Nearshoring Boosts Cross-Border Trucking in 2024
As the US-Mexico border continues to play a crucial role in global trade, near-shoring is expected to drive growth in cross-border trucking in 2024. According to Uber Freight's Q2 Market Update & Outlook Report, near-shoring is boosting cross-border trade between the US and Mexico.
Why Near shoring Matters
Companies are relocating parts or all of their supply chains to Mexico due to economic tensions with China. This trend is expected to continue, with many companies establishing factories and warehouses in Mexico.
Challenges Ahead
While near shoring is driving growth, there are challenges ahead. Driver shortages in Mexico and cargo theft remain major issues. Uber Freight expects to see more exports from Mexico to the US this year, but headwinds include driver shortages and cargo theft.
What Truckers Need to Know
Expect increased demand for cross-border trucking in 2024
Near shoring will continue to drive growth in cross-border trade
Driver shortages and cargo theft remain major challenges
Consider diversifying modes of transportation, such as intermodal
For more in-depth reading, visit Freightwaves, a transportation industry leading news website.
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