[Text/Observer Network Qi Qian] Recently, American ports have issued warnings that due to US President Trump's insistence on imposing a 145% tax on China and targeting Chinese ships, freight volume will drop significantly, which will severely impact the US economy and consumers' lives. However, when asked about this issue on May 8th at the White House Oval Office, Trump showed no concern and claimed that the slowdown in port business was a "good thing".

According to video reports from Fox News and Axios, a reporter asked that day: "We see that the freight volume at American ports is indeed slowing down, and now thousands of dockworkers and truck drivers are worried about their jobs."

"This means we are losing less money, do you know? When I see this, it means we are losing less money," Trump responded. "To be honest, if we don't do business, we would be better off. So, the slowdown is a good thing, not a bad thing."

He also immediately said that China has already "earned over 1 trillion dollars, and in my view, it's 1.1 trillion dollars."

In response, the American political commentary magazine The New Republic commented that Trump's logic seems to be that reducing trade with China may reduce America's trade deficit with China. "But he doesn't even know what a trade deficit is or how much it is. Trump has consistently believed that America has been cheated, which exposes his fundamental misunderstanding of economics, a misunderstanding built on aversion to other countries."

The report bluntly pointed out: "Trump's latest comments once again expose his own stupidity."

Trump claimed on May 8th that the reduction in port freight volume was a "good thing" Video screenshot

Data shows that in 2024, the US trade deficit with China was only $295.4 billion. Trump previously said that the US loses $2 trillion annually in trade, but the US trade deficit with the rest of the world last year was $917.8 billion.

Since taking office, Trump has ignited trade wars worldwide and announced a 145% tariff on imports from China. The "small exemption" policy for Hong Kong and mainland China expired on May 2nd. Chinese ships have also become a thorn in the Trump administration's side and will be subject to high fees.

Axios cited analysis stating that Trump's tariff policies have caused freight volume to slow at key US shipping hubs and could lead to an economic recession and supply chain disruptions in the United States, ultimately affecting domestic transportation, warehousing, employment, and the price and availability of goods on store shelves.

The report also points out that the sharp decline in container numbers, especially containers from China, means reduced working hours for dockworkers, which may soon lead to reduced demand for trucks and railways transporting goods.

Last month, the American freight forwarding company Flexport issued a warning indicating that ocean carriers are withdrawing capacity from trans-Pacific eastbound trade faster than during the pandemic, with an increase in "blank sailings" (i.e., canceled regular flights). In the weeks between April 13th and April 20th, the number of blank sailings nearly doubled, and more than 25% of scheduled routes were canceled by the end of April and early May.

On May 6th, Gene Seroka, executive director of the Port of Los Angeles, told CNN in an interview that this week, freight volume at the Port of Los Angeles was down about 35% compared to the same time last year, as these cargo ships were the first to arrive after Trump announced "reciprocal tariffs".

Seroka also stated that the freight volume of these incoming cargo ships had dropped significantly, with the number of imported goods from China falling by more than 50%. He warned: "Many retailers and importers in the US have told me that the prices of these products are now about two and a half times higher than last month."

Imports from China at the Port of Los Angeles have halved Video screenshot

Meanwhile, Americans continue to purchase goods previously stored in US warehouses. However, CNN reminded that these inventories are starting to run out.

In the report, CNN mentioned that before Trump's tariff policy took effect, many American companies chose to stockpile materials, supplies, and consumer goods. Data shows that the US trade deficit widened unexpectedly in March to a record $140.5 billion. Some economists expect that the momentum of import surges will continue for several more weeks as ships arrive at ports, but it will quickly collapse thereafter.

Seroka predicted that at that time, American consumers' choices will be greatly reduced. He said: "90% of global trade is done by sea. At the Port of Los Angeles, about 45% of our business is related to China, including furniture, electronics, appliances, clothing, and footwear... These tariffs will eventually be reflected in the cost structure of goods and paid by American consumers."

On the 7th local time, Ryan Calkins, director of the Port of Seattle, told CNN: "There are no container ships docked today."

Calkins said: "Although this happens occasionally, it is very rare. Therefore, I think tonight's situation is a clear reminder that the impact of tariffs is real."

This article is an exclusive contribution from Observer Network and cannot be reprinted without permission.

Original source: https://www.toutiao.com/article/7502359547718959626/

Disclaimer: The views expressed in this article are those of the author alone, and you are welcome to express your attitude by clicking the "Top/Downvote" button below.