Domestic Market Updates –
Tariffs: As we noted last week, President Trump signed Executive Orders on February 1st, introducing new tariffs on imports from Canada, Mexico, and China. However, on February 3rd, the tariffs on Canada and Mexico were postponed for 30 days. Meanwhile, the 10% additional tariffs on Chinese imports took effect on February 4th. [In Case You Missed It: Tariff Updates].
Yesterday (February 10th), President Trump announced new 25% tariffs on all steel and aluminum imports but according to various news reports, those would not go into effect until March.
Infrastructure: CPKC railway has opened a new cross-border bridge linking Laredo, Texas, to Nuevo Laredo, Mexico. As reported by Freightwaves, this bridge is projected to increase the volume of goods transported by CPKC between the U.S., Mexico, and Canada, potentially doubling current traffic.
Diesel Update: Another week of a small increase (up 0.5 cents a gallon) in the average price of diesel, putting the average price of diesel at $3.665 – per the U.S. EIA.
FMCSA Waiver: This past weekend the FMCSA issued a waiver that eases hours-of-service regulations for motor carriers and drivers that transport live chickens away from areas impacted by the avian flu.
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