Commerce Express Weekly Road Map:
February 4th, 2025
Keeping you informed on the latest news/insights in our industry.
Tariff Shifts: What’s Happening with Mexico, Canada, and China?
On Saturday, February 1st, President Trump signed Executive Orders imposing new tariffs on imports from the United States’ top three trading partners: Canada, Mexico, and China. However, the situation has evolved, and not all of those tariffs will go into effect as initially planned. Here’s an update on the tariffs each country is facing and the latest developments:
Mexico: On February 1st, it was announced that a 25% tariff would be applied to Mexican imports, with implementation set for Tuesday, February 4th. However, on February 3rd, that tariff was paused for 30 days following an agreement between President Trump and Mexican President Claudia Sheinbaum to deploy additional troops to the U.S.-Mexico border, according to CNBC.
Canada: Similarly to Mexico, Canada was also expected to face a 25% tariff on imports starting February 4th, with the exception of energy resources, which would be subject to a 10% tariff. But as of February 3rd, this tariff was also paused for 30 days after discussions between President Trump and Canadian Prime Minister Justin Trudeau.
China: As of today (February 4th), an additional 10% tariff on Chinese imports will take place. In response, China has announced retaliatory tariffs on certain U.S. imports, but reports say those would take effect on February 10th.
This remains a fluid and ever-changing situation. Have questions or concerns? Our team is here for you. Click the button to contact us today.
Commerce Blog
The trucking industry is set to undergo major legislative changes in 2025 with the goals of integrating cutting-edge technologies, improving road safety, and advancing sustainability. Both carriers and drivers will be impacted by these changes, which will create difficulties that call for strategic adjustment. Here is a summary of the main rules that will influence the trucking industry and practical advice on how to maintain compliance.
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Diesel Update: The average price of diesel increased just slightly at 0.1 cents a gallon, putting the average price of diesel at $3.660 – per the U.S. EIA.
Cross-Border Labor: Canadian National Railway and the International Brotherhood of Electric Workers (IBEW) announced that they have reached a tentative agreement, putting strike fears away. No specifics of the contract will be released until the contract is ratified.
Intermodal: A new mandatory appointment system for truckers picking up import containers at Norfolk Southern’s Landers terminal in Chicago has been launched, according to the Journal of Commerce. This is the third NS location to implement the program, with Memphis and Atlanta being the other two. The aim of these appointment systems is to reduce congestion and enhance efficiency.
Regulations: Sean Duffy was confirmed as the new Secretary of Transportation. Duffy will be in charge of the Department of Transportation and it’s thirteen agencies, including the Federal Motor Carrier Safety Administration.
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