Transportation Industry Wraps Up Solid Year, Despite Tariffs

ZACH THOMPSON | February 5, 2019

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With tariffs, a U.S.-China trade dispute and technology developments, the U.S. transportation industry was anything but lackluster in 2018. Although the industry in general fared well despite major disruptors, uncertainty surrounding tariffs raise concerns for the future.
Year in Review On-the-road trucking and air transportation has been trending upward in the last few years and the demand for transportation has been steadily increasing. This is primarily due to President Trump’s Federal Tax Cuts and Jobs Act, which cut corporate taxes from 35 percent to 21 percent, the lowest that we have seen in a while.For the U.S., those tax breaks have brought additional cash flow to the transportation industry, giving domestic firms the ability to build revenue and profits. The U.S. gross domestic product, which was only expected to reach 3 percent in 2018, grew 4 percent in the second quarter, the highest gain since 2014. A higher GDP meant more shipments, more purchasing and more trade, especially in the petroleum, motor vehicle, motor vehicle parts, and food and grain sectors.

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