FreightWaves CEO Craig Fuller says he hopes he is wrong, but data is showing the freight market is heading into a recession. Who will feel the impact and the facts […]
Volumes took a nosedive after the tariffs increased and are starting to recover slightly, but the damage may already be done.
Today on FreightWaves Now, we are seeing crazy times with volatility. It’s still snowing in the Sierras and storming in the midwest. Volumes have fallen off a cliff right when […]
The trade war between China and the U.S. is having a noticeable impact on freight markets. Shippers and carriers are struggling to adapt.
Today on FreightWaves Now, we have snow in the Sierras and trouble in the midwest. Ports on both coasts prepare for another pull forward ahead of tariffs as the trade war rhetoric escalates.
Beijing has sworn to institute countermeasures to combat a huge increase in tariffs, from 15 percent to 25 percent, that have been imposed by Washington on $200 billion worth of a wide range of Chinese goods. A set of high-level, last-minute, talks yesterday to postpone or prevent the tariffs failed.
U.S.-China trade tariffs war is heating up; Asian oil importers have not stopped importing oil from Iran; Uber has a staunch rival in Ola across the Indian market.
White House makes sudden u-turn on tariff truce, upsetting calm in financial markets. President Donald Trump ended the spring truce in the U.S.-China trade war this weekend, with threat to […]
The following findings were compiled by DHL from more than 8,500 responses.
The inbound container flows had a big impact to freight volumes in the port cities of Savannah and Los Angeles this past year.
The U.S. is proposing $11 billion in tariffs on European Union goods because of allegations that Airbus received that amount of subsidies when it launched the Airbus 380, thereby harming U.S. interests. Read Jesse Cohen’s explanation of the articles proposed for tariffs and what the tariffs might do to the air cargo and maritime industries.
Talks between the U.S. and China have made significant progress over the last several weeks, and the two sides appear to be closer to a deal than at any time over the past several months. However, while the restoration of positive trade relations will help the trade outlook, other factors are likely to keep trade growth subdued going forward.
Political tensions in the Washington-Beijing bilateral relationship are making the China-based U.S. business community uneasy. Tariffs are being blamed for driving business confidence down, decreasing investment and for re-routing Asia-Pacific supply chains.
The U.S. trade deficit in goods widened to a record in December 2018 as a sizeable decline in goods exports was paired with a jump in goods imports. This reversed the decline in the deficit from the previous month, and the drop in goods exports sent yearly growth into negative territory for the first time in over two years.
Stifel’s head of equity strategy thinks the stock market will be weak for the next decade and that the federal government will default on debt unless it can force access into Chinese markets.
Marten Transport and other public truckload companies could make a good stock investment if historical trends hold, says an analyst from Stephens.
Foxconn Technology Group (OTC US: FXCNY) created more uncertainty for its suppliers on Friday when it announced that it’s recommitting to building a liquid crystal display monitor (LCD) factory in Mount Pleasant, Wisconsin according to the Wall Street Journal.
Missing USDA data on wheat stockpiles has traders reacting cautiously.
In partnership with Slync… There are numerous reasons to be worried about the health of global trade and the goods economy, even though, in our view, a full-on macro-economic recession in the United States is still unlikely.
U.S. Chamber of Commerce president Tom Donohue threw down $25,000 for ideas on how to pay for infrastructure. And told Washington to open back up.
The U.S. – China trade war continues to disrupt freight movements into the new year.
The third week of the partial Federal government shutdown is impacting U.S. agriculture. Without full funding, the U.S. Department of Agriculture (USDA) is not providing some real-time information, full financial support, or some critical services for farmers and ranchers.
China announced wide-sweeping changes to its import and export tariffs over the Christmas break; Australia-based expert China-watchers are divided as to Beijing’s motivations and what it might mean for Australia. Photo: Shutterstock.
U.S. equity futures tumbled and stocks slumped across Europe and Asia after evidence of slowing Chinese growth dashed investor hopes for an upbeat start to 2019.
EU guns towards a new regulation that forces fleets to provide minimum wages to drivers; OPEC meets today over oil price turmoil and production ceiling; China agrees to resume U.S. soybean and LNG imports.
As far as investors are concerned, the trade war is effectively back on.
It seemed like the stuff of posturing and hot air. It was hard to see anything substantive changing from the weekend meetings of the G20 nations in Argentina. Will something more than kicking-the-can come from the concessions?
Executives from MoLo, Steam, and Arrive gave insight into the complexity of West Coast freight market volatility, which goes beyond tariffs, and talked about how brokerages and shippers are responding.
In a normal year, the Port of Oakland stands out from other U.S. ports for exporting more than it imports. Not this year.
EPA is looking to update pollution regulations for commercial trucks after 20 years; oil prices fall to one-year lows; U.S. import levels have declined slightly across all major retail container ports.
The U.S.-China trade war has brought misery to the thriving U.S. lobster industry, which is now feeling the heat of an additional 25% tariff that Beijing slapped on its live and processed lobster exports to China.
More of the same. That was the consensus in a quick informal poll of listeners to FTR’s State of Freight webinar on Thursday when they were asked what the most likely outcome was for the U.S. economy in 2019.
While most of the new trade deal with Mexico and Canada is an update to NAFTA, there is a paragraph inserted into the agreement that could disrupt cross-border trade via truck.
Head of FMCSA and largest U.S. truck trade group say California attempting to preempt federal regulations.
Capacity constraints, strong demand, and chaotic tariff-related traffic pushed transpacific containers rates to new heights, but the current inbound container surge, unrelated to consumer demand, will create a steeper drop off in Q1 2019.
Trump government looks to phase out IMO2020 sulfur cap regulations; Shanghai Composite Index crashes by 3%; Amazon revisting cities for finalizing HQ2.
Despite an exceptionally strong year for trailer orders, Wabash National’s stock took a hit when the company guided downward for its Q3 results, blaming higher input costs and labor issues.
Concerns over a global trade war have eased this morning, as Canada agreed late Sunday to join a trade deal between the US and Mexico. The deal makes modest revisions to the previous North American Free Trade Agreement (NAFTA), and clears up some of the uncertainty surrounding the trade environment.
The US trade deficit in goods widened for the third consecutive month in August as another decline exports was paired with a modest increase in imports. The total value of traded volume fell for the month, but remains generally strong relative to last year.
$200B of tariffs imposed on Chinese imports today; the 4PL era is here; China cancels further trade talks; Germany’s maritime fleet shrinks by 1/3; air cargo not yet feeling tariff pain; oil rallies.
Utility solar projects see growth as prices of imported Chinese solar panels fall despite Trump tariffs; no-deal Brexit could see higher mortgage rates even if housing prices tumble; Chinese car market is weakening and it is troubling major-OEMs.
The ports of LA and Long Beach witness a fall in imports due to upcoming tariffs; Hurricane Florence is now a Cat 2 storm; California passes bill that would make its electricity carbon-free by 2045.
Tariffs Hurt the Heartland sends a letter to Congress today, F1 inspires air taxi development, and more in Today’s Pickup.
Survey data from the manufacturing sector improved significantly in August, in a sign that activity continues at a strong pace after robust growth in the 2nd quarter.
Maersk foresees a $2 billion increase in fuel costs due to sulfur-emissions cap; U.S. consumers might witness increase in car prices after U.S.-Mexico deal; Indonesia is seeing a tremendous growth in ecommerce; German car manufacturers are facing a battery production crisis.
Transpacific container rates post gains; United States and Mexico try to reach an agreement on the automotive trade; what Amazon did last week; Lloyd’s of London rethinks marine insurance; Mexico City’s new airport has uncertain future; tanker market faces added pressure from US-China spat.
Uber Freight is gobbling up $500M per year; the US and China hit each other with a new round of tariffs; Georgia Ports extends its inland intermodal network; Saudi Arabia’s Aramco IPO indefinitely delayed; cannabis supply chains mature; Houston is now an oil exporter.
The trade tariffs spat between the U.S. and the rest of the world is having consequences at home, as importers and consumers have to contend with the rise in product prices in the country.
Transpacific container rates continue to gain momentum; UPS files blockchain patent applications; Uber is uncertain about self-driving cars; Elon Musk doubles-down on ‘no sleep’; cautious optimism for US-China trade talks lifts equities markets; container lines expect profits in the back half of 2018.
Springfield, Illinois hits Walmart with a $50k fine for allowing truck parking. Safeway delivery drivers make history with a newly ratified union contract. We interview Senator Bob Corker about Trump’s tariffs. 162 transportation and logistics companies make the 2018 Inc. 5000 list. JP and Chad discuss all this and more on this week’s episode.
Senator Bob Corker (R-TN) spoke to FreightWaves about his efforts to rein in what he called the Trump administration’s abuse of authority in imposing tariffs on the United States’ allies and trade partners.
Canada, Mexico, China, and the European Union are among those who have instituted retaliatory tariffs on cranberry imports coming from the United States. FreightWaves spoke with Kellyanne Dignan, Ocean Spray’s Director of Global Corporate Affairs, who provided the company’s perspective on the issue.
Starting this week U.S. sanctions against Tehran on sectors like automotive and aircraft are set to return following Trump’s decision in May to pull out of the nuclear agreement with Iran.
Survey data in both the manufacturing and service sectors signal that growth continued at a slightly slower pace at the start of the 3rd quarter. Concerns over tariffs, labor shortages, and freight capacity remain issues in the economy overall, and may have contributed to the moderation in growth.
The next big thing is food. Not just food, but hot food, and not just hot food but hot–delivered–food.
NAFTA trade talks are back on the table, with Canada and Mexico hoping to ward off potential auto tariffs that could be levied by the U.S. if the agreement turns out to be unfavorable to its interests.
Small carriers enjoy 30% better retention rates than megas; container lines raise rates worldwide; truckload carriers try to capitalize on a historically favorable freight environment; Tesla begs its suppliers for cash back; LNG production is accelerating.
The rate of rejected loads coming out of LA inched upward, signaling that the July ‘mellowing’ period may be over. Container rates from China to North America’s West Coast stayed elevated for the second week in a row, and containership idle capacity is at 1%.
While there is a lot of noise surrounding tariffs and potential trade wars, it probably isn’t enough to derail the economy and the red-hot freight environment.
President Trump is pushing his trade conflict with China toward a point where neither side can back down.
Tesla wants to build a huge China plant to avoid tariffs; dry bulk carriers find favorable rate environment as countries re-source commodities; Honeywell adds an executive to reconfigure its supply chains; container rates from China to the North America spike as maritime lines take advantage of trade war fears.
Turndowns and trucks in market both deteriorated this week as shippers and carriers enjoyed their Independence Day holiday. US-China tariffs begin today; railroads worried about tariffs’ impact on carloads; air freight’s pilot shortage accelerating drone adoption; unemployment up slightly as US adds 213K jobs.
Survey data in both the manufacturing and service sectors continued to point to strong economic growth at the end of the 2nd quarter. Details in the survey responses continue to suggest that high transportation costs, labor shortages, and tariff uncertainty remain significant issues in the economy.
President Trump’s global trade war is posing a growing risk to the kind of robust job gains that the U.S. probably enjoyed again in June.
Freight markets still hot to close Q2; COSCO/OOCL merger approved by US, China; Tesla hits Model 3 production goal; CSX revives plan for intermodal hub in North Carolina; EU threatens retaliation over auto tariffs.
Media outlets are reporting that President Trump has repeatedly told his staff of his desire to pull the United States out of the World Trade Organization, which has removed trade barriers and facilitated free trade for decades.
Economists say the impact could spread beyond the specific categories of imports and exports that may be subject to tariffs.
As Trump continues to ramp up protectionist tariff talk and suggesting that imported autos and auto parts will be next, the U.S. auto industry is collectively saying, thanks, but no thanks.
The US trade deficit in goods narrowed for the third consecutive month in May as improved export performance outweighed a modest rise in imports during the month.
The FMCSA and ATA talk regulations at SMC3; Cummins has to pay tariffs to import its own engines; Canadian National and Canadian Pacific investing in Port of Vancouver; why protectionist rhetoric is roiling the markets; key takeaways from OPEC’s Vienna meeting.
The song of 2018 remains the same—and tariffs or no tariffs, it projects to remain so even as infrastructure on the rails and ports expand.
Rhode Island begins tolling trucks today; SCOTUS rejects review request by JB Hunt on California case; Rolls-Royce engine problems spread; transportation companies fret over tariffs; Waymo to buy up to 62,000 Chrysler Pacificas.
Ag haulers are not only dealing with ELDs and hour-of-service uncertainty, but tariff talk is clouding the future outlook as well.
Mexico, Canada, and the EU announce retaliatory tariffs; Dow Transports still above 200 day average; the US asks OPEC for a production hike; DHL remains largest air freight forwarder; containership loses 86 boxes in storm off Australia; how China beats US steel tariffs.
U.S. Sen. Bob Corker, R-Tenn., says he and others are “crafting” legislation requiring congressional authority over levying tariffs in response to President Donald Trump’s imposition of stiff steel and aluminum tariffs on Canada, Mexico and the European Union.
The truckload business is booming, but how high will rates go? Hyundai Merchant Marine orders 20 new containerships; China keeps the door open on US trade talks; global equities rise on US jobs report; a pension fund is building a $4.9B railroad in Quebec; manufacturing activity expands.
The US trade deficit in goods narrowed for the second consecutive month, but a decline in both exports and imports means less transportation to and from ports
China and the United States issued a joint-statement regarding trade consultations and a desire to support bilateral trade between the countries.
The ambiguity surrounding trade talks is leading companies most affected by the tariffs to delay hiring or spending plans until they have a clearer sense of what the administration will do.
Data from the Institute of Supply Management shows that manufacturing activity lost some momentum in April, as the current capacity crunch and recent tariffs have impacted production flows
Mnuchin is running a full court press to make Chinese tariffs, aluminum sanctions, and NAFTA renegotiation the least disruptive as possible.
Responses from the Federal Reserve’s Beige Book on regional economic conditions show that recent tariffs and capacity issues in freight are starting to pressure businesses.
The spot market is normalizing; XPO’s Brad Jacobs talks jazz and M&A; China COSCO’s purchase of OOCL might be held up; railroad Teamsters want NAFTA changes; weak spot rates for container ships pulling down contract negotiations; Xi looks for a way out of the trade war.
President Donald Trump’s tariffs appear to be driving up demand for American-produced aluminum and steel, but they are also driving up costs for equipment manufacturers.
Trucking contract rate increases tamp down volatility; Nikola Motor Company returns deposits on truck orders; Hunter Harrison was one of the highest paid CEOs in 2017; Xi Jinping takes the stage to defend Chinese trade practices; container lines enter bid season with a weak hand.
Predictions about a freight market recovery in the dry bulk and container markets can be left high and dry, if the unexpected factor of a trade war comes to fruition.
Trade war fears have caused increased volatility in stock markets over the past month. However, worries over a deep recession caused by protectionism appear overblown for now. The challenge for transportation companies will be less about a collapse in activity and more about adjusting to the new reality.
Soybean exports to China have been levied 25% additional tariffs as China hits back with tariffs on U.S. exports worth $50 billion annually.
Transport stocks excluding bulk maritime carriers largely unaffected by tariffs; Port of LA getting new container terminal; Boeing and Ford threatened by Chinese tariffs; new autonomous shipping joint venture announced; commercial driving schools see low enrollment; a guide to Tesla’s guidance.
Data from the ISM index showed that manufacturing activity pulled back slightly in March, and responses from the survey highlight the impact that trucking shortages and tariffs are having on performance.
Regional manufacturing data from the Dallas and Richmond Fed suggests that manufacturing activity has cooled in March as the impact of tariffs has affected output
The threat of retaliatory tariffs on American agricultural products could hurt wheat exports, which are already struggling to compete on the international market. Railroad grains volumes in 2018 YTD are down, in many cases by double digits.
April 1st promises a surge of HOS violations; Uber pulls out of Southeast Asia; China starts trading oil futures; US Customs looks to upgrade their digital tools; Kansas City Southern hit by new tax bills.
Transportations companies with cross-border business are exposed to tariff risks; new home sales fall unexpectedly; the Dow crosses below its 120-day moving average; acquisition-minded trucking companies face new financial scrutiny; Target and Kroger merger rumors.
With truck order forecasts continuing to rise, Mack Truck officials speaking at the Mid-America Trucking Show in Louisville on Thursday reiterated their confidence in a strong economy through the end of this year.
The tariff is aimed at curbing theft of U.S. technology and likely to trigger retaliation from Beijing and incite fears of a global trade war.
The US appears set to impose significant tariffs on China, raising the threat that the economy may find itself in a full-fledged trade war
Health company higi is opening up resources at its 11,000 self-screening health stations to truck drivers who are members of Rolling Strong for free biometric testing.
Rep. Sam Graves (R-MO) is pushing a vehicle miles tax in Washington as the solution to funding road and infrastructure improvements rather than raising fuel taxes.
Stock is down across the beer industry. The tariff costs to the industry will ultimately cost consumers.
