Trump's tariffs last year represented the largest U.S. tax increase as a percent of GDP since 1993, while the current average effective tariff rate of 10% is the highest since 1946.
Policy uncertainty fueled by U.S. "Liberation Day" tariffs weakened retail momentum through Q2 and Q3, before conditions leveled out as tariffs eased late in the year.
The combined cost of the five most popular Valentine's Day gifts has risen from $512 in 2016 to $744 in 2026, including a 236% increase in the average cost of a box of chocolates.
While reopening the vital trade route is generally viewed as a positive for the freight industry, it could also have some other unintended impacts on freight rates.
With all the fancy predictive analytics that firms have adopted in recent years, why are they still slow to respond once they know a disruption is coming down the line?
The increase in shipper spending marked the first year-over-year bump in three years, underscoring how tightening capacity has been driving rates higher across the trucking market.
U.S. herds are also down roughly 0.6% from July 2025, as cattle ranchers have struggled with drought conditions, higher prices for grain and feed, and climbing interest rates.