Port of Los Angeles says shipping volume will plummet 35% next week as China tariffs start to bite
1. Shipments from China to the U.S. are forecasted to drop over 35%. 2. Major retailers are halting shipments due to increased tariffs. 3. Port of Los Angeles expects canceled ships to rise by 25% in May. 4. Economists warn of possible recession due to reduced imports and layoffs. 5. Store shelves may face limited choices and price hikes on goods.