Gene Seroka, Executive Director of the Port of Los Angeles, the busiest US container port and No. 1 hub for ocean trade with China, came out with the latest data that showed the Chinese imports to the US ports rose more-than-expected in June, Reuters reports.
The peak in the Chinese imports suggested that some retailers stocked beforehand to safeguard themselves amid escalating US-China trade tensions.
The volume of loaded shipping containers from China to all US ports was up 6.3 percent in June from a year earlier after falling 6.9 percent in May and 3.9 percent in April, the data showed.
Seroka’s data was sourced from IHS Markit’s PIERS and analyzed by Port of Los Angeles staff.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.