Gene Seroka, Executive Director of the Port of Los Angeles, shares more on the port's busiest month in history due to frontloading, and his view on the Trump Administration's consideration to take equity stakes in private companies.

Los Angeles

The Port of Los Angeles has achieved record container volumes, moving over one million TEUs in a single month for the second time. This comes during a period of significant volatility driven by global trade tensions and tariff policies, which have caused cargo volumes to fluctuate sharply. Port officials credit advanced planning tools and the adaptability of workers for managing these surges without major disruptions.

While the port has seen a decrease in the proportion of business with China, dropping from 60% to 45%, overall volumes have continued to grow. The port is responding to shifts in cargo sourcing and manufacturing by maintaining competitive shipping services and focusing on expanding exports, particularly in agriculture and manufactured goods. Officials remain committed to positioning Los Angeles as a key gateway for both imports and exports.

Frontloading may have peaked, but we're not done yet: Port of LA

specific hard numbers here. The record for July 1,000,020,000 T. E. U. S. Did you ever think that in right in the thick of a global trade war, you'd be looking at volumes like that. Good morning, Marty and Sherry. And it's been a roller coaster of a year. It's not done just yet, as we've proven. When hard tariff policy comes out, cargo plummets when that policy is softened and deadlines extended. We've seen some pretty good pickups, and that million T. E. U. Month was the second here at the port of Los Angeles. We're the only ones to have done that. So proud of the dock workers, truckers, terminal operators and railroads to be able to see upstream, plan the skilled labor for those arrivals and move all that cargo in and out without one backup. So, Gene, it sounds as though volumes have been sort of coming in the surges. I mean, traffic is almost sort of manic, right? Does that make it harder to handle, though? It sure does, Marty. And thanks to the port optimizer that we co developed with Web tech, we can now see cargo 40 days before it arrives in Los Angeles. So we weren't gonna get caught off guard, but it's the up and down the constant answering of the bell that these dock workers and others have had to show every time we've seen an uptick really shows our metal and that planning goes in days in and days out, whether it's preventative maintenance when the volume is low or running the gamut on hours worked when it picks up. It's been a very unique year thus far. Gene, I'm gonna go off on a slight tangent, but bear with me here. You probably agree that the poor Los Angeles any major port in the U. S. Is is a critical node in global supply chains, right? Not just important for for the United States. Because of that, I'm just thrown it out there, right? How do you feel if you got a call from the White House saying that they'd be interested in taking a stake in the port of Los Angeles? Well, by California law and city charter here in Los Angeles, that port property is held in trust by our city. I don't know that we really have shares to give out to anyone. Okay. Um, I have to say that was a great question. That was a great response. But do you think about long term supply chain shifts? And obviously, you need to sort of a brace for it beyond the 2025. Do you worry that higher tariffs pretty much across the board? Because that is really the outcome that we've been getting from these trade negotiations right at the highest level of tariffs since the 19 thirties. So that could actually eventually lead to a decrease in the shipment in volume to the United States to Los Angeles. And that can be only negative to your business. No. Sherry, that's a great question as well. And what we saw a little bit of a trial run on this very subject back in 2018 when the first tariff policy went into place. And what we witnessed was at that point in time, China represented 60% of our business portfolio here at the port of Los Angeles. Today, it's 45 and dropping. Yet we've still grown over that time. We're the only port in the Western Hemisphere to move 10 million container units over the course of 12 months. And we've now done that twice and coming up on the outlook that we have, even though you're seeing that shift of cargo sourcing and manufacture to Southeast Asia. Shipping lines have put in nonstop services, keeping us competitive. That speed component has always been a very important part of our strategy, and it remains. But the work is not done. We're gonna chase every kilo of cargo that we can in making sure that we're the gateway of choice. And we've still got a lot of upside on the export part of our business. Agriculture, manufactured products, etcetera. Coming out of these trade framework deals, the United States administration in Washington wants to do more business on that export side. Let's use this gateway and get deeper penetration into current markets and new ones for these farmers and factories to get more business.

As the Israeli military gives an initial assessment of deadly strikes on a Gaza hospital, hundreds of thousands of protesters urged Prime Minister Benjamin Netanyahu to accept a ceasefire with Hamas in exchange for a hostage deal.

Tel Aviv-Yafo

Middle East Conflict

Protesters urge Netanyahu to reach hostage deal

Cracker Barrel says it will go back to its old logo after facing intense backlash and seeing its company value to sink by nearly $100 million after switching to a new design last week. In a statement, Cracker Barrel thanked their guests for sharing their voices.

Cracker Barrel scrapping new logo, returning to old one after backlash

The small West Tennessee town of Mason, just 2 square miles in size, is home to about 1,000 people. But its residents are now divided by what a new immigration detention facility will mean for the area.

Mason

Small Tennessee town divided over new ICE detention facility

SpaceX launched its Super Heavy-Starship from Texas on Tuesday for the rocket's tenth test flight. The previous three launches ended in catastrophic in-flight failures.

Starbase

SpaceX Super Heavy-Starship lifts off from Texas on 10th test flight

Nationwide protest saw tens of thousands of Israelis take to the streets to demand an end to the war in Gaza and see the remaining hostages released. The demonstrations come against the backdrop of global condemnation of an Israeli attack captured live on television.

Nationwide protests erupt in Israel demanding hostage deal and end to Gaza war

A standoff is brewing between President Trump and economist Lisa Cook. Mr. Trump tried to fire her, claiming "there is sufficient cause" to believe that Cook made false statements on one or more mortgage agreements.

Washington

Trump clashes with Fed board member Lisa Cook, pushing to oust her

Protesters demanding an end to the Gaza war and the return of hostages to their homes took to the streets in Israel on Tuesday ahead of a security cabinet meeting scheduled for the evening.

Israeli protesters demand hostage deal as cabinet set to meet

Australia accused Iran on Tuesday (August 26) of executing two antisemitic arson attacks in the cities of Sydney and Melbourne and gave Tehran's ambassador seven days to leave the country, its first such expulsion since World War Two.

Council of the City of Sydney

Australia expels Iranian envoy over antisemitic attacks

President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook, the only Black woman to serve on the board. Critics call it an attack on the Fed's independence, while Cook says no legal cause exists for her firing.

Trump says he fired Lisa Cook from Federal Reserve board

U.S. President Donald Trump signed an executive order creating new National Guard units, including a rapid-response force to handle what the administration calls civil disturbances.

White House authorizes creation of rapid-response National Guard units

Billionaire entrepreneur Elon Musk’s artificial intelligence startup xAI sued Apple and ChatGPT maker OpenAI in U.S. federal court in Texas, accusing them of illegally conspiring to thwart competition for artificial intelligence.

Texas

Rise of AI

Elon Musk's xAI sues Apple, OpenAI over competition claims

Strikes on the Nasser hospital in Gaza that left at least 20 people dead, including rescuers, journalists and health-care workers are being met with global outrage. The Israeli military is investigating what Israel Prime Minister Benjamin Netnayahu called a ‘tragic mishap.’

Israeli PM calls deadly strikes on Gaza hospital a ‘tragic mishap’

Kilmar Abrego Garcia is back in ICE custody and is facing deportation to Uganda, the Department of Homeland Security says, after he was released from criminal custody last week.

Baltimore

Abrego Garcia in ICE custody, court blocks immediate deportation

Ukrainian President Volodymyr Zelenskyy said he will meet with the U.S. and other countries this week to discuss a potential meeting with Russian President Vladimir Putin aimed at reaching a ceasefire.

Kyiv

Ukraine Invasion

Zelenskiy say he will meet with U.S., others on potential Putin talks

U.S. President Donald Trump says Chicago could be the next city to see National Guard deployment, sparking strong opposition from Mayor Brandon Johnson and Governor JB Pritzker, who argue crime is already falling and federal intervention is unnecessary.

Chicago

Trump threatens to send National Guard troops to Chicago

Four journalists working with Reuters, Al Jazeera and others were killed in explosions at a Gaza hospital. Gaza officials blame Israeli drone strikes, though CBS News has not independently verified the claims.

Jerusalem

Four journalists reported dead after Gaza hospital blasts

U.S. National Guard troops patrolling the streets of Washington D.C. as part of what President Donald Trump said was his crackdown on crime began carrying weapons on Sunday night, two officials said.

National Guard patrolling Washington DC begin carrying weapons

In a visit to Kyiv, Prime Minister Mark Carney affirmed Canada’s support for Ukraine and committed to sending soldiers if a ceasefire with Russia is reached.

Carney in Kyiv pledges support, possibly troops for Ukraine

The Pickett Fire is growing in California's Napa County, prompting new evacuations as it threatens homes and wineries. The flames, fueled by scorching temperatures and dry conditions, are being battled by hundreds of first responders.

Napa Valley

Evacuations ordered in California as heatwave fuels wildfire

Democrats are pushing back against President Trump's plan to send the National Guard to more cities, including Chicago, New York and Baltimore, as troops continue to patrol Washington, D.C. State and local leaders say they have crime under control.

Democrats slam Trump's plans to send National Guard to more cities

Beef prices are at record highs with the average price of a pound of ground beef topping $6. Lisa Rozner reports on what's causing prices to soar.

Why U.S beef prices are soaring

A defiant Ukraine marked its independence from the former Soviet Union Sunday amid more fighting with Russia. Chris Livesay reports on how world leaders joined in, voicing their support.

Ukraine marks its Independence Day as war with Russia continues

The boats are produced by unknown Turkish companies and are then sent disassembled in multiple shipments to avoid suspicion in what authorities say is for the sole purpose of trafficking migrants across the English Channel.

Sofia

Inflatable boats used for migrant trafficking seized

Less than 24 hours after he was released from jail, Kilmar Ábrego García was told that U.S. immigration officials plan to deport him to Uganda. The Salvadoran national, who has been living illegally in the U.S. since about 2011, was wrongly deported to his home country earlier this year.

Maryland

Kilmar Abrego Garcia told he may be sent to Uganda

Erik and Lyle Menendez remain behind bars, their hopes for release dashed by two separate parole boards more than three decades after murdering their parents. Elise Preston reports.

Erik and Lyle Menendez denied parole

Tourism in Las Vegas is slumping this summer, costing the city billions. That could signal trouble ahead for the U.S. economy. Andres Gutierrez has new details.

Las Vegas

Las Vegas tourism slumps this summer, signaling trouble for U.S. economy

Texas Republicans took a victory lap after an early morning vote Saturday that sought to give their party an edge during the 2026 midterms. Democrats in Texas plan to challenge the legality of the new congressional map, saying it dilutes the power of minorities.

Austin

Texas Republicans take victory lap after redistricting vote

Israel has called the United Nations' declaration of famine in parts of Gaza an "outright lie," but multiple U.N. bodies, more than 100 humanitarian groups, and several of Israel's own allies have warned for months that the war is causing starvation among civilians.

Israel denies U.N.'s declaration of famine in parts of Gaza

U.S. President Donald Trump says he will impose sanctions on Russia if it fails to reach a peace deal in Ukraine within two weeks. But Ukrainian President Volodymyr Zelenskyy says Russia’s ongoing attacks on his country show that President Vladimir Putin is not interested in peace.

Putin’s not interested in peace talks, Zelenskyy says

Lyle Menendez was denied parole late Friday night following a day-long hearing in California, just one day after his brother Erik's parole appeal was also rejected. The brothers have been in prison since 1996 for killing their parents in what they say was an act of self-defense.

Breakdown