Port of Virginia CEO expects decline in Chinese imports over Trump’s trade war

Virginia Port Authority Executive Director and CEO Stephen A. Edwards said Thursday at this year’s State of the Port address that President Donald Trump‘s tariffs are causing significant uncertainty in the port and trade sector.

Speaking in Virginia Beach, Edwards said uncertainty over how long the president’s tariffs will remain in place is a matter that “every port, shipper, importer and exporter is wrestling with right now.”

In terms of U.S. dollars, China was the Port of Virginia’s top trade partner for imports and second for exports in 2024, behind Germany. According to the port, $9.23 billion in Chinese imports came through the Port of Virginia last year, and $2.91 billion in exports heading to China.

Trump has imposed 145% tariffs against Chinese goods, and impacts are already being felt in the United States, which relies heavily on Chinese parts and products.

Edwards told media after the address that he expects to see the impact of Chinese tariffs at the Port of Virginia this month, saying “there will be less cargo” arriving from China. However, he didn’t have percentage estimate for how significant the drop would be, saying only that it wouldn’t be as significant an impact as the West Coast.

“What we know is 20% of our freight is Chinese, and that that will have a reduction,” Edwards said. “I can’t give you the actual number today.”

CBS News reported in late April that the Port of Los Angeles, which receives roughly 40% of all imports from Asia, was beginning to see the flow of cargo slow. “Essentially all shipments out of China for major retailers and manufacturers have ceased,” Los Angeles Port Executive Director Eugene Seroka said, and Reuters reported Thursday that import cargo at the Port of Los Angeles is expected to drop 35% year-over-year this week.

The situation in Virginia is not as dire, Edwards noted. “So today, we’re in somewhat fortunate position of being the least exposed major U.S. port on trade with China. And we maintain a diverse mix of trading partners that support a strong and steady book of business.”

Nonetheless, port business is impacted by geopolitical warfare and other issues that maritime leaders have minimal control over, Edwards said. The port is in “a precarious global trade environment; shaped by geopolitics that I can’t control, that we can’t control.” He said the unpredictability is what unsettles businesses the most.

“Uncertainty makes companies pause, reconsider supply. And yes of course, that has ripple effects on us at the Port of Virginia. But I want to look at the fine print and how policy shifts actually hit the ground — or in our case, the docks.”

Hoping for new trade agreements

Around the same time as Edwards’s speech, it was reported that Trump had reached a major trade deal with the United Kingdom, or at least a framework for negotiating a deal. While Edwards said he hadn’t had the chance to read the deal, he appreciated having some certainty regarding a trading partner, and he hopes for more security in the future.

In his address, Edwards said the port is looking forward to the Trump administration forging new trade agreements in coming months.

Still, he said if tariffs change the nation’s trading portfolio, he’s confident the Port of Virginia will excel. He said the Hampton Roads region’s deep connection to the U.S. military means that the port moves more containerized cargo on U.S. flag ships than any other port in the country, which he said sets Virginia up “as a prime hub to grow with a stronger U.S. fleet.”

He also noted the port has made investments in infrastructure and equipment. Last year, the port achieved a major milestone completing the widening of its channels up to 1,400 feet at the Norfolk International Terminal. The deepening phase is expected to be complete late this year.

In terms of financials, Edwards said that since 2020, there has been a 53% increase in operating revenues, a 39% increase in operating expenses and a 112% increase in earnings before interest, taxes, depreciation and amortization.