Tariffs: Canada will scale back portions of its retaliatory tariffs on U.S. goods, Prime Minister Mark Carney said during a press conference last Friday. Under the adjustment, Canada will lift tariffs on imports that meet the United States-Mexico-Canada Trade Agreement rules, while mirroring U.S. tariffs on products that do not qualify. According to Carney, and reported by Supply Chain Dive, this change means about 85% of bilateral trade will move without added tariffs.
Still, Canada plans to keep its countermeasures in place against U.S. penalties on steel, aluminum, and automobiles. Carney stressed that these industry-specific duties will remain a key focus in ongoing trade negotiations with the U.S.
Diesel update: The average price of diesel decreased by 0.5 cents a gallon. Putting the average price of diesel at $3.708, per the U.S. EIA.
A mixed bag throughout the nation… in the Midwest, diesel was down 0.4 cents. The USWC was up 0.6 cents. The USGC was down 1.2 cents. With the USEC down 0.7 cents.
Intermodal: CSX and BNSF railways announced last week that they would be offering a number of new intermodal services connecting the western and eastern U.S. According to BNSF’s news release, the new offerings include direct routes linking Southern California with Charlotte, North Carolina with Jacksonville, Florida. Another new service will connect Phoenix, Arizona, with Atlanta, Georgia. In addition, a new direct international intermodal service is being introduced between the Port of New York and New Jersey with Norfolk, Virginia and Kansas City.
Cross-Border: Northbound truck crossings in July inched up 0.3% year-over-year, following a 2.2% decline on an annual basis in the second quarter, according to JOC reporting and U.S. Bureau of Transportation Statistics data.
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