Trade Uncertainty with Canada, Iran War Threaten Freight Volume at Port of Seattle

Port imports down over 20% in 2025, with further declines in 2026 as energy price spikes and U.S.-Canada trade tensions impact cargo shipments.

Published on Mar. 11, 2026

Got story updates? Submit your updates here. ›

The Port of Seattle Commission President Ryan Calkins expressed concerns that a spike in maritime fuel costs due to the U.S.-led military campaign against Iran, as well as ongoing trade tensions with Canada, could lead to further declines in freight volume at the port. Port imports were already down over 20% in 2025 compared to the previous year, with additional drops in the first months of 2026.

Why it matters

The Port of Seattle is a key economic driver for the region, handling billions of dollars worth of cargo each year. Declines in freight volume could have ripple effects across industries and impact jobs and economic activity in the Seattle area.

The details

Calkins said marine gas prices have spiked from $700 to $1,200 per ton due to the U.S. military campaign against Iran, which could further reduce freight shipments. The port also faces uncertainty around the future of the U.S.-Canada trade agreement, with a mandatory review coming up in July that could lead to the deal being terminated with 6 months' notice.

  • Port imports were down over 20% in 2025 compared to the previous year.
  • Further declines in port freight volume occurred in the first months of 2026.

The players

Ryan Calkins

Port of Seattle Commission President who expressed concerns about the impact of rising fuel costs and trade tensions on freight volume at the port.

Craig Weichel

Canada's counsel general to Washington, Oregon, Idaho and Alaska, who said many Canadians were "genuinely shocked" by the Trump administration's tariffs on Canadian goods.

Riley Bushue

Vice president of the Northwest Horticultural Council, who noted that Washington-grown apples, pears and cherries are exempt from the tariffs on Canadian goods.

Got photos? Submit your photos here. ›

What they’re saying

“Marine gas is sold by the ton, and it's gone from approximately $700 per ton to $1,200 per ton between Friday and Tuesday, due to Operation Epic Fury, the U.S.-led, joint military campaign with Israel against Iran.”

— Ryan Calkins, Port of Seattle Commission President (dailyfly.com)

“A lot of Canadians were genuinely shocked. I know I was.”

— Craig Weichel, Canada's counsel general to Washington, Oregon, Idaho and Alaska (dailyfly.com)

What’s next

The United States, Canada and Mexico will conduct a mandatory review of the United States-Mexico-Canada Agreement in July, which could lead to the trade deal being terminated with 6 months' notice.

The takeaway

The Port of Seattle, a critical economic engine for the region, faces significant headwinds from rising fuel costs due to the U.S. military campaign against Iran as well as ongoing trade tensions with Canada. These factors could further depress freight volume at the port, with broader implications for industries and jobs in the Seattle area.