Trade war’s toll mounts as transportation industry faces major layoffs
Penske, US Xpress, UPS, and more are in already planning workforce reductions. The post Trade war’s toll mounts as transportation industry faces major layoffs appeared first on FreightWaves.
The ongoing trade war between the United States and China is beginning to show significant impacts on the American economy, particularly in the transportation and logistics sectors. Industry experts are warning of substantial job losses and economic disruption as the effects of reduced trade volumes begin to materialize.
“We’re just at the start of the trade war,” said Craig Fuller, CEO of Firecrown Media and SONAR, in a new video on X. “We’ve been at this for a couple of weeks, but things are definitely starting to take an impact in the economy.”
Layoffs in logistics are beginning as the trade war starts to impact domestic freight markets.
The US domestic freight market could lose more than 5% of its volume in the coming weeks, and logistics operators are expected to respond with force reduction announcements.
There… pic.twitter.com/OQHwi9Na7v— Craig Fuller 
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