Transport Stocks Jump on Tariff Thaw

Shares of shipping lines, railroads and trucking firms bounced in early-market trading Monday, as the U.S. said it agreed with China not to decouple their supply chains.

Danish shipping giant A.P. Møller - Mærsk saw its stock jump 10%, while shares of Israel-based ZIM Integrated Shipping Services rose 14%. Exports from China to the U.S. had plunged 41% after President Donald Trump raised tariffs to 145% on those imports. Monday, U.S. Treasury Secretary Scott Bessent said those tariffs would drop to 30% for the next 90 days while negotiations continue. China eased its tariffs on U.S. imports from 125% to 10%.

Railroad stocks had also dropped after the April 2 tariffs, as investors feared they would lose substantial volumes of intermodal container traffic that they carry from ports to America's large retailers. So Monday's news was lifting Union Pacific, Norfolk Southern, and CSX. Long-haul trucking companies also carry intermodal containers and truckloads of imports, so the relief rally lifted Werner Enterprises and Schneider National.