WEEK AUG 13TH TO 16TH
Mexico’s trade with the U.S. reached a record $415.4 billion in the first half of 2024, with Laredo, Texas, as the top U.S. trade gateway. PRIMO’s strategic coverage ensures seamless cross-border trade, enhancing Mexico’s leading position and supporting vital crossings like Laredo, crucial for maintaining robust U.S.-Mexico commerce.
U.S. retailers are accelerating their shipments and rerouting cargo to West Coast ports in anticipation of a potential strike at East and Gulf Coast ports, as contract negotiations stall and the current agreement nears expiration. The National Retail Federation urges resolution to avoid significant disruptions, which have already led to increased shipping times and costs due to ongoing global logistical challenges. PRIMO’s robust network and flexible transportation solutions can mitigate these risks by providing alternative shipping routes and modes, ensuring timely and efficient cargo handling despite potential strikes.
The frozen food industry, valued at nearly $300 billion globally, relies on intricate freezing and cold storage processes to maintain food quality and safety from production to consumption. Innovations in freezing technology and cold chain logistics have significantly reduced energy consumption and environmental impact, ensuring that frozen foods remain a staple in global nutrition and convenience. PRIMO’s advanced freight and logistics solutions, with their human-first approach and robust carrier network, directly address the industry’s need for reliable and efficient transportation, ensuring that the integrity and safety of frozen foods are maintained throughout the supply chain.
A proposed change in tax methodology for motor carriers from a mileage-based to a value-based system was rejected by a committee of the Multistate Tax Commission after strong opposition from the American Trucking Associations. The rejection preserves the longstanding mileage-based tax system, seen as more equitable and less burdensome for the trucking industry. PRIMO provides critical insights into regulatory changes, helping clients navigate complex compliance landscapes and avoid unexpected financial strains.
North American Class 8 truck orders experienced a 13% year-over-year decline in July, continuing a trend of reduced orders due to weaker freight markets and high inventory levels. Despite these market fluctuations, companies like Mack Trucks remain committed to supporting customer needs with a diverse vehicle lineup. For businesses facing uncertainties from declining capacity, PRIMO provides reliable logistics solutions to navigate these challenges efficiently.