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White House Unveils New Tariffs; Railroads Gain as Shippers Shift Cargo to Rail From Trucks By Mark R. Long | WSJ Logistics Report

The U.S. is imposing tariffs ranging from 10% to 12.5% on imports from its major trading partners as part of a new set of duties

that the Trump administration says are designed to combat forced labor.

The Wall Street Journal's Gavin Bade writes that the new duties, announced by U.S. Trade Representative Jamieson Greer's office on Thursday, are meant to replace Trump's temporary 10% global tariff , which expired today. Trump put that temporary tariff in place in February, after the Supreme Court struck down

most of his global tariffs.

The new levies target 60 countries that Greer's office says represent about 99% of U.S. trade. Countries that have laws on the books to combat forced labor were given a 10% tariff, while those without such statutes were given a 12.5% tariff.

The new tariffs were to go into place at 12:01 a.m. Eastern time, the same time the temporary tariffs expired. Goods covered by separate national security tariffs like steel, aluminum, automobiles and parts, won't be subject to the new tariffs. Certain food and agricultural imports, fertilizers and energy products will also be exempt.

A fresh wave of businesses is considering trading away their rights to potential tariff refunds for immediate cash, to manage debt or for other capital planning. (WSJ) CONTENT FROM: PENSKE Gain Visibility. Gain Ground with Penske Logistics.

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Corporate Results

Union Pacific, Norfolk Southern and CSX all posted higher quarterly revenue, helped as more shippers moved cargo from truck to rail , the Journal's Esther Fung writes.

A drop in the number of truck drivers has pushed up the cost of moving cargo on U.S. roads and compelled many shippers

to move some of their goods to the less-pricey rail option. The Trump administration has been tightening rules on commercial driver licenses issued to immigrants .

Union Pacific on Thursday also raised its full-year earnings outlook . The upgrade came a day after the railroad reached a deal with Canadian National Railway that gives the Montreal railroad further access in the Midwest in exchange for ending its opposition to Union Pacific's $71.5 billion merger with Norfolk Southern.

The proposed merger faces hurdles, however. The Surface Transportation Board paused its review of the deal after the regulator said in May it needed more information

to evaluate the two railroads' revised application. The deal has also faced resistance from customers and rivals who argue that it would drive up freight prices and damp competition.

Kuehne + Nagel raised its earnings guidance

again as the Swiss logistics company posted higher quarterly profit and revenue, supported by its air logistics unit. (WSJ) Ryder System posted higher quarterly sales and profit as the used vehicle and freight markets

showed signs of improvement. (Dow Jones Newswires) Dow said higher prices for polyethylene , used in shopping bags, plastic bottles and other goods, helped drive higher net sales and a swing to profit in the second quarter. (WSJ) American Airlines reported a 29.7% increase in second-quarter cargo operating revenue, but said it was on course for an overall adjusted loss

in the current period after the latest surge in jet fuel prices. (WSJ) Number of the Day Maritime Security

Vessels can still get oil and goods to customers in Asia when the Bab al-Mandeb strait is shut. But this requires a massive detour through the Suez Canal

and around Africa, adding 10 to 15 days to the journey, according to ship tracker Kpler.

There is another practical barrier: When fully loaded, the biggest tankers sit too deep in the water to pass through Suez. Shippers would have to operate supertankers on partial loads. These longer and less efficient journeys will tie up more tanker capacity and push up shipping costs for Asian refiners.

Brent crude hit $100 a barrel

for the first time in two months as the Iran war widened. (WSJ) Chinese vessels appear to still have partial safe passage

through waters controlled by Yemen's Houthi militants. (Lloyd's List) Insurers will end cover for vessels that pay an Iranian toll

to transit the Strait of Hormuz under new terms written by the Lloyd's insurance market. (TradeWinds) In Other News The average 30-year fixed mortgage rate in the U.S. rose to 6.58%, its highest level this year . (WSJ) Canadian retail sales rose in May

for a fifth straight month, boosted by higher gasoline prices. (WSJ) South Korea's economy expanded faster than expected

in the second quarter, as brisk chip exports offset weak private consumption and construction investment. (WSJ) The U.K.'s Segro said it would recommend

Prologis's latest takeover proposal if a formal offer were to be made. (WSJ) Ford Motor agreed to allow China's Geely Automotive to build some of its cars at Ford's Valencia plant in Spain, while also committing to jointly develop a new SUV . (WSJ) Kuehne + Nagel is discussing strategic options

for its Asia-focused Apex Logistics unit with potential advisers. (Bloomberg) Electra plans to invest $850 million in its first aircraft factory

in Springfield, Ohio. (SupplyChain24/7) FedEx released its 2026 peak season surcharges , which will drive up costs for deliveries from Oct. 26 until Jan. 17, 2027, with prices peaking from Nov. 23 to Dec. 27. (SupplyChainDive) Drone-boat maker Saronic Technologies and South Korea's Samsung Heavy Industries are forming a partnership

for autonomous vessel development and shipyard production technology. (WorkBoat) Home Depot-owned Temco Logistics is ending flatbed delivery service

nationwide and shutting down operations at its West Dallas facility. (WFAA)

In this week's podcast: As the Strait of Hormuz remains under threat, Washington faces questions over whether military pressure, diplomacy or both can still shape the outcome. Also, Jerry Perullo of Adversarial Risk Management on how a test of frontier models at OpenAI went wrong. New episodes every Friday on Apple Podcasts , Spotify

and Amazon .

About Us

Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

July 24, 2026 07:02 ET (11:02 GMT)

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