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8/1/2025
Despite mounting uncertainty caused by tariff and trade policy shifts, North American intermodal volume increased in the second quarter, registering a gain for the seventh consecutive quarter.
Volume reached 4,579,798 units, up 2.4% compared with Q2 2024’s mark, according to the Intermodal Association of North America’s (IANA) latest quarterly market report. In Q2, domestic container volume increased 2.6% to 2,119,717 units, international container traffic rose 3.9% to 2,351,162 units, total domestic equipment volume inched up 0.8% to 2,228,636 units and the number of trailers declined 25.4% to 108,919.
“Retail trade sales rose to a record high, up 3.7% year over year, and the manufacturing subcomponent of the Federal Reserve’s industrial production index hit its highest quarterly average (100.8) since late 2018, suggesting that the industrial economy is gaining ground,” IANA officials wrote in the report. “The Advance Estimate released by the Commerce Department shows GDP growth of 3% for the three months from April to June.”
Eight of 10 regions registered intermodal volume growth, led by western Canada and eastern Canada at 9% and 8.7% respectively.
Imports drove North American intermodal loads in the first quarter and continued to do so in Q2. Although future volume likely will be reduced as a result, higher prices from tariffs have not yet impacted goods and consumer spending, so total import traffic for all of 2025 should still be solid, IANA officials said.
"Imports and solid consumer spending continued to buoy intermodal in the second quarter,” said IANA President and CEO Anne Reinke in a press release. "While domestic U.S. manufacturing is providing additional support, the longer-term impact of tariffs and trade policy on overall volume remains to be seen.”
The strong first half of the year has been backed by a rush to move as much freight as possible before tariffs take effect, which created opportunities for both domestic and international intermodal, IANA officials said.
For all of 2025, the association is forecasting intermodal volume will rise 2.1%.
“International container loadings are expected to increase 2.8% and domestic container traffic is predicted to notch a 3% gain, feeding off transloaded imports and incrementally better position vis-a-vis trucking,” IANA officials said.