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Trade war's toll mounts as transportation industry faces major layoffs

Penske, US Xpress, UPS, and more are in already planning workforce reductions. The post Trade war's toll mounts as transportation industry faces major layoffs appeared first on FreightWaves.
The trade war between the U.S. and China has significantly impacted the transportation and logistics industry, with the sector facing increased costs and operational challenges due to tariffs and retaliatory measures. According to a report by the National Association of Manufacturers and the American Action Forum, the trade war has led to a decrease in U.S. exports and imports, affecting the transportation industry's volume of goods to be moved. The report highlights that the transportation sector is experiencing higher costs for equipment and parts, as well as delays and disruptions in supply chains. Additionally, the trade war has led to a shift in trade patterns, with companies seeking alternative sourcing and shipping routes to avoid tariffs, further complicating logistics operations. The ongoing trade tensions have also created uncertainty, making it difficult for transportation companies to plan and invest in the future.

Read the Full FreightWaves Article at:
[ https://www.yahoo.com/news/trade-war-toll-mounts-transportation-203654816.html ]