Domestic Market Updates –
Cross-Border Trade: For the second straight year, Mexico is the U.S. top trading partner, with a total of $840 billion, per U.S. Census Bureau data. Not far behind was Canada at $761 billion in 2024.
Tariffs: At the beginning of this month, executive orders were signed introducing new tariffs. While some have been paused (can read more here), the 10% additional tariff on Chinese imports took effect on February 4th.
The President has announced his intention for new tariffs on all steel and aluminum tariffs and potentially other reciprocal tariffs to “match the tax rates other nation’s place on imports of American goods”, Freightwaves reports, but none have gone into effect as of yet.
Infrastructure: A stretch of Interstate 40 in North Carolina, affected by Hurricane Helene, is scheduled to reopen on March 1st. As reported by Trucker News, one lane will be open in each direction from Exit 20 to Exit 15 for non-Helene-related construction, as well as from Exit 7 to the state line, extending about five miles into Tennessee. The NCDOT confirms that this will be open to standard-sized trucks, but oversized loads will be prohibited.
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