Why Is Trucking So Bad Right Now? When Will It Get Better?

How to become a millionaire in trucking? Start as a billionaire. At least that's what they say. But all emotions aside, trucking is bad right now for a reason that is backed up by facts. SO let's look at what the facts are.
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SOURCES:
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[@gilbertoavina6156]

During the boom I didn't get carried away. I kept running my 1996 W900 on paper logs, overhauled the engine and trans, and rented a dry van from my company. When the business went to shit I switched over to regional containers. And here I am now, no truck or trailer payments, and carrier provided insurance. 😎

[@bobakforouzan7437]

Well done 👍 are you running profitably doing containers?

[@djfitnus]

Smart trucker, smart trucking. Own all your equipment and get paid Rebuild, don't replace Good job, trucker Smart, smart, smart!!!😁

[@gilbertoavina6156]

@bobakforouzan7437 it's enough to stay afloat. There are good and bad weeks.

[@captaincaveman2501]

@@gilbertoavina6156 So.... no payments and insurance provided and making enough to "stay afloat". lol yeah you're winning........

[@gilbertoavina6156]

@captaincaveman2501 yes in an environment where many drivers are going bankrupt and are upside down on their loans and leases. You're damn right I'm winning.

[@Inc-rs4dx]

$3k weekly for a truck driver 3 years ago? Our business got flooded, now cleaning the excess is painful.. Amazon, Walmart, etc are getting bigger and bigger.. Spot market will never be the same

[@benrothberg6799]

Absolutely!

[@uria711]

Knowledge is NOT power. The APPLICATION of knowledge is power. I know a person who has all the knowledge in the world and does nothing with it and therefore is powerless.

[@dsg9486]

The only thing that is moving up is the american debt.

[@truckingwithnose]

The calls are coming back and the negotiating power is increasing tql is back begging to get their loads covered many of the cheap guys have fallen due to breakdowns and running at a loss I encourage everyone to know your operating cost and always negotiate when possible when possible

[@marktownsend1392]

TQL is only begging because they suck.

[@RJHENSON]

I’m so glad we didn’t have social media like this when we started!! We just ran and made money!! It’s too many people talking!!

[@JohnJohnson-mf3dv]

To have such a narrow view of the world at that age is astounding

[@josesorto3293]

100% correct , too many people talking lies

[@stevenwilbanks2865]

Nothing he said was false. Before social media, you didn't have people getting on Instagram, Facebook, and youtube talking about make $10k a week just driving a truck.​@JohnJohnson-mf3dv

[@RJHENSON]

@@JohnJohnson-mf3dv no distractions

[@AirJockey100]

Yup! I’m running and making money. All the hassle and problems mentioned here don’t even exist in my markets.

[@Patrickz94]

Long story short we are pretty much F#*ked 😂😂

[@goblelshaibiya6035]

😂😂😂😂

[@Mr.Atlanta850]

Until November 5th. Things are guaranteed the star changing quickly. First things first shut down the borders. 2nd ➡️ deport deport deport ALL None US CITIZENS.

[@krasavchik8714]

Want money in trucking? Introduce medallion system like it was back before uber in NYC, Boston and Chicago. It has to be certain number of power units allowed, insuring that those who already are in business will be rich. Other wise it will always be the same problems. “Too many units on the road, then everyone gets horrible rates, slowly some companies are filing for bankruptcy, after many months or even years, those who survived enjoying little bit higher rates. Slowly those rates are becoming good rates, then whole bunch of people who were climbing palm trees 6 months earlier, are like “What is going on? Money here? Just turn that round thing, push that foot square thing and earn 2k a week easy? Iam in”. Same as always. Nothing will change.

[@garyuselman8597]

This is the most well balanced informational channel I have ever listened to! Great Wisdom!

[@ozzieveg]

I walked into Arrow Dealer about end of 2011. I said i needed a good used truck. They asked how much money I had and I said 10k. I actually had double that but 10k was my limit. They found me a 2009 VNL for 45k. I ran that truck til 2022. The head finally blew at 1.3milion miles. I miss that little truck...

[@davidowen9671]

Thank you, Sir. This is a major theme. If babied (e.g., oil changes 6 times a year), can a new Class 8 truck --- and now we hear they are 180ish, not 250+ --- be counted on to last for 10 years/1.2M miles, engine, transmission, differential,after-treatment? I have put this question to a dozen mechanics and career drivers, never to get a confident and believable answer.

[@millan8837]

I just want to comment respectfully that the highlight of each and every video you make is the “upper cut punch” while saying “Let’s Go “ keep the good work coming

[@TacticalTrucker]

_There are a lot of truck drivers who are doing Uber and making as much money as a company driver with 90% less stress_

[@bigpat2436]

I’m a company driver on the food service and I make 145k

[@georgiiarakelov6560]

@@bigpat2436yeah and then you woke up. You need to make over a $ per mile, never have days off and then you might get those money…

[@younglove3362]

As a trucker that used to do Uber, I can tell you that's bs.

[@TacticalTrucker]

@@younglove3362 Uber in NY

[@nevinkuser9892]

​@@younglove3362haha thought so

[@JohnIverson]

Well said. I appreciate your prospective. Thank you for always keeping it real. ✌️💙🎶

[@joewatts9132]

I liked both quotes from your parents, awesome. I find it fun to scroll through the news in a quick manner, in an interested manner as well not like getting angry about everything that comes in front of my face. But sometimes I do wonder if I could be doing something more productive, so I just do it for a bit.

[@mikeskidmore6754]

There are Billions of dollars in Trucking and Billions in costs too. I read somewhere that Big Investors got into Trucking, Like Vanguard and Black Rock. Now that Proffit Margins are so thin they are getting out. Things should get better when outside money gets out of trucking.

[@CantrellMosley1]

Always awesome. Thank you for the news, updates, and words of knowledge.

[@johnnyleon9218]

Thanks for your insights! Preciate ya!

[@lanceharper340]

This is a gem of a video! Your research and perspective is much appreciated. Thank You!

[@Axel-mg6mb]

I enjoy your video and appreciate the information, best regards

[@RomanVarl]

The cold-headed mathematician will always persevere )) Thank you for the update Miranda!

[@Keekay91]

thanks TM Success. I appreciate the honest review with what data you have.

[@rusmirdevlic2164]

good job you explained everything on point

[@alexshortsplus]

Thank you Miranda ❤

[@clemsmith8799]

Help me understand........ If you you can only operate at a loss, lets say -.025 cents per mile ....... then .... why would you not just stop everything.? If every mile the truck moves you lose money then it only makes sense to never drive the Truck, let the creditors have it back, they took the risk right............. Why would anyone continue to drive themselves into mass debt????????????????

[@JustinTupper-jj5in]

This was a great, high-level analysis. Thank you!

[@MrCaMagic]

Amazing brains and beauty. Thanks for the informative video

[@NicholasEstrada-tp8cj]

Great information Miranda,

[@Hitty_456CTDriver]

Thanks you Ms. Info!!!

[@daniel_anthony_k]

Miranda is the best, honestly.

[@JoseMartinez-no2vb]

Great information

[@mohammadbaranishooli218]

Thank you for sharing the reality

[@bouquetchocolatesandconfec77]

I am OTR company driver I love your insights.

[@Anthony-gi7jv]

Each new bankrupt transportation business means that the capacity diminishes and will result in eventual rate rises ( as mean as it sounds.)

[@danf6975]

Good video The net loss of carriers is also slowed down by the fact that those going out of business are selling their equipment so cheap that MC's are picking up that equipment regardless of how bad the economy is so it's slowing down the net loss of carriers

[@artemfrolov1]

Thnx ❤

[@heydennisha]

Reality is brutal. I rather you keep it real than sugar coat every facts. Gj. I like all your data and lay out straight fact, no bs no sugar bomb.

[@lloydwhisman1137]

I like watching your videos. I find them very informative. When you mentioned manifestation and the power of positive thinking, a smile came across my face. You see, I currently manage 35 drivers and I manage maintenance on roughly 50 trucks and 90 trailers. I can tell you manifesting does play a huge role. In fact, it's close to being the number one tactic successful account managers use. I will go further to say that impeccable salesmanship is where it's at. Relationship building and the ability to convince others your services are better than anyone else. I sympathize with owner operators that are struggling Often times they have only one truck. If they are financed to the gills they will continue to struggle. At the height of the freight frenzy a lot of people got in and flooded the market with capacity. What we're going through right now is a market correction on the capacity side. The reason why that correction is slow speaks to the nature of everyday hard working individuals that are in this industry. They're not going down without a fight. Unfortunately, some will go down though.

[@dianabanana3817]

OMG! I'm over this

[@MS-oz2wu]

Power of postive thinking is like hope! "Hope floats".

[@FCP32]

Thanks.

[@wesley_scott]

There has never been enough money to be made, financing equipment and putting employees in said equipment and running only brokered freight. Not before Covid and certainly not now. So many guys like me out here , 1 truck authority, driving the paid off truck , with a break even Cost Per Mile of less than a dollar, keeping what’s left over for my pay. If you came in the industry in the last few years, it’s going to be tough compete with me or someone like me. It’s actually not that bad out here. Plenty of money to be made.

[@JW-lw8pc]

My stepdad $1.50 per mile in 1985. Have some respect for yourself.

[@wesley_scott]

@@JW-lw8pc are you referring to CPM? Gross loaded or all miles? Or just NET? Just throwing an anecdote $ out there from a 40 years ago from a family member that I would be surprised that you saw his P/L in real time. I like to know the Gross number and Net number of that year you speak of, with how many miles he drove.

[@sabartransportation4456]

Funny how rates were through the roof and people bought trucks for $250k so basically the banks made most of the money during that period over truckers. Stop dealing with interest for real long term wealth.

[@BigCatTrucker]

I don’t think trucking is bad at all… it’s where it’s supposed to be after what we have been through in the last 3 years Trucking is slowly working itself out. We’ve been through it before just not this long.

[@lifeontheroad_]

Trucking is bad. The freight market is low due to a bad economy. The average Americans purchasing power is extremely low and most cannot afford to buy new products. And it is getting worse out there. We are still on the down hill slope.

[@davidowen9671]

​@@lifeontheroad_ Define bad, please. $14K/month after expenses, down from $23K a year ago, as Miranda recently discussed in detail?

[@bradburrell4008]

Well said young lady

[@bensanders7392]

I like that quote at the end from your father.

[@JoeisHungry]

did not know you followed this guy trucks.. small channel but addicting much like your channel

[@TruckingMadeSuccessful]

Josh is awesome!

[@JoeisHungry]

@@TruckingMadeSuccessful yeah I am going to have to shout him in one of my videos and try to help his channel, I love to follow the trucking industry even know I am no trucker, thanks again for your channel, I understand quiet well what goes into making frequent videos

[@noconaroberts4318]

For anyone looking to get into trucking in 2024, I have 2 years experience. Absolutely flawless record on all points. Run 2200-3000 miles a week. By quitting trucking and working at my local gas station I’m getting a raise.

[@916ChaosLord]

No one can predict everything, but with the right knowledge you can be reactive quicker than the rest of the hard. Hopefully not taking the bad times as hard as others can lead to sustainability. Thanks for the videos.

[@younglove3362]

Predictions can be made when the future is predictable. Use the scientific method and observe and you'd honestly be shocked 😲 by what you come up with.

[@bensanders7392]

I did my authority about 2 1/2 , 3 months ago hoping that maybe in 6 to 9 months by the time I "age my authority" that I will be positioned in the right place at the right time. Quote "luck....is where opportunity meets up with preparation".

[@relaxationstation7374]

I've been an OTR trucker for more than 37 years and an owner operator for nearly half of that and I can tell you for a fact from firsthand experience that, trucking has been in bad shape for more than 20 years solely because all U.S. law enforcement agencies claim that Corporate Crime is outside of their jurisdiction! The price of everything has only ever gone up, so have shipping rates... However, since trucking is absolutely not regulated and laws are absolutely not enforced at the Corporate level, trucking associations have evolved into organized crime organizations that illegally refuse to provide owner operators with Rated Freight Bills, regularly breach contracts by paying owner operators off of false numbers that are 30% to 50% below their contractually agreed upon rates, double and triple broker freight, evade taxes, broker U.S. freight from 3rd World countries at garbage rates like 65% of $0.48 per mile freight, like they do at LandStar! That's the real problem!

[@user-wy6cl3os2v]

The number just don’t add up to allow for a profitable business

[@whiteliontransportation5516]

Your dad was a smart man with that saying!!! My father tells me the same thing

[@andrewalves3370]

36 years old. 2015 hino rollback. Paid off truck still sold it. To many regulations. Started home improvement business. 9 months later made same as 1 year. Profit. Not gross. When saudi say turn the pumps down to stable fuel prices. I knew sell not before no one wants it.

[@younglove3362]

More like when Biden cut off what Trump started in using our own natural resources instead of buying from out of the country.

[@oldFISHman]

Спасибо, Миранда

[@derekhealy1950]

KZbin trucker. Everyone got online saying how You can make 15k a week.

[@truckwitmi3956]

I'm a new sub to your channel. My question is. If I get my own authority in Florida for intrastate authority, can I pick up and deliver loads in GA/AL occasionally, with a temporary permit in each of those states, respectively?

[@davincicodedanbrown]

Excellent video. Can you please make a video on how much should you pay if you’re buying into either Amazon or FedEx linehaul as a contractor?

[@user-uq6ql6yj5c]

I know that a lot of people are not going to like this but a lot of companies and people got into trouble over not planning for bad times

[@topnotchtx]

I don’t know how much longer I can take of this and nobody has any answer to when it will get better.

[@bretyoung1869]

Some of us knew it wouldn't last forever and the folks getting in at the high would not last. Too much hipe and folks went crazy spending. Sad to watch folks crash and burn. Been an O/O 46 years, seen almost everything !! Thanks Miranda and my best to all !!🇺🇸

[@dennisbibik3061]

May was my best month this year

[@wetwilly8425]

The curse of KZbin. Y’all making money off views, but also bringing unwanted people into the industry

[@TruckingMadeSuccessful]

I guess you didn't watch this video. All good

[@GoaltoGo]

Yeah Miranda has had the viewpoint that there's too many people in the industry so therefore she's not promoting anyone

[@wetwilly8425]

@@TruckingMadeSuccessful I did. Comment was based on over capacity. Before content creation trucking was a last resort thing. Nobody knew truckers was making good money unless you grew up around truckers. Now, trucking is a first resort thing due to content creation.

[@hoytballard5504]

She has never promoted anyone getting into trucking. She just explains what she is doing and showing what information she can glean from her subscription service from freight waves. Probably 99.9999% of truckers, owner operators, and small carriers would never invest in subscribing to anything to gain better knowledge of what’s going on.

[@hoytballard5504]

Too many people trying to use “hope” as a business plan.

[@garyandcandy]

I belive there are other factors influencing capacity. 1. Automatic trucks removed a barrier to entry. People who wouldn't have considered learning to drive a large truck don't mind as much now that there Automatic. 2. Local job markets are trash. Getting paid poorly on the road is still better then what is available at home. Great videos, I really appreciate the data you present.

[@user-dr1yk3xe9h]

This one is much better than the last video I watched because I was wondering how is going to help me But this one have more clarity because that’s exactly what I was thinking and I don’t have the information you have but it all makes sense so thank you and thank you again

[@johnnydouglas6385]

Thanks Miranda. Recently got my CDL 2 weeks ago. Currently training with a Mega Carrier. I should have my own truck in about 2 to 3 weeks. I think people aren’t leaving the industry because it is a very good career with a level of freedom that very few other careers can offer. I’m not sure where this will lead for myself, but I know I am looking forward to the adventure around our MAGA country delivering the goods that we want and need and make and sell to people and places all over the world and I’m planning on stopping and taking in the scenery and fishing as much as I can while doing it.

[@antonioro1]

Is going to lead you to bankruptcy…..

[@DzekoTV401]

I was OO for few years and money went to fixing my Pete!Sold it after2 years as I had no payments but it was a tie at end of the month!Started on with company truck and I m spending less and was able to buy Audi RS3 and sweet condo rather than another truck!U gotta have deep pockets for repairs and now fuel!!!

[@JW-lw8pc]

Freight lanes are paying the same rate as 15 years ago!

[@carloselizondo7671]

Stay healthy and your truck in good shape. Be ready for a great come back!!!

[@younglove3362]

Keep hoping. Hope definitely solves problems. 🙄

[@tsocity213]

HEY THANK UUU!!!! Leeetttssss gooooooo!!!! Capacity will leave in quicker rate soon.dealers repair issues before selling trucks.and its about time those 500k miles trucks bought for 130k. Start blowing 50 thousand dollars worth of engine.

[@kelly9556]

Miranda you are our ray of hope, until we found you it was hard to understand what was going on but you make it easier...the fact that our truck is paid off and we are meticulous about what it cost us per mile to run each week is the only way we are still hanging on!!

[@RJHENSON]

We bought our truck in the recession of 07-08!! This prepared us for now

[@kr9181]

Its very very easy to get your Cdl! Too many cheap drivers. Not paying rent or mortgage. No families. Just live in truck.

[@Veysroo]

Our company reduced its prices from 63 cents to 55 cents. That's ridiculous.

[@sheepdoglogic]

Correction! They spent money on things with money they got from the Tax Payer's! The Government has no money except ours! Great video!

[@moz763]

I see lots of people from other countries and have talked to them and when I tell them I'm home every day and the money I'm making,they are surprised,they don't know that they are getting taking advantage of and are running so much for very little pay,companies are taking advantage of them hard.

[@scottb1151]

You're so beautiful it's hard to concentrate on what you're saying. Thanks for all your hard work.

[@user-wy6cl3os2v]

Miranda can you share the numbers from company that employees drivers so we can see how the numbers are for a fleet owner with drivers

[@JBLawson-ih8vw]

I owned a 2000 international pro-star back from 04 to 08,bought it with 300k miles for 28k in 04. By 2008 I was only making after taxes,fuel ect about 1500 week and I owned my trailer too,53 reefer paid off completely. If I wanted to even think about hiring a driver that would of been half the profits think about that today,and how many companies are about to take a big loss because what driver is going to work for even under a grand a week in today's world of inflation

[@scorpionking1062]

🤣🤣🤣 The Secret!!!! The Power of Positive Thinking!!! Manifestation!!! Reality and Facts all day!👍🏾

[@TruckingMadeSuccessful]

😂

[@DudeDude491]

Miranda❤️

[@rayhoffman4697]

2 and 2.

[@ymanoilov]

A lot of people are not shutting down yet, because they are not paying for the trucks and the fuel and will be booking load until the banks are able to reposes their equipment.

[@supermarioxs1]

I am very fortunate that I was able to purchase my Equipment in cash and have no over head! On top of the fact that I am leased onto a carrier that dispatches me with local and Regional work that I am home at least 3 out of the 7 nights during the week!!!

[@TacticalTrucker]

_What’s horrible for a lot of truck drivers out there when it comes to purchasing a used truck is they don’t understand the mechanics behind it And after one year of operating a used truck, your engine bust and you don’t have the funds for the repair or to purchase another used truck eventually owner operators end up into financing a truck anyway; some drivers can’t escape the curse of financing lol_

[@veces]

usualy in bad market banks would confiscate the trucks for debt. now they do not take the trucks because they will depreciate the truck sale market. bank accept small payment from the debtor just to keep him alive. and the debtor agree to take loads for 1,60$ just to maintain the money flow to the bank

[@Prodigal1]

Why are things so bad in America right now? Not just trucking. That’s the question!They’re related!

[@jon__doe]

Do you really want to know? If knowledge is power, and with power comes responsibility.... What will you do?

[@Prodigal1]

@@jon__doe I already know. The answer is self evident. Do you?

[@shawnblaylock5956]

We just need 4 more years of Democrat control! Sleepy Joe has a plan! Vote for the blue freakin’ idiots!

[@jon__doe]

@@Prodigal1 Yes. The quandary is what to do with that.

[@Prodigal1]

@@jon__doe Well, I am 62 and after 34 yrs OTR, 20 as an O/O I sold my truck last November. I’m playing steering wheel holder for 2-3 yrs to replenish my retirement funds then I wave goodbye to this deteriorating profession. For those younger that want to stay in it I suggest you don’t vote for leftist politicians that war against fossil fuels driving up fuel prices, who allow the border to be wide open and who bring in Euros and other foreign born drivers to fill the mythical shortage. Raise the requirements for entry as both drivers and carriers. Vote for leaders who cut back on government spending which has led to inflation and thereby forcing the Federal Reserve to raise interest rates to keep inflation from spiraling out of control thus making borrowing money too expensive . Or if you’re young enough get out of this profession and get a normal job where you are home every night with Overtime after 40 hours , weekends off, etc.

[@blackspiderman1887]

There is still money to be made in trucking. Just not as much money as before. If you were taking home $1800 a week then now you're probably taking home $1500. Instead of crying about it, you yoi need to adjust your lifestyle to the times. Either you adjust or be forced to adjust.

[@tevinlong4888]

I'll stick with the video topic: If I had to guess I'd say capacity will go down faster than volume increasing But capacity can't go down if more than half the drivers are from other countries here on a work visa being paid peanuts and loving it like its MCDONALD'S Baraa pa pa pav

[@Cynthiape2uc]

Question please: do you believe this is still an American industry? Do you believe that the majority of the drivers behind the wheel are American?

[@primalsmash5801]

Look lying to yourself is a terrible idea. But morale is very important, especially in our industry. It's almost imperative to keep or atleast try to keep morale up even when we are getting shit on.

[@earlharris6058]

Positive vibe don’t pay the bills

[@TruckingMadeSuccessful]

100%

[@DB7GamingSimulator]

It's been a while. I've put my trucking project on the ice.. Let's hope everyone here keeps a positive vibe ✨️ Stay safe

[@jk6854]

Private Equity owns it all. You work for them

[@lwrefrigeratedexpress5698]

Because there are too many trucks on the road. They have ley foreigners take it over

[@antondewayne6534]

Trucking is bad only because of the tracking apps they’re able to identify the locations of every truck and because they know your location they’re able to decide how much they’re going to pay you based on the number of trucks in the area. Everyone should stop using tracking apps and have the brokers to continue to call you to figure out your location, this will bring the rates back to the hands of the truck

[@AirJockey100]

It must be the guys hauling off the load boards. I’ve heard those rates are down. I haul specifically for costumers. It not bad and we have plenty of work.

[@jeffreyes1568]

Great video. Very informative. "Positive vibes"? "Manifesting" .. really?? "Manifest" in one hand and crap in the other and see which one fills up faster ... lol

[@andrenero8308]

Those that got in the market for the money are realizing that being a trucker is a lifestyle not a job. Those that thought it was easy and it could just be automated didn't know that they would have change the entire infrastructure which is very expensive and too complicated to fathom. Yeah you get truck to go down the road but that's it. A driver can easily interact with two to three people at every shipper and receiver that don't even want to touch the truck. So you either have to figure out how to get rid of all of those people for automation (infrastructure) or hire thousands before you even think about getting rid of the driver. The automation actors will be gone soon. Insurance will possibly quadruple, who is responsible? If one truck with a fleet of one thousand automated trucks kills someone, you can't just tell the insurance agency it was the drivers fault. All of your trucks have the same driver and you are stuck with it.

[@LogisticsWorldz]

I'm worried that those drivers who are shutting down their authorities will just join the mega carriers as company drivers and mega carriers are one of the industries issues ....

[@chipmckeefery6779]

While your statement is justified, many "mega" carrier's are not looking to add. They are to the degree of replacing those that left, for numerous reasons. Today's news about Forward Air may have many of their contractors looking to bolt but to where? We've all heard about Prime's decision to cut some lanes and subsequently the possibility of laying off company drivers. FedEx is talking about restructuring and closing a few terminals. CEVA did some lane restructuring last year, letting go of contractors. Word through the grapevine, nothing I can find to confirm on this rumor, is that Amazon is looking to lower its rates paid to contractors who haul their freight. T-Force is in a little financial pinch and rumor has it that they may close down the LTL freight side. Last I knew, that was still union and heard that the contract is up in about a year or so. If I'm not mistaken, T-Force also owns CFI and what once was Transport America, so there may be some slimming down in those divisions also. My worry is, it's going to be late 2025, to early 2026 before we see any type of recovery. I just hope as a country, we make it before a total collapse.

[@TEACHA101]

I can almost pinpoint where and how truckers woes, started. CANADIAN TRUCKERS DEMONSTRATION. Back February 2022. From that point onwards rates dropped. It was almost vendetta against truckers especially owner operators.

[@platinumjohnson4380]

Q222 was already planned. It was a way to put the US economy back in debt (take the free money back). If everyone has good credit and a cash cushion in the bank, then banks and alternative lenders are not making money. The failure of the US truckers to follow suit with the Canadian and Mexican truckers is what caused the current economic status for the trucking industry.