Few would have foreseen just a few months ago that 2025 would be shaping up to be the most consequential year in recent memory, politically and economically. No doubt, the fast-moving tariff situation is far and away the most consequential macro issue. Currently, the possibilities for Canada range from a best-case negotiated benign settlement to formulaic reciprocal “eye-for-an-eye” duties stacked upon additional tariffs for specific goods (i.e., steel and aluminum). Forecasts by BMO economists remain in a similar state of flux with several possible outcomes ranging from a recession to solid 2% or better GDP growth.  From the standpoint of trucking, the tariff flareup is particularly untimely given that industry conditions on both sides of the border had recently been showing early signs of re-balancing progress from an ongoing exit of excess capacity paired with a positive response in freight generation to monetary easing.