While various businesses are preemptively responding to President-elect Donald Trump’s tariff threats, economists are curious to see exactly what tariffs the next administration will implement — and how they could affect the trucking industry.
Trump’s various proposals, discussed before and after he secured his second term, include 25% tariffs across North America and much more aggressive trade barriers against China.
“He’s talked about a 60% tariff from all goods from China and 10% to 20% tariffs on goods from all other countries,” American Trucking Associations Chief Economist Bob Costello said Monday on a segment of Transport Topics’ “TT Newsmakers.” “Sometimes this is used as a negotiating chip.”
