According to the latest Bloomberg | Truckstop survey, 65% believe that tariffs may hinder the industry. Despite this, a majority remain optimistic about short-term, with 62% expecting sustained demand and 55% bullish about rate growth.
“Carriers aren’t turning a blind eye to the potential volatility that could arise from tariffs,” says Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “However, most carriers believe rates and volumes still have some room to grow and many believe that the worst of the challenging freight conditions may be over.”
“As we mark 30 years of serving the freight community, it’s clear that resilience and adaptability remain the hallmarks of this industry,” says Kendra Tucker, CEO, Truckstop. “At Truckstop, we’re focused on providing the technology and insights that help carriers navigate whatever comes next.”
Key takeaways:
- Despite uncertainties, carriers remain committed to the industry. 57% of respondents plan to stay on as either owner-operators or company drivers, a seven-percentage point increase compared to the Q4 2024 survey.
- Truckload volumes showed modest improvement in the first quarter, with 25% of respondents reporting year-over-year load growth, an increase of 11 percentage points compared to our fourth-quarter poll. Demand growth also outperformed typical seasonal trends, which we attribute to pull-forward activity ahead of anticipated tariffs. Carriers remain optimistic that U.S. policies will boost domestic freight activity, largely looking past inflation concerns. In fact, 62% of respondents expect demand to increase over the next 3-6 months, up seven-percentage points from the fourth quarter.
- Carriers are showing greater optimism about spot rates compared to the fourth quarter, with 55% now expecting an increase over the next 3-6 months, a four-percentage point improvement from our previous survey. This uptick in sentiment likely reflects a more favorable rate environment in the first quarter, as 19% of carriers reported year-over-year rate improvements, up six percentage points from the fourth-quarter survey.
