The recent escalation in the U.S.-China trade war, with tariffs on Chinese goods soaring to 104%, is poised to significantly influence domestic freight dynamics. A recent FreightWaves article highlights four critical SONAR charts that provide insights into these impending changes.
Firstly, maritime bookings have shown robust activity, with a 5.6% year-over-year increase in TEUs headed to U.S. ports. However, this surge is partly attributed to shippers accelerating imports ahead of tariff hikes, potentially leading to a subdued peak season later this year. On the intermodal front, there’s a notable 9.9% year-over-year growth in outbound loaded volumes, as shippers opt for cost-effective rail options over long-haul trucking, especially for less time-sensitive shipments.
Conversely, the truckload sector faces challenges, with national dry van volumes down 9.5% compared to last year. Despite this, linehaul spot rates have seen a 6.2% year-over-year increase, indicating that the reduction in excess capacity is helping stabilize rates even amid softer demand. For a comprehensive analysis, refer to the full article here: FreightWaves
