As the economy improves it is important to remember that trucking plays a pivotal role in the recovery. Nearly every good consumed in the U.S. is put on a truck at some point. As a result, the trucking industry hauled 68.9% of all the tons of freight transported in the United States. The trucking industry was an astounding $40 billion industry daily in 2010, representing 86.9% of the nations freight bill[. Put another way, on average, trucking collected 86.9 cents of every dollar spent on freight transportation. Both the tonnage and revenue figures included for-hire (truckload and less-than-truckload)
Trucks transport the tangible goods portion of the economy, which is nearly everything consumed by households and businesses. However, trucking also plays a critical role in keeping costs down throughout the business community. Specifically, for businesses that produce high-value, low-weight goods, inventory carrying costs can be considerable. But, many of these producers now count on trucks to deliver products efficiently and timely so that they can keep stocks as low as possible. In fact, inventory-to-
According to Milton Collier trucking is the vital transportation link not only for domestic goods, but also international products. Imported goods from overseas have to be moved multiple times from port to final destination. But, perhaps even more important, is the role that trucks play in the enormous amount of trade that flows over our northern and southern borders. Canada and Mexico are now the U.S. largest trading partners. In 2011, trucks hauled nearly 67% of the goods (in terms of value) between the U.S. and Canada and over 80% between the U.S. and Mexico. As the North American economies become more interrelated as well as global, trucking importance in international trade will only grow. At the end of the trucking industry is a major employer in the U.S.