American Dollar to Canadian Dollar = 0.748519; American Dollar to Chinese Yuan = 0.138257; American Dollar to Euro = 1.089425; American Dollar to Japanese Yen = 0.006980; American Dollar to Mexican Peso = 0.057970.

Canadian Prime Minister Mark Carney announced last week $1.3B in new supports for the steel and lumber industries hit hard by U.S. tariffs. U.S. President Donald Trump has imposed 50% tariffs on steel, and softwood lumber, long subject to U.S. tariffs, is currently taxed at 45% after the Trump administration's hike last month. Carney said the decades-long process of an ever-closer economic relationship between Canada and the United States is now over. "As a consequence, many of our strengths have become vulnerabilities. Last year, more than 75% of our exports went to the United States. Ninety percent of our lumber exports, 90% of our aluminum exports, and 90% of our steel exports, all bound for a single market," Carney said.

Trucking activity in the United States increased again in August, pushing the level up to the highest point since December 2023. Specifically, truck freight tonnage rose 0.9% after gaining 1.1% in July, according to the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index.  “The good news is that truck freight volumes had a nice end of the summer,” said ATA Chief Economist Bob Costello. “However, while I’d like to predict a strong rebound in freight levels through the upcoming holidays, I can’t. I believe traditional seasonal patterns are off this year as shippers adjust to tariffs. Plus, housing remains soft, the slowing labor market is likely to show up in consumer spending at some point, and most manufacturing metrics are either decelerating or declining.” Trucking serves as a barometer of the U.S. economy, representing 72.7% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.27 billion tons of freight in 2024.*  Motor carriers collected $906 billion, or 76.9% of total revenue earned by all transport modes.