Trump Says Slow Traffic at U.S. Ports 'Means We Lose Less Money'

Speaking Thursday from the Oval Office, president Donald Trump addressed concerns about reduced traffic at ports as a result of his administration's steep tariffs. "That's good. That means we lose less money," Trump said when consulted about the matter, dismissing the potential impact on dockworkers, truckers, and exporters.

The meeting at the Oval Office was scheduled to announce the broad terms of a trade deal with Britain.

Shipping data analyzed by Forbes on Tuesday revealed a significant drop in export volumes across nearly all major U.S. ports since tariffs were implemented in early April. The Port of Portland, for example, recorded a 50% decline, while the Port of Los Angeles and Port of Savannah saw export volumes fall by 17% and 13%, respectively.

These shifts have raised concerns among shipping executives, who warn that protectionist measures could suppress trade volumes and delay goods expected in the coming months.

"We haven't seen anything like this since the disruptions of summer 2020," Vizion CEO Kyle Henderson is quoted in the Forbes piece. "That means goods expected to arrive in the next six to eight weeks simply won't. With tariffs driving costs higher, small businesses are pausing orders. Products that once moved reliably are now twice as expensive, forcing importers into tough decisions."

Later in the meeting Trump was asked about companies' plans to raise prices because of tariffs. "I think they're saying that just to try and negotiate deals with me." If Ford raised prices, he predicted the company "wouldn't sell any cars." Trump also criticized the chief executive of Mattel for saying the toymaker would take action to counter the effect of tariffs. "We'll put 100 percent tariff on his toys," the president said, "and he won't sell one toy in the United States, and that's their biggest market."