Canada Freight Rates

Truckload Rates in Canada – November 2025

Canadian truckload rates softened further through October and into early November as the brief lift from pre-tariff shipping fully faded and domestic freight weakness became more visible. Capacity remains structurally tighter than in the U.S. due to prior fleet contraction, but broad economic softness, declining imports, and slower cross-border flows continue to weigh on rate trends. ACT Research’s November Freight Forecast highlights continued caution across both domestic and transborder markets.

Spot Market Rates

Intra-Canada Dry Van:

Intra-Canada dry van spot rates edged down slightly in early November after remaining stable through October. Freight demand remains weak as retail restocking slows and consumer spending stays restrained. LoadLink’s Freight Index posted another sequential decline, indicating ongoing softness in regional freight movement.

Capacity remains comparatively tighter than in the U.S., preventing sharper rate declines, but the overall balance still favors shippers given muted demand and weak industrial activity.

U.S. to Canada:

Northbound rates softened modestly in October and early November, reflecting slower U.S. freight activity, weaker import demand, and a drop in cross-border consumer-goods and manufactured-input flows. Tariff uncertainty and declining retail goods volumes continue to suppress northbound freight.

ACT’s November outlook expects northbound pricing to remain flat to slightly weaker into Q4 as volumes stay subdued.

Canada to U.S.:

Southbound rates were stable to slightly softer through October, following temporary firmness earlier in the fall tied to pre-tariff export activity and tightening in reefer availability. Dry van and reefer spot rates slipped back toward late-summer levels as cross-border volumes cooled and the load-to-truck ratio normalized.

Tariff-driven cost pressures and weaker U.S. manufacturing demand continue to weigh on Canadian export freight, limiting support for southbound pricing.

Outlook

Canadian truckload markets remain fragile entering the final months of 2025. With domestic demand subdued and cross-border volumes weakening, rate pressure is expected to continue despite structurally tighter capacity. Tariff-related input cost inflation and broad economic softening across retail and manufacturing further restrict the potential for recovery.

Looking into 2026, the outlook hinges largely on a rebound in U.S. freight demand and resolution of ongoing trade and tariff policy uncertainty. Until then, Canadian carriers are expected to remain focused on margin preservation, disciplined cost management, and selective deployment of capacity—operating defensively in a market shaped more by caution than growth.

To see how Canadian rates change in the future, and for detailed analysis and forecasts or truckload, less-than-truckload, and intermodal, see ACT's freight & transportation forecast.