Commerce Express Weekly Road Map:
June 24th, 2025
Keeping you informed on the latest news/insights in our industry.
Tariffs:
- As of June 16th, the United States and the United Kingdom finalized a trade agreement that includes key tariff exemptions. According to a White House official and reporting by Transport Topics, the U.S. will now allow a limited volume of U.K. steel imports to enter the country without being subject to the longstanding 25% tariff. More details of the agreement found here in a White House Executive Order.
- Additionally, on June 4th, steel and aluminum tariffs were bumped from 25% to 50% effectively, by an Executive Order. The United Kingdom has been exempted from the additional 25% increase, for now.
Diesel Update: To no surprise, the average price of diesel increased by 20.4 cents a gallon. Putting the average price of diesel at $3.775, per the U.S. EIA.
The Midwest region was up 24 cents, USWC was up 14.8 cents, the USGC was up 22.4 cents, and the USEC was up 16.9 cents.
Last week fuel prices (diesel and gas) were up, largely due to the ongoing conflict in the Middle East. There have been concerns that the Strait of Hormuz—a key route for Middle Eastern oil exports — could be shut down. According to FreightWaves on Monday, June 23rd, Iran’s Parliament voted last week to close the strait. However, the final decision lies with the country’s top leadership, and no official action has been taken so far.
Cross-Border: Port of Manzanillo in Mexico has continued to experience persistent bottlenecks due to the four-day strike that occurred about a month ago, the JOC reports.
Equipment: During the month of May, preliminary net trailer orders contracted by 26% (2,300 units) from April to May, according to ACT Research data. But on a year-over-year basis, trailer orders were still up (by 12%). Official results will be posted later in June.
Commerce Blog
The U.S. Department of Transportation (DOT) has proposed to repeal or amend more than two dozen trucking laws in a major step to streamline government oversight. This move clearly signals a turn toward deregulation and a less bureaucratic load on the business.
Even though many of the suggested modifications are small or technical, taken as a whole, they may drastically alter carriers’, drivers’, and logistics partners’ everyday operations.
Results from CVSA’s Unannounced Brake Safety Day
Following an unannounced one-day brake safety enforcement effort, the numbers are in. A total of 4,569 commercial vehicle inspections were conducted, and 4,171 passed without any brake-related out-of-service violations. However, 398 vehicles were sidelined due to brake system issues, as part of the Commercial Vehicle Safety Alliance’s targeted enforcement campaign.
This year’s focus included closer inspection of brake drums and rotors. Among the most common violations were issues with brake hoses or tubing, steering axle components, air loss rates, worn or damaged drums and rotors, and general brake defects.
This wasn’t the only brake-focused enforcement effort in 2025. The more extensive Brake Safety Week is still to come, scheduled for August 24-30th.
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