Apollo Global Management forecasts a severe U.S. recession triggered by recent tariffs, which will lead to widespread layoffs in the trucking and retail sectors amid rising economic uncertainty. The report, available on Apollo's website, paints a grim scenario: The trucking industry, critical to U.S. logistics, faces significant challenges as tariffs disrupt trade, particularly with China. A sharp decline in container ship voyages from China is expected to reduce freight volumes, thereby lowering demand for trucking services. Imports account for an estimated 20% of U.S. trucking volumes, so a decline in imports will have a significant impact on the industry.