Diesel update: The average price of diesel decreased by 0.7 cents a gallon. Putting the average price of diesel at $3.805, per the U.S. EIA.
The Midwest region was down 0.1 cents, the USWC was up 0.4 cents, the USGC was down 2.2 cents, and the USEC was up/down 0.9 cents.
Tariffs: A new round of country-specific tariffs is scheduled to go into effect on August 1st—unless a trade deal is struck with the U.S. beforehand. While it’s unclear whether the deadline will be extended again, as it was in July, August 1st remains the target date for implementation.
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.
If you have any questions surrounding tariffs, don’t hesitate to reach out to us.
Intermodal: Union Pacific and Norfolk Southern announced their agreement to merge together and form the first transcontinental railroad in America. According to a press release from Union Pacific, both companies are expected to file their application with the Surface Transportation Board in the next six months – something that is required as the Board will review the transaction. The press release also states this will connect over 50,000 route miles throughout 43 states from the East to the West Coast, linking around 100 ports. Both parties are hopeful that the closing of the transaction will take place in early 2027.
Equipment: Preliminary data for U.S. trailer orders in June hit an unexpected increase of 144% (15,400 units) when compared to June of last year, per ACT Research and reported by Transport Topics. On a month-to-month basis June orders were up 133%.
Truckload: Miami International Airport will be adding a lot more capacity for cargo as they begin construction on a new cold storage facility, per the airport. In a joint venture with PortMiami, the 340,000 square foot cold storage facility will allow more fresh produce and other perishables to go through Miami.
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