Diesel update: The average price of diesel increased by 1.9 cents a gallon. Putting the average price of diesel at $3.758, per the U.S. EIA.
The Midwest saw no gain this week from last. USWC was up 3.6 cents, the USGC was up 2 cents, and the USEC was up 2.8 cents.
Tariffs: U.S. officials have indicated that the original July 9th tariff deadline will be shifted to August 1st, as the U.S. and other countries continue with trade negotiations, per Transport Topics. The Administration has begun to send out letters to trade partners, warning that higher tariffs could be imposed starting August 1st, per the Guardian.
In other tariff news, on Monday, July 14th, the U.S. Department of Commerce announced that they are withdrawing and terminating the 2019 Agreement Suspending the Antidumping Duty Investigation on Fresh Tomatoes from Mexico. In addition, the Trump Administration is imposing a tariff (17.09%) on most tomato imports Mexico, per the International Trade Administration.
Intermodal: Intermodal activity in North America had a strong start to the year, with Q2 volumes rising 1.4% compared to the same period in 2024, according to the JOC.
Cross-Border: Mexico was the top trade partner with the U.S. for the month of May, per data from the U.S. Census Bureau. This was a 7% month-over-month increase and a 2% year-over-year increase. Followed closely behind were Canada and China.
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