International

U.S. and China reach comprehensive economic and trade agreement lowering tariffs

After weeks of uncertainty, the United States and China have formalized a new Economic and Trade Agreement aimed at addressing longstanding concerns and establishing clearer guidelines for commerce.

Strengthening Bilateral Economic Ties

The agreement underscores the critical importance of the economic relationship between the world’s two largest economies. Both nations have explicitly acknowledged that expanded trade, sticking to international market norms, and market-based outcomes serve their...

https://www.freightwaves.com/news/u-s-and-china-reach-comprehensive-economic-and-trade-agreement-lowering-tariffs

Transportation rates likely to surge during tariff pause

U.S. and Chinese officials have reached an agreement to roll back most recent tariffs and implement a 90-day truce in their trade war to facilitate further negotiations. Announced in Geneva, this deal marks a significant step back from a conflict that has disrupted the global economy. The temporary suspension of hostilities is expected to have immediate effects on global shipping and transportation markets.

Current Freight Rate Forecast

Freight rates are projected to rise sharply in the coming...

https://www.freightwaves.com/news/transportation-rates-likely-to-surge-during-tariff-pause

DHL cuts ties with cargo airlines as efficiency initiative ramps up

DHL’s recent cancellation of transport partnerships with third-party airlines supporting its courier and freight forwarding networks is part of a new cost improvement campaign that helped the Express division achieve first-quarter operating profit despite lower shipment volume and rising trade volatility.

DHL Express’ operating profit increased 4.8% year over year to $754 million as efficiency measures ramped up, while better pricing and product mix boosted revenue 2%, according to DHL Group...

https://www.freightwaves.com/news/dhl-cuts-ties-with-cargo-airlines-as-efficiency-initiative-ramps-up

Trump mandates English for truckers, import delays expected this week

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In a significant development for the trucking industry, President Trump is set to sign an executive order requiring all truck drivers in the United States to demonstrate proficiency in English.This move is hailed as a step toward improving safety in the transportation sector but is expected to have far-reaching implications for trucking capacity nationwide. A truck weighing 80,000 pounds traveling on the highway with a driver unable to read signs or understand regulations poses significant...

https://www.freightwaves.com/news/trump-mandates-english-for-truckers-import-delays-expected-this-week

Logistics company Jet Freight to start virtual cargo airline in India 

Confity Capital Partners, a Dubai-based private equity wealth management firm, plans to invest in at least 10 Airbus A330 converted freighter aircraft for use in the fast-growing India subcontinent airfreight market. Jet Freight Logistics, based in Mumbai, India, is the launch customer and will be the first Indian cargo airline to operate the A330 converted freighter platform.

The Mumbai-based freight management company will lease an undisclosed number of aircraft from Confity and outsource...

https://www.freightwaves.com/news/logistics-company-jet-freight-to-start-virtual-cargo-airline-in-india

Ceva Logistics to acquire logistics provider in Turkey

Ceva Logistics, the world’s fifth-largest logistics service provider by gross revenue and part of France-based CMA CGM Group, announced Saturday it has agreed to acquire Turkey-based Borusan Tedarik for $400 million in cash and debt.

Borusan Tedarik offers contract logistics, finished vehicle logistics, truckload and less-than-truckload service, as well as air and ocean freight management, and customs brokerage. In addition to Turkey, it also has operations in Germany, Bulgaria, Hong Kong and...

https://www.freightwaves.com/news/ceva-logistics-to-acquire-logistics-provider-in-turkey

DHL upgrades next-day Medical Express service for Latin America

International shipper DHL Express has grown its next-day delivery capabilities by adding a Brazil-to-U.S. lane to its Medical Express service.

According to a news release emailed to FreightWaves by DHL, this new connection links South America and Puerto Rico to the U.S., with the goal of expediting deliveries to customers in pharmaceutical and clinical research sectors.

“With its Medical Express service, DHL Express expertly manages the export and regulatory requirements for urgent shipments that...

https://www.freightwaves.com/news/dhl-upgrades-next-day-medical-express-service-for-latin-america

Canadian trucking group: ‘Nuclear winter’ may hit Canada-US freight

Seven out of 10 Canadian trucking companies have seen loads to the U.S. paused or canceled outright in the wake of recently imposed tariffs, according to a survey by the Canadian Trucking Alliance.

In addition, executives at 60% of the CTA’s carrier members said a long trade war would pose a serious risk to operations, and 8% reported laying off workers.

Key exports that have been delayed or canceled include farm equipment, fertilizer, lumber, tires, food and oil products, the organization...

https://www.freightwaves.com/news/canadian-trucking-group-nuclear-winter-may-hit-canada-us-freight

Cross-border freight gets reprieve from ‘Liberation Day’ tariffs

WASHINGTON — Cross-border freight markets got some positive news out of the slate of reciprocal tariffs announced by President Donald Trump at the White House Wednesday with an important exclusion specific to the United States-Mexico-Canada Agreement.

President Trump with tariff scorecard on Wednesday. (Credit: Truth Social)

Trump left the USMCA out of his “Liberation Day” tariff policy that saw a baseline 10% tariff on all U.S. trading partners, with reciprocal tariffs on some countries as...

https://www.freightwaves.com/news/cross-border-freight-gets-reprieve-from-liberation-day-tariffs

Trucking lobby warns against Trump’s tariffs on Mexico and Canada

The American Trucking Associations sees danger ahead for the trucking industry unless the Trump administration changes course on the latest tariffs imposed on Mexico and Canada.

In a statement, ATA President and CEO Chris Spear underscored support for the administration in taking action to combat both illegal drugs and illegal immigration that flow across the border – which is why President Donald Trump says he has allowed the new tariffs on the two countries, along with China, to go into effect...

https://www.freightwaves.com/news/trucking-lobby-warns-against-trumps-tariffs-on-mexico-and-canada

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