Oppenheimer
Tariffs, Trade Wars & Freight Chaos: What Comes Next?
June 09, 2025
A Podcast Conversation featuring Jane Ross and Fred Larsen, Managing Director, Transportation & Logistics Investment Banking at Oppenheimer
Tariff spikes. Legal battles. Freight chaos.
In this episode of Let’s Talk Future™, host Jane Ross is joined by Fred Larsen, Managing Director, Transportation & Logistics Investment Banking at Oppenheimer, for a timely and critical conversation on the current state of U.S. tariff policy and its global consequences.
They unpack the sudden shifts in reciprocal tariffs, complex legal rulings, and the ripple effects reverberating through freight markets, supply chains, and pricing systems. With comparisons to COVID-era disruptions, Fred outlines how companies are reacting, why volatility is spiking in trucking and shipping, and what metrics investors should track over the coming months.
From Section 232 tariffs on steel and semiconductors to the end of de minimis exemptions for small goods, this episode offers clear takeaways for business leaders, investors, and policy watchers navigating uncertain trade dynamics.
Subscribe to listen to the full episode which is available on Spotify or Apple Podcast.
Join the Conversation
Tell us what you want to hear. Oppenheimer's Let's Talk Future podcast series invites engaging conversations surrounding the markets, innovations, and life in general. Leave a review on our Apple Podcast Platform or let us know what interests you by writing to Oppenheimer's Marketing Department at [email protected].
Up Next
Disclosure
This podcast is the property of Oppenheimer & Co. Inc. and should not be copied, distributed, published or reproduced, in whole or in part. The information/commentary contained in this recording was obtained from market conditions and professional sources, and is educational in nature. The information presented has been derived from sources believed to be reliable but is not guaranteed as to accuracy and does not purport to be a complete analysis of any strategy, plan, security, company, or industry involved. Opinions expressed herein are subject to change without notice. Oppenheimer has no obligation to provide any updates or changes. Any examples used in this material are generic, hypothetical and for illustration purposes only. All price references and market forecasts are as of the date of recording. This podcast is not a product of Oppenheimer Research, nor does it provide any financial, economic, legal, accounting, or tax advice or recommendations. Any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed.
Securities and other financial instruments that may be discussed in this report or recommended or sold are not insured by the Federal Deposit Insurance Corporation and are not deposits or obligations of any insured depository institution. Investments involve numerous risks including market risk, counterparty default risk and liquidity risk. Securities and other financial investments at times maybe difficult to value or sell. The value of financial instruments may fluctuate, and investors may lose their entire principal investment. Prior to making any investment or financial decisions, an investor should seek advice from their personal financial, legal, tax and other professional advisors that take into account all of the
particular facts and circumstances of an investor's own situation. The views and strategies described may not be suitable for all investors. This report does not take into account the investment objectives, financial situation or specific needs of any particular client of Oppenheimer or its affiliates.
This podcast may contain forward looking statements or projections regarding future events. Forward looking statements and projections are based on the opinions and estimates of Oppenheimer as of the date of this podcast, and are subject to a variety of risks and uncertainties as well as other factors, including economic, political, and public health factors, that could cause actual events or results to differ materially from those anticipated in the forward-looking statements and projections.
The performance of a benchmark index is not indicative of the performance of any particular
investment; however, they are considered representative of their respective market segments. Please note that indexes are unmanaged and their returns do not take into account any of the costs associated with buying and selling individual securities. Individuals cannot invest directly in an index. This content is intended for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any security. No part of this podcast should be interpreted as a testimonial regarding the advisory services of Oppenheimer & Co. Inc. Any references to performance, investment opportunities, or market outlooks are based on current opinions, which are subject to change without notice. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal.
Oppenheimer Transacts Business on all Principal Exchanges and Member SIPC 8043368.1