Morning Minute | April 28, 2025

LTL carrier Saia faced a difficult first quarter, reporting a net loss and earnings per share significantly below expectations, leading to a 30% drop in its stock price. Tariffs and other market forces impacted demand, exacerbating costs from carrying excess capacity.  U.S. Customs and Border Protection (CBP) completed audits in March that identified $310 million in duties and fees owed due to undervalued or improperly declared goods. This represents a 10,590% increase in assessed fees compared to February, which experts attribute to increased scrutiny under the administration's new trade policy.  In legal news, the patent infringement lawsuit between Omnitracs and Motive concluded with a federal jury unanimously ruling that Motive was not guilty of infringing any of Omnitracs’ patents related to fleet management technology.  Additionally, FreightWaves CEO Craig Fuller discussed the 'collapse' of outbound freight from China into the United States on CNBC. This situation, affecting West Coast ports with blank sailings, is driven by factors including tariffs on Chinese goods, proposed fees on Chinese carriers, and economic uncertainty impacting American consumers.  Today’s upcoming FreightWaves TV programming includes 'The Stockout' and 'What the Truck?!?', and mentions upcoming events like the Freight Fraud Symposium and the Freight Fraud Fighters Awards  Learn more about your ad choices. Visit megaphone.fm/adchoices