The escalating U.S.-China trade war has led to a significant downturn in global freight activity, with ocean freight orders plummeting by 50% year over year.
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00:00The escalating U.S.-China trade war has led to a significant downturn in global freight activity,
00:05with ocean freight orders plummeting by 50 percent year-over-year,
00:09contributing to what industry leaders are calling a freight recession.
00:12The World Trade Organization has revised its 2025 global merchandise trade forecast
00:17from a 3 percent increase to a 0.2 percent decline,
00:22citing the resurgence of U.S. tariffs and broader economic spillovers.
00:26Meanwhile, the U.S. freight recession continues to strain the trucking industry,
00:30with companies like J.B. Hunt reporting an 8 percent drop in operating income
00:34compared to the previous year, and its stock dropping as much as 9 percent.