U.S. Freight Spot Rates Jump 20% as Tariff Front-Loading Drives May Surge

8 articles · Updated · FreightWaves · May 13

National dry van spot rates are up more than 20% from a year earlier by mid-May, while flatbed volume is running nearly 50% higher as importers rush goods ahead of possible tariff increases.
That burst is being driven less by a true freight recovery than by shippers pulling forward inventory from China, Mexico and Canada before tariff terms lock in or escalate.
The market is tightening fast: outbound tender rejections are near 14%—well above the 7% to 8% level that typically signals sustained spot-rate pressure—and reefer rates are also climbing before produce season.
Carriers face a cash squeeze even in the upswing, with invoices often taking 30 to 45 days to clear, diesel at $5.64 a gallon versus $3.65 a year ago, and quick-pay or factoring fees cutting into margins.
Analysts warn the pattern is a familiar boom-bust cycle: once warehouses fill, freight demand can fade quickly, leaving small carriers exposed to higher fuel, repair and truck costs tied to tariffs.

Are small trucking companies driving into a cash-flow crisis when this tariff-fueled freight boom ends this summer?

With freight and tariffs surging, how much more will American consumers pay for everyday goods by the end of the year?

How is this tariff-driven supply chain chaos permanently changing where and how American goods are made?