LA Port of Executive Director says retailers are currently only about seven weeks left in the US-China trade war

• The fallout of the US-China trade war has begun. The Port of Los Angeles expects freight traffic to plummet until it reaches a tariff deal, but the Trump administration has not indicated whether negotiations are taking place. According to JPMorgan’s chief market strategist, time is running out.

The US-China trade war has begun, so say goodbye to the goods. Los Angeles Port predicts a I’ll take it down Imports from next week earlier have more than a third of the typical incoming freight traffic in total compared to a year ago.

“It’s a sharp drop in volume, with many major American retailers stopping all freight from China based on tariffs,” said Gene Celoka, executive director of LA Port. I said Above CNBC Tuesday morning.

President Donald Trump suspends his drastic tariff regime and places a comprehensive 10% tax on other countries, but he taxes more on China. He imposed a 145% tariff on China and retaliated with a 120% duty on American goods. No trade contracts have been made and it is unclear whether negotiations are taking place. Treasury Secretary Scott Bescent has it Please insert ONUS Come to the table in China and inked the deal. Still, less than half of the port’s business comes from China, Celoka explained. Until then, things may be dark.

“The next thing we see is that retailers have about five to seven weeks of full stock left, and then they have fewer options,” Celoka said. CNBC. That doesn’t mean the shelves will be empty, but in Seroka’s hypothesis, if you’re shopping for a blue shirt, you can see 11 purple shirts.

“No one can win,” he said. “China is an American factory,” he later said: “The pain can be felt on both sides of the Pacific Ocean.”

Bessent is repeated Called China’s tariffs are unsustainable as the country sells far more to the US than in other ways. He appears to believe China wants to de-escalate due to the exemption from the tariffs it introduced, but otherwise he is still threatening the escalation ladder. Nevertheless, according to recent LPL finance, the Trump administration NotesIt has a softer tone in China. Less than a week later, the president It floated Tariffs on Chinese products will be significantly reduced.

“We see what that means, but the tone of the settlement was enough to add fuel to the market recovery,” says LPL. So far, the three main indices are relatively flat in early afternoon trading.

Earlier on Tuesday, JPMorgan Asset Management Chief Market Strategist for the Americas and Gabriela Santos. I said CNBC“We run out of time to see the decline in Chinese tariffs.” Everyone knows tariffs are unsustainable, she said, but the market really needs to see them fall.

“We’re not talking about companies that are finding a higher price or a way to communicate that,” Santos said. “We’re talking about the actual disruptions in the supply chain.”

This story was originally introduced Fortune.com