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The trucking industry is facing a tepid financial outlook amid volatile market conditions compelled by the ongoing tariff-fueled global trade war, experts said.

Tariffs introduced by the Trump administration, and the consequent aversion to risk, are a major reason why there is no clear trajectory for recovery, the study’s authors warned.

FTR expects contract truckload rates to increase 2.2% on a full-year basis in 2025, adding that by the end of 2025, contract rates will be rising 5% year on year.

President Joe Biden urged United Auto Workers and Detroit’s Big Three automakers to come to a “fair agreement,” weighing in on tense contract talks with major implications for the economy.

The trucking industry could soon see a jump in contract rates if the current environment holds steady, experts said.

Several members of Congress have written letters requesting further investigation into the award of a $7.2 billion Department of Defense contract to a company they claim lacks the experience to move an estimated 400,000 members of the military and their families and DOD employees across the globe each year.

Longshoremen on the West Coast are poised to ratify a three-year extension to the collective bargaining agreement with the port authorities and terminal operators in California, Oregon and Washington.

Truck drivers in Montgomery, N.Y., voted to ratify a collective bargaining agreement with private carrier United Natural Foods Inc., the first contract since they joined the International Brotherhood of Teamsters in 2016.

An appeals court has ruled that FedEx Ground Package System drivers working out of a terminal in Hartford, Connecticut, are independent contractors and not employees of the package carrier.