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flatbed truck crossing u.s. canada border

Trucking braces for Trump tariff impacts

March 4, 2025
The president didn’t back down from his second import tax deadline with Canada, Mexico, and China. Trucking analysts and trade groups warn of rising equipment prices and operations costs as economists fear recession.

President Donald Trump went through on his threat to levy tariffs against neighbors Canada and Mexico on Tuesday, which trucking industry analysts and executives have warned could push up vehicle prices and redraw supply chains.

Beginning just after midnight on March 4, imports from Canada and Mexico will be taxed at 25%; Canadian energy imports get a 10% tax; and Chinese imports that were levied with a 10% tariff in February, now face 20% duties.

See also: 2025 FleetOwner 500: For-hire carriers ranks shift

The tariffs add disruption to freight markets, supply chains, and economic health indicators. As the uncertainty around cross-border trade intensified during the early weeks of Trump’s second act, shippers began to expedite their freight.  As the freight market is set to rebound in 2025, shippers are also reevaluating their costs but feel somewhat prepared for disruptions. 

Business and consumer concerns

The threat of tariffs also harmed U.S. consumer confidence. The Conference Board’s Consumer Confidence Index plummeted to an eight-month low in February—the largest one-month drop since August 2021—attributed in part to tariff threats and inflation worries.

Major stock market indicators also plummeted on Monday and fell during overnight trading. Valuations of the Dow Jones Industrial Average fell 1.48%, the S&P 500 fell 1.76%, and the Nasdaq Composite fell 2.64%, according to CNN.

The business community broadly opposes tariffs. According to a recent IndustryWeek survey over half of respondents view Trump’s performance negatively, with emphasis on his tariff policy.

About the Author

Josh Fisher | Editor-in-Chief

Editor-in-Chief Josh Fisher has been with FleetOwner since 2017. He covers everything from modern fleet management to operational efficiency, artificial intelligence, autonomous trucking, alternative fuels and powertrains, regulations, and emerging transportation technology. Based in Maryland, he writes the Lane Shift Ahead column about the changing North American transportation landscape. 

About the Author

Jeremy Wolfe | Editor

Editor Jeremy Wolfe joined the FleetOwner team in February 2024. He graduated from the University of Wisconsin-Stevens Point with majors in English and Philosophy. He previously served as Editor for Endeavor Business Media's Water Group publications.

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