Tariffs: Following an Executive Order, certain country-specific reciprocal tariffs have now taken effect. According to FreightWaves, the U.S. and Mexico have agreed to a 90-day extension as trade talks continue. The U.S. and China have also reached a similar agreement, extending their original deal—which was set to expire today, August 12—until 12:01 a.m. EST on November 10, per the Executive Order.
Diesel update: The average price of diesel decreased by 4.6 cents a gallon. Putting the average price of diesel at $3.754, per the U.S. EIA.
All regions throughout the nation saw decreases. The Midwest was down 4.5 cents, the USWC was down 4.8 cents, the USGC was down 4.5 cents, and the USEC was down 5 cents.
Intermodal: BSNF and Union Pacific are introducing new intermodal options. Over at UP, starting September 3rd, they will be launching a faster service linking Southern California’s Inland Empire with its Global 2 terminal in Chicago. Running five days a week, the route is expected to be faster by 20% compared to existing lanes, per UP’s press release.
Over at BNSF, they are adding a new international intermodal lane linking Salt Lake City with ports in California. They also recently launched a new expedited rail service from Los Angeles to Houston.
Truckload: Class 8 truck orders in North America saw a 1.9% year-over-year decrease from July last year to this year, according to preliminary data from ACT Research.
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