TFI International (NYSE: TFII) says trade uncertainty tied to President Donald Trump’s new tariffs is hurting the freight industry and has already derailed a potential acquisition.
CEO Alain Bedard cited weak demand from industrial clients—particularly U.S. farmers impacted by disrupted exports to China—as a key factor.
Bedard said cross-border freight imbalances and high steel tariffs are also pressuring performance, Bloomberg is reporting. Amid broader M&A challenges, TFI walked away from a large transaction and pledged to fix or shed underperforming units.