The latest episode of FTR’s Rail and Intermodal Update, hosted by Joseph Towers, recaps insights from the Rail Equipment Finance Conference and discusses ongoing uncertainties in the industry. A key takeaway from the event was the widespread hesitancy among industry players—shippers, OEMs, lessors, and component providers—due to shifting tariff policies. 

Recent tariff developments include the implementation of 25% tariffs on Canadian and Mexican goods and an additional 10% on Chinese imports, followed by a carve-out for automotive imports from Canada and Mexico and a temporary pause on Mexican and Canadian tariffs under USMCA. Additionally, an unexpected announcement of reciprocal tariffs starting April 2nd adds further uncertainty. 

Beyond trade policy, rail traffic showed a rebound after weather-related disruptions, with total volumes up 4.8% y/y. Carloads increased by 2.6%, with notable growth in grain (+5.8%), coal (+4.9%), and motor vehicles (+4.5%), though forest products (-2.9%) and nonmetallic minerals (-0.4%) declined. Intermodal traffic grew 6.8% y/y, reversing a three-week decline, though Canadian intermodal volumes remained negative (-6.0%).

The Rail Market Update is hosted by FTR’s Senior Analyst, Rail, Joseph Tower.  As this information is presented, you are welcome to follow along and look at the graphs and indicators yourself by downloading the PDF of the presentation.

Download the PDF: https://www.ftrintel.com/rail-podcast

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