Tariffs? What a mess!
If you are a logistics or supply chain professional, you are used to turbulent waters and living in a sea of uncertainty. But let’s be honest, this tariff “stuff” is taking confusion and uncertainty to new levels!
Since our Two Minute Warnings for the past couple of weeks have been focused on tariffs, we’ve heard from several shippers and they are asking three basic questions:
- What’s “really” going on with the tariff situation?
- When will tariffs actually be imposed?
- How will our company be impacted by tariffs?
One thing is very apparent. Shippers have told us they need more information so that they can draw up plans on how to manage the tariff situation. So if you are a shipper that has these or other questions, then make sure you join us for a new webinar on tariffs that TranzAct will be hosting next week on April 3 at 1pm Central alongside our friends from the National Industrial Transportation League, CSCMP, and the Global Shippers Forum.
This webcast will feature our friend Karyn Booth, Partner and Chair of Thompson Hine’s Transportation Practice. Karyn will be joined by her fellow Partner, Dan Ujzco, and together they will update you on the tariff situation and the “China Ship Tax.” Another friend Holly Pearce, Director of Logistics and Warehousing for Otis Elevator, will share insights on how Otis Elevator is preparing to manage the tariff situation. This is a dynamic panel that understands the tariff landscape.
Cargo Theft
The second item we’re bringing to your attention this week is what’s going on with cargo theft. If you’re ignoring the threat and risk associated with cargo theft, your company is playing with fire! This has always been a concern for those managing logistics, but this issue has quickly moved to the forefront as the problem has become more widespread. We’ve picked up some great tips and lessons learned from events we’ve been attending. If you want to avoid losing thousands or hundreds of thousands of dollars, give us a call because there are some critically important things that you need to know. Stay tuned for more on this topic in weeks to come.
LTL Classification Issue
A third and final item we’re covering is what’s going on with the LTL industry. For months, we’ve been highlighting how the NMFTA is going to be making major changes to the classification system this year. The NMFTA has gone on record in stating that these are the most significant changes to the classification ever! These changes will enable LTL carriers to move to a density-based pricing model. Depending on the products your company ships, your LTL costs could change significantly.
In the near future, the NMFTA will be hosting webinars to bring shippers up to speed ahead of July 19, 2025 – the date that the classification changes are currently planned to become effective.
If you’re wondering what to do, you don't have to figure it all out on your own. We have a team experienced in LTL shipping and tools such as an LTL Strategic Assessment. Whether you could use help with LTL classification changes or other concerns, we encourage you to get in touch. Simply give us a call, send me an email, or let's meet one-on-one via Calendly.
BY MIKE REGAN, CO-FOUNDER OF TRANZACT
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