4 days ago
On the Record: Trucking industry surges as tariffs threaten holiday season
PEORIA, Ill. (WMBD) — As uncertainty over tariffs persist, trucking companies are hustling to move goods as fast as possible to store shelves.
Don Schaefer, who heads the Midwest Truckers Association, joined 'On the Record' for a snapshot of what's happening here in Central Illinois.
He said the transportation, distribution and logistics industries, which represent about one in 10 jobs in the Midwest, are feeling the pressure.
'We're seeing a mad dash to get products into the country, especially from places like China and Hong Kong,' he said. 'This is the trucking industry's Christmas. Everything that hits store shelves for the holidays has to be stateside by Labor Day.'
Many products, especially toys and electronics, come from overseas. Schaefer says the journey can take up to two months, starting by boat, then train, and finally by truck.
'Right now, it's all over the board because everyone's kind of up in the air about, what the tariffs mean, and how quick things are going to move, what's going to come over and what is not going to come over,' he said.
Schaefer says truck shipments are up 70% compared to this time last year, a sign that companies are racing to beat potential tariffs.
'Trucks are full right now,' he said. 'The uncertainty about tariffs is why there's this pressure.'
That concern stretches beyond consumer goods. Central Illinois farmers are watching closely too, especially those exporting soybeans and corn. Much of their product is trucked to river terminals along the Illinois River before being shipped abroad. With harvest season approaching, Schaefer said timing is critical.
'The export of that is critical, especially right now, because what the farmers want to do is make sure they get their grain beans cleared up before harvest time comes in the fall. So it's a very tight timetable,' he said.
So what does this mean for you at the store? Schaefer says companies are doing what they can to avoid raising prices, even if tariffs go into effect.
'If a tariff is imposed, the goal is to keep price hikes minimal. But much depends on ongoing trade negotiations,' he said. 'The administration wants fair agreements, so we could see more deals struck in the months ahead.'
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