[A trade war} “could devastate Southern California’s nearly $300-billion trade and logistics industry in the coming years, according to a Los Angeles County Economic Development Corp. report released Tuesday. The report, commissioned last year by the public policy group Southern California Leadership Council, comes as economists and business owners alike raise alarm about the toll an escalating trade war could take on the U.S. economy. Particularly in Southern California, home to the nation’s two largest ports, goods exchange with China — subject to the steepest of Trump’s tariff hikes — is a boon to local industry. Jeopardizing that long-term trade relationship could have severe consequences, former California governor and SCLC co-Chair Gray Davis said Tuesday in a news conference. “This is like having a winning sports team and deciding to trade all your players,” Davis said.
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Southern California’s trade and logistics industry in 2022 contributed nearly $300 billion in direct economic output and generated an estimated $93.3 billion in tax revenue, according to the development corporation’s report. The sector also supported nearly 2 million jobs, directly employing more than 900,000 workers with an average salary of more than $90,000, which was 26% higher than the average annual wage reported across Southern California.
