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The head of the Port of Los Angeles says a major rebound in imports is unlikely following last week’s temporary tariff truce between the United States and China, which reduced tariffs from 145% to 30%.

“You won’t see a deluge of freight,” said Gene Seroka, executive director of the port. He expects only a slight increase in shipments from Asia, mostly due to importers rushing in goods produced before the steep tariffs were imposed in April.

The Port of Los Angeles, along with nearby Long Beach, handles 31% of U.S. seaborne trade and is a key indicator of economic activity. Since the 145% tariff hike on April 9, cargo bookings dropped sharply, with 74 ships arriving in the first half of May — 11 fewer than usual.

Seroka said import volumes were down more than 30% in the first week of May, and Long Beach port chief executive Mario Cordero predicted a more than 10% drop for the full month.

Retail demand, which drives about half of container traffic, is being hit hard. The average US effective tariff rate has climbed to 17.8% — the highest since 1934 — and consumers are starting to see price increases as companies pass on costs.

Walmart, the country’s top retailer and shipping customer, said it will raise prices and cut back on orders for goods that consumers won’t pay more for. That could lead to fewer product choices, supply shortages, and job losses, port officials warned.

“It’s clear that we’ll see a pullback in global trade,” Seroka said.

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