Domestic Market Updates –
Diesel update: The average price of diesel decreased 5.3 cents a gallon. Putting the average price of diesel at $3.582, per the U.S. EIA.
Tariffs:
Canada and Mexico: President Trump has delayed the 25% tariffs on imports (including automotive products) from Mexico and Canada until April 2nd, per Executive Orders.
During this one-month delay, importers will not be required to pay tariffs on imports from either Mexico and/or Canada, that adhere to the U.S. – Mexico – Canada Agreement. Per NBC News, that’s about 50% from Mexico and 38% of goods from Canada.
Steel and Aluminum: The President has announced his intention for new tariffs on steel and aluminum, set to go into effect Wednesday, March 12th at 12:01am (EST).
Regulatory: A new FMCSA (Federal Motor Carrier Safety Administration) administrator has been announced, Adrienne Camire, a former chief counsel at FMCSA during Trump’s first administration.
Class 8 trucks: Preliminary data from ACT Research shows North America Class 8 net orders (new orders minus cancellations) in February were down 34% year-over-year, 18,300 units.
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