Truckstop and Bloomberg Intelligence Survey Reveals Tariffs Are Top of Mind for Carriers

BOISE, Idaho, May 8, 2025 /PRNewswire/ -- According to the latest Bloomberg | Truckstop survey of owner-operators and small fleet carriers, 65% believe that tariffs may hinder the industry. Despite this, a majority remain optimistic about short-term, with 62% expecting sustained demand and 55% bullish about rate growth.

"Carriers aren't turning a blind eye to the potential volatility that could arise from tariffs," said Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. "However, most carriers believe rates and volumes still have some room to grow and many believe that the worst of the challenging freight conditions may be over."

The Bloomberg | Truckstop Q1 2025 Truckload survey shows:

• Carriers show resilience: While many carriers remain optimistic that demand and rate recovery may be on the horizon, there are also concerns about the potential impact of the new administration's policies on the freight landscape. Despite uncertainties, carriers remain committed to the industry. Fifty-seven percent of respondents plan to stay on as either owner-operators or company drivers, a seven-percentage point increase compared to the Q4 2024 survey.
• Stronger truckload demand in the near term: Truckload volumes showed modest improvement in the first quarter, with 25% of respondents reporting year-over-year load growth — an increase of 11 percentage points compared to our fourth-quarter poll. Demand growth also outperformed typical seasonal trends, which we attribute to pull-forward activity ahead of anticipated tariffs. Carriers remain optimistic that U.S. policies will boost domestic freight activity, largely looking past inflation concerns. In fact, 62% of respondents expect demand to increase over the next 3–6 months, up seven-percentage points from the fourth quarter.
• Carriers optimistic about future spot rates: Carriers are showing greater optimism about spot rates compared to the fourth quarter, with 55% now expecting an increase over the next three to six months — a four-percentage point improvement from our previous survey. This uptick in sentiment likely reflects a more favorable rate environment in the first quarter, as 19% of carriers reported year-over-year rate improvements, up six percentage points from the fourth-quarter survey.

"As we mark 30 years of serving the freight community, it's clear that resilience and adaptability remain the hallmarks of this industry," said Kendra Tucker, chief executive officer, Truckstop. "At Truckstop, we're focused on providing the technology and insights that help carriers navigate whatever comes next."

The Bloomberg | Truckstop survey of owner-operators and small fleets provides timely channel checks into the health of the spot market. The sample size was 200, consisting of dry-van, flatbed, temperature-controlled and specialized/diversified, hot-shot and step-deck carriers. Of the respondents, 50% operate just one tractor. 

The complete survey is available to Bloomberg Terminal subscribers via BI. 

About Truckstop 
Truckstop is a trusted partner for carriers, brokers, and shippers, empowering the freight community through a platform of innovative solutions for the entire freight lifecycle to help increase efficiency, automate processes, and accelerate growth. As one of the industry's largest neutral freight marketplaces, Truckstop provides the customer service as well as scale of quality loads and trucks to give customers of all sizes, whether on the road or in the office, the transparency and freedom to build lasting relationships and grow their businesses. To learn how Truckstop is helping move the freight community forward, visit https://truckstop.com.

About Bloomberg Intelligence
Bloomberg Intelligence (BI) research delivers an independent perspective providing interactive data and investment research on over 2,000 companies, 135 industries and all global markets. Our team of 400 research professionals help our clients make decisions with confidence in the rapidly moving investment landscape. BI analysis is backed by live, transparent data from Bloomberg and 500 third-party data contributors that clients can use to refine and support their ideas. Bloomberg Intelligence is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App. Visit us at https://www.bloomberg.com/professional/product/bloomberg-intelligence/ or request a demo.

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SOURCE Internet Truckstop Group, LLC