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Trump tariffs could intensify US trucking industry slump, experts say

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The industry that moves everything Americans make and buy will be among the first to signal any unintended consequences of trade policies.
The article from USA Today discusses the potential impact of former President Donald Trump's proposed tariffs on the U.S. trucking industry. Trump has suggested implementing a 10% tariff on all imports and a 60% tariff on Chinese goods if he were to return to office. These tariffs could lead to a significant slump in the trucking sector, which is already facing challenges from economic recovery post-COVID, supply chain disruptions, and shifts in consumer behavior. The trucking industry, vital for moving goods across the country, would likely see reduced freight volumes as higher tariffs could increase costs, reduce consumer spending, and prompt retaliatory measures from trading partners. Industry experts warn that such policies could exacerbate existing issues like driver shortages and rising operational costs, potentially leading to layoffs, reduced investments in new equipment, and a broader economic slowdown.

Read the Full USA Today Article at:
[ https://www.usatoday.com/story/money/2024/12/13/trump-tariffs-trucking-industry-slump/76969654007/ ]