Hauling Industry News

Truck Orders to Plunge, GDP to Fall Lower, Diesel Prices to Rise in 2020

By Pulltarps Mfg | January 16, 2020

Story by Roger Gilroy | Staff Reporter | www.ttnews.com

As 2020 begins, the signs are mixed for trucking. Expectations for an environment marked by weaker freight demand, pressure on profitability, higher-priced diesel and falling truck and trailer production mix with lingering talk in some circles of a possible recession. An uncertain national political environment could also chill business outlooks.

At the same time, hopeful signs are appearing — U.S.-China tariffs appear to be getting sorted out and a new trade agreement vital to trucking is on tap. And despite the nearer-term outlook, equipment suppliers continue to invest for better times.

While Canadian approval yet remains, Mexico’s parliament has approved the pending U.S.-Mexico-Canada Agreement on trade that replaces NAFTA. The U.S. House approved the measure Dec. 19, and it looks like the Senate will vote on it in early 2020.