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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.

President Donald Trump said he intended to send letters to trading partners in the next one to two weeks setting unilateral tariff rates, ahead of a July 9 deadline to reimpose higher duties.

President Donald Trump is expected to sign a measure June 12 that blocks California’s first-in-the-nation rule banning the sale of new gas-powered cars by 2035, a White House official told AP.

“We cannot accept any form of unfair practices from different countries when it comes to our Canadian market. That’s enough,” Industry Minister Melanie Joly told reporters on June 11.

U.S. customs duties climbed to a record in May, helping shrink the budget deficit for the month, while doubts remain about the persistence of the inflows.

At the heart of the policy shift is China’s stranglehold over rare earths and its decision to restrict supply to American manufacturers reliant on the key inputs.

President Donald Trump can continue to enforce his global tariffs for now, a federal appeals court held in a win for the president on one of his signature economic policies.

President Donald Trump announced June 11 that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will go to 55%.

Under its current terms, the deal would allow U.S. buyers to import Mexican steel duty-free as long as they kept total shipments below a level based on historical trade volumes.

The U.S. sees domestic crude production declining next year for the first time since 2021 in a blow to President Donald Trump’s push for American energy dominance.