Port of Oakland officials are hoping that a recent jump in exports may signal there is an end in sight to the U.S.-China tariff standoff.
Exports at the Port of Oakland were up 10.8 percent in October, compared to the same month last year, port officials said.
The port’s import volume declined 4.6 in October, though it remains up 2.7 percent for the full year, officials said.
“Our export customers have demonstrated their resilience throughout this tariff standoff,” said Port of Oakland Maritime Director John Driscoll. “For their sake, we hope the conflict is resolved and overseas business can grow even more.”
The port shipped the equivalent of 87,393 20-foot export containers overseas last month. Most of the exports went to Asian markets including China, which is Oakland’s leading trade partner, port officials said.
The port attributed the export growth to continued strong Asian demand for high-quality U.S. goods, especially farm products, and increased shipments to neighboring countries to counter Chinese volumes depressed by tariffs.
Through the first 10 months of this year, Oakland exports were up 3.5 percent over last year, despite increased tariffs.
Total volume, which measures imports, exports and empty container repositioning, is unchanged year-to-date from 2018.