Experts Predict Nearly 7 Percent Growth in Asia-US Trade During ‘Pulse of the Ports Season Forecast’

Photo courtesy of Port of Long Beach.

Talks of trade and transportation took over the Long Beach Convention Center Wednesday as about 500 people gathered to hear industry experts discuss trends and their effect on the San Pedro Bay port complex during the Port of Long Beach’s 14th annual “Pulse of the Ports Peak Season Forecast.”

Despite talks of a looming trade war that could otherwise stop strong growth in the exchange of cargo between Asia and the United States, some experts felt trade was on the rise.

Mario Moreno, a senior quantitative economist for the maritime research consultancy Drewry, predicted trade between the U.S. and Asia will grow 6.8 percent in 2018, the fastest pace in more than six years. Moreno also estimated the overall U.S. economy will expand 2.8 percent.

Moreno added that while President Donald Trump and China have proposed higher tariffs, an all-out trade war between the two countries appears unlikely.

“Both nations have a lot to lose,” Moreno said. “Consumer prices would certainly go up here in the U.S., and the Chinese government would certainly retaliate by imposing tariffs of their own.”

U.S.-China trade accounts for more than two-thirds of imports and almost one-third of exports at the ports of Long Beach and Los Angeles.

“These are challenging but exciting times,” Harbor Commission President Lou Anne Bynum said. “We believe we’re in a good place for continued growth, but we know that there’s going to be game changers coming our way. The purpose of this event is to help us identify, anticipate and answer these challenges.”

A webcast of Pulse of the Port is available, along with the panelists’ presentations, at www.polb.com/pulseports.

Support our journalism.

Hyperlocal news is an essential force in our democracy, but it costs money to keep an organization like this one alive, and we can’t rely on advertiser support alone. That’s why we’re asking readers like you to support our independent, fact-based journalism. We know you like it—that’s why you’re here. Help us keep hyperlocal news alive in Long Beach.

Stephanie Rivera is the immigration and diversity reporter for the Long Beach Post. Growing up as one of six kids in the working-class immigrant suburb of South Gate, she was taught the importance of civic engagement and to show compassion for others. After graduating from CSULB with a degree in journalism, Stephanie worked for Patch Latino and City News Service before coming to the Long Beach Post in 2015. An avid Harry Potter fan, Stephanie now lives in Bixby Knolls with her boyfriend and their bearded dragon, Austin.
- ADVERTISEMENT -

More