This week, the European Union pushed back against Trump’s tariff threats, warning of swift retaliation if a 25% levy on EU imports is enacted. The Port of Baltimore reported its second-best year for cargo, despite disruptions from the Key Bridge collapse. U.S. trailer orders jumped 51% year-over-year, though analysts remain cautious about long-term demand. Cargo theft slowed in January but is expected to rise in February, with hotspots concentrated in Southern California, Memphis, and Chicago. Meanwhile, Trump’s shifting tariff plans on Canada and Mexico created uncertainty, while the prospect of copper tariffs sparked a global rush to ship the metal to the U.S. before potential levies take effect. Read the full articles below.
Weekly Freight Report: February 28, 2025
February 28th, 2025
EU Pushes Back Against Trump Tariff Threats and His Caustic Comments That Bloc Is Out to Get U.S.
The European Union strongly rebuked former U.S. President Donald Trump’s claims that the bloc was created to undermine the U.S. and warned of immediate countermeasures if his proposed 25% tariffs on EU products are enacted, emphasizing the importance of maintaining fair trade and transatlantic cooperation.
Dockworker Union Ratifies Six-Year Contract at Eastern U.S. Ports
The International Longshoremen’s Association ratified a six-year labor contract with U.S. port and ocean carrier employers, securing a 62% wage increase, job protections against automation, and enhanced benefits, while employers gained a framework for implementing non-job-reducing technology.
Cargo Theft Slowed in January but Expected to Pick Up
Cargo theft in the U.S. dipped in January due to post-holiday economic slowdowns but is expected to increase in February, with Southern California remaining the top hotspot.
Trump, Commerce Head Differ on Start Dates for Tariffs on Canada and Mexico
The White House reaffirmed plans to implement 25% tariffs on imports from Canada and Mexico next week, despite Trump suggesting a delay, while both countries negotiated temporary reprieves by bolstering border security efforts.
After Bridge Collapse, Port of Baltimore Sees Second-Best Year for Cargo
The Port of Baltimore handled 45.9 million tons of cargo in 2024—its second-best year—despite the Francis Scott Key Bridge collapse, with recovery efforts boosted by infrastructure investments, new rail services, and a long-term contract with Carnival Cruise Line.
January Trailer Orders Jump 51% From Last Year
U.S. trailer orders surged 51% in January compared to the previous year, despite a seasonal decline from December, with industry experts predicting cautious growth in 2025 amid weak trucking demand, high interest rates, and potential tariff disruptions.
Trump’s Tariff Threat Sparks Global Race to Get Copper to the U.S.
The threat of Trump’s proposed copper tariffs has triggered a global rush to ship the metal to the U.S., creating lucrative arbitrage opportunities for traders while pushing up costs for American buyers and disrupting global supply chains.
