As U.S. ports go, so goes the U.S. economy

You’ve heard it from Donald Trump. You’ve heard it from Bernie Sanders. Hillary Clinton chimed in. Some famous economists, too. It’s the idea that trade liberalization has sapped U.S. economic strength, and that it’s time to make it stop.

Flourishing U.S. ports tell a different story. Business is booming, and the unprecedented quantity and quality of port commerce announces their role as a leading indicator of America’s strengthening job market and her robust consumers.

Los Angeles and Long Beach, the continent’s two biggest gateways, reported the best February traffic in their histories going back more than a century. Total imports to the U.S. last month increased 27.4 percent from 2015, the most since 2010. Everything from furniture and electronics to apparel and machinery unloaded and distributed via Los Angeles surged 46.6 percent in February, the largest increase since February 2002. Long Beach traffic was up 44.7 percent in the same period, its biggest monthly gain since 2013.

This means that the economy is healthy and poised to get better, benefiting from trade that is expanding big and small businesses alike while creating more and higher-paying jobs.

Read more: Bloomberg View


Matthew Winkler | Courtesy of Matthew Winkler/Twitter
Winkler

Matthew Winkler is the founding editor and editor-in-chief emeritus of Bloomberg News. He writes about markets. You can follow Winkler on Twitter at @Matthew_Winkler or find his past work in his archive.


Tags:

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students