The Trump administration has placed an immediate pause on new commercial truck driver work visas. This decision, stemming from safety concerns and a desire to protect American truckers' livelihoods, impacts both H-2B temporary and EB-3 permanent visas, foreshadowing a potential capacity crunch.
Next, we dive into the contentious debate over truck vehicle weight limits, where retailers are pushing for increases to boost freight efficiency and lower costs. However, this faces strong opposition from safety advocates and a divided trucking industry, with the truckload segment firmly against bigger, heavier trucks.
DHL Express extends its contract with Global Crossing Airlines for four months, covering the crucial peak season. GlobalX, utilizing Airbus A321 freighters for daily routes between DHL hubs, saw significant growth including a 7% revenue increase and doubled net income in Q2.
J.B. Hunt Transport Services has appointed Brad Delco as its new CFO, effective September 1st. This strategic financial leadership appointment underscores J.B. Hunt's commitment to disciplined growth, operational excellence, and cost discipline in a challenging market.
The macro freight market outlook remains murky, with the August State of Freight webinar revealing historically weak demand; national truckload volumes are significantly down year-over-year and below 2019 levels. Despite shrinking carrier capacity and rising tender rejection rates, the market is stuck in a "range-bound" cycle of stagnant volumes and rates, driven by consumer spending shifts, weak housing/auto sectors, and pervasive business uncertainty.
A new US-EU framework agreement on reciprocal, fair, and balanced trade designed to boost transatlantic economic ties. This comprehensive deal includes the EU eliminating tariffs on US industrial goods, market access for US agricultural products, and substantial commitments in energy and tech, beyond just tariff reductions.
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