The October freight market is showing signs of recalibration. Truckload and LTL rates had a small summer bump but are sliding again, ocean carriers are canceling sailings to slow a steep rate drop, and air cargo is steady but crowded with capacity. Warehousing costs keep climbing, even as demand for space cools for the first time in 15 years. Add in rail mergers, trucking safety crackdowns, and rising labor costs pushing automation, and the domestic picture is one of transition rather than growth.
Globally, policy shifts are shaking things up as much as demand. The U.S. ended the de minimis exemption, meaning every import now faces duties and full paperwork, while tariffs are spreading across sectors from timber to trucks. Trade flows are shifting—Mexico is betting $22B on port upgrades to seize nearshoring, and Asia-Pacific is gaining steam as an e-commerce hub. In short: freight is cheaper, rules are stricter, and the supply chain reset is being driven more by policy and adaptation than by consumer demand.
