The coronavirus, or COVID-19, has changed life as we know it to a ‘new normal’ in less than a month. The trucking industry has had to do a total overhaul on how they can operate during this time.
The newly signed tax bill, Tax Cuts and Jobs Act, has gone into effect and has significantly limited itemized individual tax deductions that are available to trucking companies and their drivers.
With 2018 coming to a close, US trucking companies are expecting to see freight volumes remain steady if not increase heading into 2019. One factor leading to a rise in truckload shipments can be linked to increased tariffs on Chinese goods by the US. The uptick in tariffs can be traced back September of 2018 when President Trump raised tariffs to 10% on 200 billion worth of imported Chinese products. This news immediately impacted and shifted peak shipping seasons on land and by sea in the US.
The millennial crowd views UBER as a great opportunity to earn cash on a regular, or part time basis. The schedules can be a flexible as necessary, which is why many feel the Millennial's take a strong liking to the opportunity.