Transportation Economy News Updates

U.S. economic growth will slow to 1.6% this year as President Donald Trump’s erratic trade wars disrupt global commerce, drive up costs and leave businesses and consumers frozen by uncertainty.

The United Nations on May 15 forecast slower global economic growth this year and next, pointing to the impact of the surge in U.S. tariffs and increasing trade tensions.

The U.S. economy shrank 0.3% from January through March, first drop in three years. It was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before President Donald Trump imposed massive tariffs.

After a year of modest growth in 2024, third-party logistics providers are facing uncertainty for the future with volatile economic conditions expected to persist.

Trucking is emerging from a difficult period, and the headwinds that have plagued the industry are beginning to weaken as freight volumes improve and capacity leaves the market.

The Organization for Economic Cooperation and Development predicted the pace of global expansion to slow to 3.1% this year, with annual expansion in the U.S. wilting to 1.6% next year.

The Federal Reserve’s preferred measure of underlying inflation rose at a mild pace in January, while consumers pulled back on spending.

New research suggests President Donald Trump’s latest tariffs on imports from China could hit the American economy more than official U.S. trade data indicate.

WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated.

WASHINGTON — U.S. inflation accelerated last month as prices for gas, eggs and used cars rose, yet underlying price pressures also showed signs of easing.