Domestic Market Updates –
Diesel update: The average price of diesel increased by 2.5 cents a gallon. Putting the average price of diesel at $3.592, the U.S. EIA.
The Midwest region (up 2.8 cents), USWC (up 3 cents), USGC (up 1.7 cents), and the USEC (up 2 cents a gallon) all saw increases from last week.
Tariffs:
Automobiles and Auto Parts — On March 26th, President Trump issued an Executive Order imposing a 25% tariff on certain automobiles and auto parts. This tariff is in addition to any existing duties, fees, or charges.
These new tariffs are set to take effect on April 3rd at 12:01am EDT for autos entering the U.S. or withdrawn from warehouses for consumption. The effective date for auto parts has yet to be determined but will be no later than May 3rd, per the Executive Order.
According to an NBC News report, automobiles imported under the USMCA and deemed compliant will remain tariff-free until the government establishes a formal process for applying the 25% tariff.
Port infrastructure: South Carolina Ports Inland Port Greer has finished their expansion. In an SC Ports Press Release, upgrades include an expanded container yard (increasing cargo capacity by double), 9,000 feet of added rail, expanded chassis lot, and new terminal operations and maintenance buildings.
Recent Comments