The Panama Canal saw a decline in activity in March with a 1.9% year over year drop in vessels crossing the canal. The performance of the canal was likely held back by the timing of shipments from China to the U.S. east coast, related to both the date of the lunar new year as well as the impact of U.S. tariffs. Imports from eight major Asian markets to the east coast increased by just 2.6% year over year in March while those to the west coast – which don’t need the Canal – climbed 6.0%.