FTR Conference: Sept. 8–11 in Indianapolis — trucking and rail focus.

Tariffs & Geopolitics:

• U.S. tariffs may return July 8.
• Risk of Strait of Hormuz closure could spike oil prices, similar to past global shocks.
  
  

Rail Traffic (Week Ending June 21):

• Total traffic: ↓ 1.3% YoY
• Carloads: ↑ 3.5% (grain, metal scrap, autos up)
• Intermodal: ↓ 0.8% (BNSF/UP weak; CN/CPKC strong)

Tariff Impact:

• U.S. metal traffic ↑; Canada ↓ — shows expected shift due to steel/aluminum tariffs.