Economics

May’s inflation data was set to be the first real test of how consumer prices would be impacted by historically high tariffs.

May Ling compares logistics to other components of the Producer Price Index.

Adding to a flurry of recent criticisms aimed at the 2026 federal budget bill and other fiscal concerns, Elon Musk stated on social media platform X that President Trump’s tariffs “will cause a recession in the second half of this year.”

With so many fingers pointed at so many targets, the Q1 GDP data must have been an absolute disaster, right? Well, no.

Here’s a sector-by-sector breakdown of how major players are reacting to the mounting pressure of tariffs and retaliatory trade measures.

Apollo Global Management has a grim warning for the trucking industry: a recession is coming and mass layoffs will come with it.

The difficulty in comparing “hard” versus “soft” data is that sentiment influences decisions that will eventually bear out in the hard data.

The National Association of Wholesaler-Distributors has expressed concerns over President Donald Trump’s impending tariffs – set to go into effect on Wednesday.

While manufacturers initially sought tariff relief by relocating production to Southeast Asia, trade compliance experts say these “tariff-friendly” locations are increasingly vulnerable to reciprocal tariffs.

In the run-up to Tuesday’s promised barrage of tariffs against Mexico, Canada and China, the U.S. industrial sector is not looking so hot — a dark omen for domestic freight demand.

The U.S. Department of Transportation has terminated New York City’s congestion pricing plan, drawing praise from trucking groups.

If consumers were able to keep pace with the incredible inflation of the early pandemic, they should be able to weather any storm kicked up by tariffs.

As the global supply chain prepares to grapple with new and impending U.S. tariffs, one analyst is reviewing the implications for how increased costs will affect aircraft manufacturing—and what particular parts might be most impacted.

New tariffs pose a significant challenge for U.S. refiners, who are already grappling with declining profit margins.

Even cars assembled in the U.S. are not exempt from tariff shocks, as components from Mexico and Canada account for roughly 10% of the value of U.S.-built cars, with an additional 5% to 6% coming from Chinese inputs.

Mexico and Canada have announced agreements with President Donald Trump to delay tariffs on imports of goods from those countries for one month.

Businesses are heading into 2025 with lean inventories and high demand from consumers.

Consumers’ growing pessimism could trigger a pullback in discretionary purchases, directly weighing on trucking demand.

Despite encouraging signs, the U.S. manufacturing sector remains in the early stages of recovery.

President Trump said he was considering Feb. 1 as a start date for tariffs against Canada and Mexico, directing federal agencies to assess compliance with recent trade agreements.

Despite aggressive interest rate hikes by the Fed aimed at curbing inflation, the CPI’s decline in yearly growth has been gradual and uneven.

Bond yields are falling and GDP growth is weakening in China as exporters cut prices.

Trucking companies like less regulation, and that’s what they’ll get under a Trump administration. But executives should be careful what they wish for, experts at FreightWaves’ F3: Future of Freight Festival said.

Researchers at Trace One recently published an analysis monitoring changes in food imports over time, the amount of food imported compared to total consumption, top trading partners and top food items imported for each state.

Here are a few tips to keep in mind for fleets considering to haul a load for FEMA or any other disaster relief project 

Port congestion in Southeast Asia is creating an imbalance of equipment, raising both local and global spot market pricing, according to a report by AlixPartners.

The air cargo market is enjoying an unexpected boom during the slow season, but it’s unclear whether demand is pulling from the third and fourth quarters to avoid supply chain delays or will continue to build.

Tech nonprofit Emerge Career reduces recidivism and poverty rates among convicts by providing access to vocational training and job placement support throughout incarceration and after release.

Shippers’ mood has been buoyed by positive economic prospects for the U.S., while brokers and carriers are encouraged by a possible market shift.

Trucking and logistics companies are seeing a massive downturn. FreightWaves has reported on the biggest shutdowns and layoffs since 2022.

Consumer spending is likely to decline in the coming months, adding to weak freight conditions.

Shippers have rebounded in Q4 2023 to once again be the most positive segment. Carriers and brokers have lost some of the steam that led to relative optimism in Q3.

After the Great Shopping Spree of 2021, tens of thousands of truck companies will have to shut down to restabilize the industry.

Inflation, higher cargo volumes and diesel prices fueled a spike in congestion costs for trucking companies, according to new data from ATRI.

The shaky U.S. economy occupied the No. 1 spot for motor carriers in the latest American Transportation Research Institute survey of top trucking issues revealed by ATRI President Rebecca Brewster.

Practically every retail chain in the U.S. has been sounding the alarms on external theft. It’s not as simple as it seems.

Trucking companies are fleeing the market and volumes are starting to rebound. This is good for the freight industry.

Small trucking companies are taking over the industry. Decades of global and domestic policies have made this happen.

The latest data from WarehouseQuote indicates retailers have ho-hum expectations for the holiday season.

A number of consumer-facing companies have pointed to intensifying spending weakness during Q2 earnings season.

For the first time since freight sentiment index inception, shippers are the least positive group. Does that mean the market is balancing?

The two largest home improvement retailers cut their full-year sales guidance in Q1, a rarity; many other retailers also pointed to intensifying pressure on Americans’ ability to spend money as the year has progressed.

The Q2 Freight Sentiment Indexes show carriers lower, brokers higher and shippers about the same despite ample pricing power.

U.S. box shipments are declining at their fastest rate since the worst of the Great Financial Crisis, with trends having deteriorated as the first quarter progressed, according to the third-largest North American containerboard producer.

A large European pulp and paper company issued a profit warning as “the whole packaging market is currently weakening.”

The first freight sentiment indexes in 2023 show eroded near-term freight market expectations but signs of a more balanced landscape on the way.

A recent FreightWaves Research survey found strong consensus among carriers and brokers/3PLs that spot rates are still a few months from hitting bottom, but that they’ll start to climb again in the second half of 2023.

Most politicians are clueless about supply chains, so it’s a shame when industry veteran Mike Erickson runs for Congress and pins inflation on ocean carriers.

If you’re an owner-operator, chances are that money-wise 2021 felt pretty good to you. Has 2022 been quite as generous?

FreightWaves founder and CEO Craig Fuller assesses the potential for a “great purge” in trucking fleets.

FreightWaves founder and CEO Craig Fuller analyzes the bullwhip effect on the current retail and trucking environments.

The air cargo market has lost some steam from 2021 but is still going strong, according to the airline trade group IATA.

The International Air Transport Association’s chief economist points to mixed signals for the economy and air cargo activity.

FreightWaves founder and CEO Craig Fuller analyzes truckload contract rates and where they may be headed.

FreightWaves founder and CEO Craig Fuller analyzes changes taking place in global supply chains.

FreightWaves founder and CEO Craig Fuller lays out the premise of Freedom Trade.

Craig Fuller explains the impact of higher diesel prices on the U.S. economy and consumers.

Join FreightWaves for the Net-Zero Carbon Summit on April 22.

FreightWaves Founder and CEO Craig Fuller analyzes the impact of the latest Chinese lockdowns on the supply chains between China and the U.S.

FreightWaves Founder and CEO Craig Fuller explains the boom and bust cycle of the trucking industry.

With record inventories building and bottlenecks easing is deflation next?

FreightWaves Founder and CEO Craig Fuller analyzes methods to generate more revenue in a trucking downturn.

FreightWaves Founder and CEO Craig Fuller provides further analysis regarding the decline in the freight market.

Craig Fuller analyzes the state of the U.S. truckload market.

FreightWaves Founder and CEO Craig Fuller writes about the impact of the Russia-Ukraine conflict on the U.S. freight system

Donald Trump claimed his trade war got the Chinese to bend to U.S. will. But the “historic” trade deal he negotiated didn’t turn out so well.

The U.S. Chamber of Commerce wants the Biden administration to spend less time correcting economic problems the chamber feels don’t exist, and more on trade.

The Biden administration wants consumer protection regulators to examine whether giant retailers are creating supply chain distortions for smaller businesses.

FreightWaves founder and CEO Craig Fuller analyzes inflation in the supply chain.

Sustainable fuels and technologies are up against decades of perfecting the efficiency and economies of scale of the fossil fuel industry.

Trucking companies outbidding each other for drivers using salary and per-mile wage increases are leaving themselves vulnerable when the next economic downturn hits, the American Trucking Association’s chief economist warns. Bob Costello told the Motor Carrier Safety Advisory Committee (MCSAC), part of the Federal Motor Carrier Safety Administration, that while the ongoing pay increases in […]

Truckload shippers are accepting double-digit rate hikes in 2021 and further increases in 2022, Deutsche Bank’s lead transport analyst says.

FreightWaves introduces FreightWaves Carbon Intelligence. Learn more here!

It is difficult to measure the precise size of the impact on retail fuel prices, but there are signs it is in the double digits.

Zach Strickland, the Sultan of SONAR, talks about what the pandemic did to supply chains.

HSBC global economist James Pomeroy says we won’t be buying all the one-off big-ticket items we did during the pandemic’s first year.

Old-school aerodynamics technologies such as TruckWings can contribute to economic and environmental sustainability.

Cortera report shows surge in business spending as the year drew to a close.

The December rates subindex jumped 13% year-over-year, setting the stage for big rate hikes in 2021, according to Cass data.

Canada and the U.K. reach an interim trade agreement ahead of the exclusion of the U.K. from CETA at the beginning of 2021.

U.S. House lawmakers’ Climate Crisis Action Plan calls for 100% EV truck sales by 2040.

FreightWaves CEO announces SONAR SCI at FW LIVE @Home. SCI stands for “supply chain intelligence.” Read how SONAR SCI can help your business.

Rail jobs resume downward slide after increase a month earlier

Airlines have cut costs to the bone to survive the COVID pandemic. Shrinking the bone — maintenance, airport fees, labor and aircraft rent — is more difficult.

The air cargo industry is operating with an anchor tied around its waist: The absence of strong passenger service.

Trucking jobs are up, but warehouse jobs are up even more

July supply chain survey confirms torrid pace of logistics recovery as transportation capacity remains in short supply and rates bound higher.

Jim Blaze explores the state of the major railroads that operate in Mexico – particularly Kansas City Southern, which is rumored to be a takeover target.

The cost to build a railroad is staggering. Jim Blaze gives an overview of the costs involved in such an endeavor.

The transportation and warehousing sector improves as Canada’s economy adds a surprising 290,000 jobs in May in the latest Statistics Canada employment report.

The retail apparel sector has been among the hardest hit by the COVID-19 pandemic. Learn how international trade, supply chains and tariffs complicate things further.

Jim Blaze writes about the advantages to the railroads of rebuilding locomotives instead of buying new ones.

As various parts of the nation and the world begin to open up, there will be logistical and supply chain issues. Darren Prokop explores those issues.

CNBC’s Lori Ann LaRocco writes about the impact of COVID-19 on U.S.-China trade, particularly in regard to the trade war between the two nations.

Are the railroads following Hunter Harrison’s PSR directives? Railroad expert Jim Blaze explores the topic.

Most crops don’t grow without seeds. But how are seeds for commercial farming transported? Darren Prokop explores this topic.

The transportation and warehousing sector sheds 10.4% of employees in April as Canadian Trucking Alliance calls for additional federal aid.

Nearly 80% of owner-operators and small fleets do not have plan in place, ATRI finds.

Trump says meeting with administration officials “will work out well.”

Like all industries, the coronavirus has impacted railroads. What should they be doing to gain market share and better serve their customers?