Industry Insights
March 2025
By PGL
Welcome to the PGL Industry Insights report for March 2025.
President Trump signed a proclamation imposing 25% tariffs on imported automobiles and key auto parts under Section 232 of the Trade Expansion Act. Importers of automobiles under the United States-Mexico-Canada Agreement can apply for certification of their US content, with tariffs applying only to non-U.S. portions.
For the fourth consecutive week, U.S. rail traffic rose over 5% year-over-year, reaching almost half a million carloads and intermodal units. Growth was led by metallic ores, minerals, and coal, while forest product shipments declined.
Post-Lunar New Year, trans-Pacific shipping rates have eased, despite stronger volumes. Rates sit at 20% below 2024 lows. Asia-Europe rates have also fallen due to weaker demand and new carrier alliances.
After three weeks of declines, diesel prices rose 1.8 cents to $3.567 per gallon. Market uncertainty, sanctions on Iranian oil, and rising ultra-low sulfur diesel futures contributed to the increase.
In Labor News, rail workers ratified a new contract with the National Carriers’
Conference Committee. The deal guarantees 17.5% wage increases, improved healthcare, and more vacation time.
That’s it for this month’s report. Subscribe to our channel to make sure you get the latest supply chain insights. As always, PGL will be here to keep you informed 24/7/365.
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