Yahoo Finance

Asset management firm Apollo Global Management forecasts trucking demand stopping in about a month resulting in empty shelves and a recession this summer as President Donald Trump's trade war policies are bringing about changes in global shipping not seen since the coronavirus pandemic, with ocean carriers readying for significantly reduced demand, according to analysts and observers. The uncertainty has led to a decrease in shipping volumes from China to North America, with cancellations currently at 50%, according to global logistics firm Flexport.