Recent Survey Highlights Carriers' Concerns About Tariffs and Future Optimism in Freight Industry

Recent Insights from the Truckstop and Bloomberg Intelligence Survey

In an extensive survey conducted by Bloomberg Intelligence and Truckstop, concerning owner-operators and small fleet carriers, a significant 65% of respondents expressed concerns that tariffs could negatively affect the freight industry. However, despite these apprehensions, there remains a prevailing sense of optimism as 62% of participants anticipate sustained demand in the near future.

Lee Klaskow, a senior analyst in freight transportation and logistics at Bloomberg Intelligence, commented, “Carriers are not ignoring the potential volatility that tariffs may bring. However, their outlook remains positive regarding growth in rates and volumes. A number of carriers believe that the most challenging conditions in freight logistics may be behind us.”

Resiliency of Carriers Amid Challenges

The findings from the Q1 2025 Truckload survey indicate that resilience is a key characteristic among carriers. Not only do many operators believe demand for their services may rebound, but they also trust that rate recoveries are imminent. A notable 57% of survey respondents expressed their commitment to staying within the industry, either as owner-operators or company drivers, indicating a 7% increase compared to the previous quarter.

In terms of truckload volumes, the survey revealed a modest uptick, as 25% of operators reported a year-over-year load growth. This is an improvement of 11 percentage points from the last quarter, suggesting that demand is growing beyond seasonal expectations. This growth is largely attributed to proactive measures taken by carriers who are gearing up for the anticipated impact of tariffs on the market.

Forecasting Future Demand and Rates

Looking ahead, 62% of carriers predict an increase in demand within the next 3 to 6 months, marking a rise of 7% from the last quarter. Moreover, optimism about future spot rates is also reflected, with 55% indicating they expect an increase. This represents a modest improvement in sentiment from the previous quarter’s survey.

This increasing optimism can likely be attributed to a more favorable rate environment observed in Q1, where a reported 19% of respondents noted year-over-year rate improvements, representing a six-point increase from the previous quarter.

Kendra Tucker, CEO of Truckstop, noted, “As we celebrate 30 years in service to the freight community, it’s evident that resilience and adaptability are hallmarks of this industry. At Truckstop, we are dedicated to delivering technology and insights to assist carriers in navigating future challenges.”

Comprehensive Survey Methodology

The Truckstop and Bloomberg survey was designed to evaluate the health of the spot market and consisted of responses from 200 carriers, which included dry-van, flatbed, temperature-controlled, specialized, and diverse segments. It's notable that half of the respondents operate only one tractor, underscoring the survey’s representative nature of smaller operators in the freight market.

The complete survey findings are accessible to Bloomberg Terminal subscribers via BI, offering in-depth insights into market trends and forecasts.

For more information about Truckstop's innovative solutions and how they support the logistics community, visit Truckstop. For insights on Bloomberg’s investment research and market intelligence, explore Bloomberg Intelligence.

In conclusion, while the looming impact of tariffs remains at the forefront of carriers' minds, their optimism about demand recovery and rate growth reflects a resilience that has characterized the freight industry through its many challenges.