A trucker fuels up at the Love's Truck Stop in Springville, Utah, on Dec. 1, 2021. - High fuel prices and a shortage of truckers have had a negative effect on the U.S. supply chain. George Frey/AFP via Getty Images
During the COVID-19 pandemic, freight prices skyrocketed, as did consumer demand, attracting thousands of new companies into the trucking industry. Now, a general economic downturn is dampening consumer demand while the cost of operations is higher. This is forcing carriers out of business.
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
