Canada Trucking Firm TFI Hit by Tariff War, Walks Away From Deal

TFI International Inc., one of North America’s largest trucking companies, says US President Donald Trump’s trade war is exacerbating the freight industry’s difficult outlook, and that it was forced to abandon a deal because of it.

“Our industrial end market is exposed to tariff-related uncertainty, which was evident during the first quarter before the April 2 announcement” of new US tariffs on dozens of countries, Chief Executive Officer Alain Bedard said in a conference call with analysts Thursday.

“Our industrial-based customers are just waiting,” he said, using the example of US farmers that are unable to sell to ...