An October bump in orders for freight trailers proved short-lived rather than the start of a sustained recovery, as November numbers for U.S. trailer net orders dropped 19% month-over-month (m/m) to 13,071 units and an even bigger 45% drop year-over-year (y/y), according to transportation sector analyst firm FTR.Those order volumes remain well below historical norms, pressured by tariff-driven trailer cost increases, soft freight demand, tight margins, and limited confidence in near-term rate recovery. The sharp y/y drop suggests fleets are deferring discretionary replacements deeper into 2026 and possibly 2027, FTR said.“The U.S. trailer market is increasingly constrained by trade policy, elevated input costs, and cautious fleet behavior. Policy-related actions are now a central driver of both cost inflation and demand uncertainty. Limited visibility on trade outcomes continues to complicate pricing, sourcing, and capital allocation decisions across the industry,” Dan Moyer, FTR’s senior analyst, commercial vehicles, said in a release.“Section 232 tariffs remain the industry’s most significant and durable cost headwind, and trade risk is also building around van trailers. A U.S. International Trade Commission antidumping and countervailing-duty investigation into van trailers and subassemblies imported from Canada, China, and Mexico adds further uncertainty for cross-border supply chains and pricing dynamics in the high-volume van segment,” Moyer said.“Overall, tariffs and expanding trade actions are locking in higher costs and sustained uncertainty across the U.S. trailer market,” he said. “OEMs and suppliers likely will respond by prioritizing localized sourcing, tariff-aware design, and flexible pricing. Dealers must manage inventory carefully and set clear expectations…
