 this week and economists expect it to continue to rise. Consumers have purchased a record-number of goods—including cars and electronics—from foreign countries this year than the U.S. has exported, according to the U.S. Commerce Department. In September, this helped create a record trade deficit of over $81 billion, which was …
LA Port Sees Huge Drop In Exports
December 17, 2021
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