July 11, 2019
Port of Long Beach
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The U.S -China trade war intensified on Friday, jolting the stock market and sending a collective shiver of worry among Los Angeles retailers, distributors and manufacturers.
Feds say scheme played out at ports and in Southland warehouses
Chinese billionaire and founder of one of the world’s top aluminum companies has been indicted for evading $1.8 billion in U.S. tariffs on products he shipped in through the Los Angeles and Long Beach ports and stockpiled in warehouses around Southern California.
The ongoing trade war with China dampened volumes at the San Pedro Bay ports as imports declined 3.3% in the first half of the year compared to the same period in 2018.