Even if the border remains open to freight, shutting out the ~500k workers, students, shoppers, and tourists who legally cross each day would still have a major economic impact.
Trucks designed to haul freight on highways are becoming much more sophisticated in China. Thanks to standardization, trucks now have the ability to do drop and hook, according to Perkins. Trucks are also being upgraded to more modern emissions systems.
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.
A summary of the key developments in the U.S. economy over the past month and highlighted trends to watch in March.
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.
DHL showcased its Resilience360 platform at the 2019 LINK Conference in Orlando
Descartes Systems Group (NASDAQ: DSGX) has completed its acquisition of Management Systems Resources according to a Descartes press release.
Apple’s manufacturing partner Foxconn Technology Group, which assembles Apple’s iPhone product in China, announced on Saturday that it has raised over $213 million for what it described as a “mega-development” in India.
U.S. Xpress Enterprises is selling its interest in its Mexican cross-border operation, but the company is not abandoning the Mexican market, says its CEO.
Economic and freight indicators are mixed, with some suggesting a downturn is coming, but others pointing to continued growth.
Among news of poor performance in the Chinese economy, one of the most distressing signals for foreign retailers and manufacturers is Apple’s announcement on Wednesday that the company had reduced revenue expectations due to poor iPhone sales in China.
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.
Fervent hope and speculation in the West about forthcoming policy announcements by China failed to materialise yesterday in a speech given by China’s President Xi Jinping.
The two sides traced out an agreement that would involve a commitment by China to increase purchases of American goods and services by $1.2 trillion over the next several years.
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.
Continuing efforts to fight what he says are unfair trade practices, the administration of President Donald Trump announced the U.S. will pull out of the Universal Postal Union (UPU) treaty, which sets how much can be charged for international shipping.
A roundup of economic data releases and events over the past month, and view of trends worth watching in October. Freight demand conditions remained generally solid during the month, though international trade and housing remain trouble areas. Supply within trucking looks to be expanding, and hires in the industry continued to climb
Speaking at the American Trucking Associations’ (ATA) 2nd Annual Economic Summit on Thursday in Washington, DC, ATA President & CEO Chris Spear touted the accomplishments of the association but told attendees now is not the time to become complacent.
