Gain valuable insights and strategies to navigate the ongoing trade and cost challenges we face together.
Highlights from the Report:
- President Trump said sweeping U.S. tariffs on imports from Canada and Mexico “will go forward” when the monthlong delay on their implementation expires March 4th.
- As of February 1, the U.S. government imposed an additional 10% tariff on goods imported from China, on top of the existing 25% base tariff implemented in July 2018.
- The ISM® Prices Index climbed to 54.9% in January, marking its highest point since May 2024, indicating raw material prices increased for the fourth straight month.
- Global economic expansion broadened, accompanied by employment and an increase in business confidence (the highest in eight months), even as inflationary pressures intensified.
- U.S export of industrial supplies and materials shrank -$1.8 billion, while imports skyrocketed $10.7 billion for the month.
- In 2024 U.S. ports processed 25.5 million containers, marking a 14.8% increase from 2023 and the highest level since the pandemic-era record of 25.8 million in 2021.
- U.S. import volume from China increased by 10.6% from December to January and accounted for 40.1% of total U.S. container imports for the month.
- Truckload spot market activity increased for the second month in a row in January, with load posting volumes showing a 27.4% month-over-month rise.
- Continued ocean rate volatility is expected due to increased capacity coming online, blank sailings, service disruptions, ocean carrier reshuffling and developments in the Red Sea.
Dive into these topics and more by reading the full report linked below.
📄 Report Length: 3,229 words
⏱ Estimated Reading Time: 10 minutes
