TGIF. Nikola founder Trevor Milton claims he’s been pardoned by Trump, but there's no official confirmation. Many are wondering if it's all just a PR stunt. Milton, the EV semi maker who was convicted of fraud, might just be making headlines again. We've got the details in today's feature.
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🐔 WHAT’S COOKIN’ IN FREIGHT
🚘 Trump’s 25% Auto Tariff. President Trump announced a 25% tariff on imported cars and auto parts, effective April 3rd, aiming to boost U.S. manufacturing and jobs. The tariff replaces the current 2.5% rate and applies to vehicles made outside the U.S., including American brands with foreign assembly. “If you build your car in the U.S., there is no tariff. That means a lot of companies will be in great shape because they’ve already built their plants,” Trump said. “I think our automobile businesses will flourish like they’ve never flourished.” Critics warn that car prices may rise by up to $12,500, impacting consumers and supply chains. While some USMCA-compliant parts may be exempt, details remain unclear. Trump also hinted at tax breaks for buyers of U.S.-made cars. The move has sparked international backlash, with Canada and Europe considering retaliation.
💸 Flexport Delays Profit Goal to 2025. Flexport, a digital freight forwarder, has pushed its profitability goal to 2025 after missing the mark for 2024. The reason? Weaker demand for e-commerce fulfillment and underutilized warehouse space – all 5.2 million square feet of it. CEO Ryan Petersen says they're seeing signs of a rebound, with warehouse utilization improving. Despite the struggles, Flexport still pulled in $2.1 billion in revenue last year, thanks mostly to ocean freight. An IPO might be on the table by late 2025, but for now, it’s off the radar.
📃 Texas Trucking Company Files for Bankruptcy. A family-owned lumber and trucking enterprise in Henderson, Texas, has filed for Chapter 11 bankruptcy. Business owner Billy J. Townley submitted filings for TLC Transportation, Townley Pallet Manufacturing, and W.D. Townley & Son Lumber Co. The companies, in operation since 1943, face over $7 million in combined claims. TLC Transportation, an interstate pallet hauler, employs six drivers. Key creditors include Regions Bank and the U.S. Small Business Administration, each owed $2.97 million. Despite assets ranging from $1 million to $10 million, mounting debts have forced restructuring efforts in the Northern District of Texas Bankruptcy Court.
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Trevor Milton, founder of the bankrupt electric semi-truck maker Nikola and convicted fraudster, claims he’s been granted a "full and unconditional pardon" by President Trump.
But there’s no official confirmation from the White House or Department of Justice — just a dramatic X (formerly Twitter) post, a press release from "Trevor Milton Media", and a trailer for a new documentary.
So, is this a real presidential pardon or just another hoax?
"Today I was issued a full and unconditional pardon by @realDonaldTrump himself. He called me personally to tell me."
He framed it as a win for all Americans "railroaded by the government" and called out the Southern District of New York — the same court that convicted both him and Trump.
Adding to the confusion, a community note was quickly attached to his post, questioning the claim. However, as of 8 A.M. CST, the note has been removed by X — leaving some to wonder if there’s any truth to the story.
The community note has since been removed.
Some Background
Nikola admits prototype was rolling downhill in promotional video. Image Source: Nikola
Just a few weeks ago, Nikola Corporation — once valued at $30 billion — filed for Chapter 11 bankruptcy after burning through cash.
The initial post drew a mix of reactions, but many of the 1000 comments (as of writing), are doubtful and bordering on scathing.
There were a few congratulatory messages, but the majority of them were comments like this:
Freight Implications: ZEVs, Policy, and Politics
Nikola’s collapse has fueled skepticism around EV startup promises, and with Trump back in office, federal support for green freight policies is already weakening.
Under Biden, the administration pushed for zero-emission freight corridors and invested heavily in sustainable transportation. But now, Trump’s policies are once again favoring fossil fuels, deregulation, and private-sector innovation — shifting the focus back to diesel, natural gas, and reduced federal oversight.
📊 Cass Linehaul Index Dips. The Cass Truckload Linehaul Index shows a recent dip in freight rates, but Dan Manshaem from Ally Logistics added a red trend line to roughly estimate long-term rate inflation, suggesting a potential recovery despite current challenges.
🤩 Sneak Peek. Kenworth unveiled the W900 Legacy Edition, a limited run of 1,000 units, at the Mid-America Trucking Show in Louisville, Kentucky, on March 27, celebrating the iconic model before its production ends in 2026. Past paint schemes and multiple configurations will be available as well.
💵 Dollar Tree News. Dollar Tree has sold Family Dollar to private equity firms Brigade Capital Management and Macellum Capital Management for $1 billion, ending a decade-long integration effort.
🎣 THE FREIGHT CAVIAR CORNER
The FreightCaviar Podcast: In this week’s episode of the FreightCaviar Podcast, we sat down with Jackie Jones, Chief Marketing Officer at Mesilla Valley Transportation, one of the largest private fleets in America. Catch the interview on YouTube, Spotify, and Apple Podcasts.
Freight Chronicles Podcast: Our Tom Stawinski-hosted podcast is now live, with the first episode featuring Brent Orsuga, an Elite leadership advisor who refuses to settle for "good enough." Catch the interview on YouTube or Spotify.
‼️ Now Hiring: Brokers, BLS Logistics is seeking a freight broker for a full-time position. Book of business preferred but not required. Learn more and apply here.
TIA Capital Ideas Conference: FreightCaviar will be in attendance at this year's conference, held April 9-12 in San Antonio. We hope to see you there at the biggest event for brokers. Register now.
I’m Adriana, a writer and editor at FreightCaviar. I’ve covered everything from freight tech to industry lawsuits and market shifts, helping scale us to almost 14K subscribers. My goal: to make logistics stories digestible, clear, and fun to read.
Hello! I'm Jerome FreightCaviar! I’m into the politics of freight and the impact it will have worldwide. I'm always eager to learn more. Follow me on X @JeromeFreightC
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