The port’s executive director is expecting “a precipitous drop in volume” as American retailers hit the brakes on imports.

The Los Angeles port is expecting a 35% drop in cargo from Asia next week, Gene Seroka, the port's executive director, said in a CNBC interview on Tuesday. "It's a precipitous drop in volume with a number of major American retailers stopping all shipments from China based on the tariffs,

The Port of Los Angeles is expecting a 35% drop in cargo from Asia next week, the facility's executive director warned.