Afternoon Coffee: Trucker Shortage Prompts Widening of Recruiting Demographics, Consumers See Effects of Steel and Aluminum Tariffs

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Truckers historically have been older, white and male, but a dearth of qualified drivers is motivating logistics companies to broaden their search, The New York Times reports. Women and minorities currently make up only a fraction of the overall trucking population, but operators are now making an effort to change the face of trucking’s next generation.

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Tariffs Hit Home

Manufacturers from Coca-Cola to Polaris Industries are planning to raise prices for vehicles, soda, beer and other products affected by recent tariffs on metals and parts, and consumer price metrics are responding in kind, The Wall Street Journal reports. Consumer prices rose 2.9% in June from a year earlier, the highest rate in more than six years, while producer prices climbed 3.4% in the past month, their highest level in years, as energy and shipping costs increased along with metal prices.

Aviation Acquisitions

Two American manufacturers of composite materials for the aviation industry have been acquired by Kordsa, a Turkish reinforcement technologies company, Hurriyet Daily News reports. The $100 million investment positions Kordsa more firmly in the growing aviation supply chain.

Consumer Sentiment 

And finally, an economic update: The University of Michigan’s measurement of consumer sentiment fell to 97.9 in July from 98.2 in June, according to CNBC, as fears over the effects of retaliatory tariffs mounted. The survey's results, however, still surpassed expectations of 97.1 by economists polled by Reuters.

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