Sweeping tariffs proposed by President-elect Donald Trump could backfire on the trucking industry by driving more inflation, creating further demand setbacks that the industry has wrestled for years, experts say.
That’s because trade restrictions could complicate the Federal Reserve’s efforts to balance low unemployment and inflation, FTR Senior Analyst of Rail Joseph Towers said last week on an outlook webinar.
A two-year freight recession has pummeled the trucking industry, jolting firms with weaknesses across consumer spending and manufacturing. But the trucking sector is hoping for an upturn to materialize in a meaningful way in 2025.
