Maritime Industry Briefing: Regulatory Changes, Economic Outlook

## FMCSA Administrator Defends Bold Moves at TCA Conference At the Truckload Carriers Association (TCA) annual meeting, Derek Barrs, the new administrator of the Federal Motor Carrier Safety Administration (FMCSA), received a standing ovation after his address. Barrs fiercely defended the FMCSA's recent regulatory actions, which have included proposals to overhaul hours-of-service rules and implement new safety technologies. 'According to FreightWaves, Barrs told the TCA audience that the FMCSA is committed to 'bold moves' to improve safety on U.S. roads. He argued that the agency's actions, while controversial, are necessary to address rising accident rates and protect the public. Barrs emphasized that the FMCSA will continue to pursue data-driven policies, even if they face resistance from some industry stakeholders. ## Unpredictability the 'New Normal' for Maritime Businesses At the recent TPM26 conference, S&P Global Ratings' chief global economist warned that the uncertainties created by the Trump administration's policies have become the 'operating model' that companies must adapt to. 'As reported by the Journal of Commerce, the economist told attendees that factors like trade disputes, geopolitical tensions, and policy shifts make it increasingly difficult to forecast economic conditions. This unpredictability is the 'new normal' that maritime businesses must navigate, requiring more agile planning and risk management strategies. Despite the challenges, the economist expressed cautious optimism about the global economy, noting that recession risks remain low in the near term. However, he cautioned that companies should prepare for increased volatility in the months and years ahead.