Originally published at: Mass layoffs in trucking and retail coming - Apollo - FreightWaves
Apollo Global Management has a grim warning for the trucking industry: a recession is coming and mass layoffs will come with it.
The Tariffs are fluid, as Trump’s mouth has made me money already. Nothing is written in Stone today. Fakenews, as not one person knows how it’s all going to go down! If they did, they would be a liar.
And to Trump’s point, it is pretty sad that China is keeping the economy going in the United States. We need to change this, MAGA!
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BS/ all there saying is that the container haulers are up the creek, China can’t give away their junk to anyone but the US, so they won’t stop dumping it off here
There’s about to be an economic reckoning in the United States of America. And these companies that decided that it was a good idea to move their manufacturing plants to China are about to pay the price. Not only are Chinese companies going to have to pay the tariffs but American companies manufacturing in China are going to also have to pay those tariffs. Take Levi Strauss for example. They manufacture their products in China now.
Consumers will ultimately pay the price and these tariffs aren’t going to change any long term manufacturing strategies. With underwater approval ratings and mass layoffs on the horizon, the GOP may very well lose control of Congress.
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This isn’t the way to change it though. Even if all manufacturing is brought back to the US, we can’t compete with countries where people earn two dollars a day, so costs would rise 200-300 percent and Americans will face a much lower standard of living. No more affordable homes, cars, electronics, clothing, etc.
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Well think about it. What was happening before Wal-Mart and the big box stores? Every city is the same…all the stores are the same, all the restaurants. It’s pitiful. We are Americans and we used to be unique. I remember when I was growing up, it was “made in Japan”, especially in the souvenir shops, but made in the USA was king. We can compete with other countries. We can import “some” but getting back to American made is what’s going to get us back to being great again. If we eliminate a lot of the income tax, people will have a lot more money to spend.
Are you insane,this shit has affected my job drastically, I work for one of the major LTL companies and it has made our sales and hours declined to the point that we are having to get part time jobs just to fill in our financial gaps the Tariff needs to go away now or we will be in a recession for a very long time.
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The freight recession is NOWHERE near its end, and today’s conditions could just be the new norm. Troublesome economic indications + abysmal consumer spend data in combination with the ruins left behind from COVID-era overcapacity will have the freight industry in a bind for years to come. Think California Gold Rush.
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I agree with the “new normal” sentiment. They’ve been talking about a freight recession for years now with no end in sight, so just call it what it is.
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gotta say freight the industry feels kinda like trying to nail jello to a wall lately ya know? the economy is dune this weird dance. one step forward, two steps sideways into a pile of tariffs. you see it rippling through everything not just how many widgets are moved from point A to B.
were seen consumer spending do a bit of a slide which has a effect on volumes. but then you got these stubborn capacity issues stickin around like that one relative at thanksgiving who just won’t leave. the cost of everything from diesel to duct tape keeps gone up. makes ya wonder if we should all just go back to deliverin stuff via carrier pigeon. joke’s on them they gotta deal with bird flu.
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If layoffs do happen I don’t wanna hear anymore about some B’s driver shortage then because if there was an actual shortage then there’d be no need for layoffs.
They are not completly lying. There was and is a shortage of Amercian Citizens that are truckers.
The government needs to revoke all the VISA holders and start fining companies that employ illegal aliens.
Even if new manufacturers could complete with the price of foriegn goods, the factories required are years away from being built. The architecture, engineering, city permitting, county permitting, state permitting, etc. will take a long time before shovels are put into the ground. Unemployment has been low for several years, and finding people for the construction and operation of these manufacturing plants will be difficult. Unless Trump changes his policies on tariffs, American consumers will be paying higher prices for the next few years.
Tariffs are a tax paid for by the importer (a US company), and most of that additional cost will be passed on to consumers. What I don’t understand is why we have the biggest tax increase of my life without Congress authorizing it. This is exactly the reason we had the Boston tea party.
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Everyone is forgetting about piggy back, if the container segment gets weak, there’s intermodal.