Here are some of the top stories impacting logistics and global trade.
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- The Supreme Court is expected to rule on the legality of IEEPA tariffs in the coming weeks. The U.S. Customs office announced that tariff revenue from the tariffs has exceeded $200MM.
- The Court of International Trade ruled that the liquidation of a customs entry will not prevent importers from obtaining refunds of IEEPA tariffs in cases currently pending before the court, if the U.S. Supreme Court ultimately finds the tariffs unlawful.
Few new country-specific tariff announcements have been made recently. The most notable were adjustments to specific Brazilian and S. Korean tariff rules, and the elimination of U.K. pharmaceutical tariffs.
Air cargo demand from Southeast Asia to the US continues to rise, mostly because of a shift away from sourcing from China. In October, Southeast Asia-US volumes jumped 40% year-over-year, with strong growth from Vietnam, Thailand, Malaysia, and especially Taiwan. A lot of that was driven by high-tech and semiconductor exports. China, Hong Kong, and South Korea have declined as U.S. importers try to diversify their suppliers because of tariffs and policy changes. Spot rates from Asia Pacific were up 4% ahead of peak holiday shipping.
Our take: The market is showing the effects of tariffs as global supply chains are adapting. China exports are decreasing to the US, while increasing to SE Asia. And, as the data shows shipments from SE Asia to the US are growing. It’s a good time to review your logistics provider mix and see if there are opportunities to reduce costs and improve transit times. This shift is a trend that appears here to stay.
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The Suez Canal is showing early signs of recovery as a truce with the Houthis has led to a pause in Red Sea maritime attacks. Weekly transits rose to 269 ships, an increase from 244 in October and 229 during most of 2025, though this is still well below pre-crisis averages in the range of 495 to 500. The Suez Canal Authority is actively encouraging all major carriers to return, hoping to restore their toll revenues, which are vital to Egypt's economy. If peace holds, analysts are expecting more shipping lines to resume their Suez routes, which could ease global shipping supply tightness by the middle of 2026.
Our take: The issues in the Red Sea have been impacting ocean freight for a long time, and this is the first real sign that things will improve in the region. This, too, represents an opportunity for shippers to reevaluate their supply chains as Asia-to-Europe lanes will hopefully return to “normal” soon.
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US manufacturing activity contracted further in November, with the ISM index falling to 48.2, marking nine straight months of decline. New orders dropped at the fastest rate since July, and employment saw its biggest cut since 2020. Uncertainty and rising input costs have customers delaying purchases, which is keeping demand weak. Although production did rebound slightly, output remains volatile, and only four sectors, which are mainly tech-related, reported growth. As trade policy doubts persist, most manufacturers have little hope of any near-term improvement, clearly underscoring how cost pressures and tariff unpredictability are weighing heavily on US factories.
Our take: Manufacturing is still struggling in the US, and so is the domestic freight market. Now could be a good time to renegotiate TL/ LTL agreements to take advantage of lower pricing offered by carriers.
Read more here.
REMINDER: Important changes are coming for e-fling certificates by the Consumer Product Safety Commission. Read more here.