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Freight rates might look like they’re holding steady — but when you adjust for inflation, the real story tells a very different tale. In this week’s Supply Chain Secrets, Caroline Weaver and Lars Jensen break down why inflation-adjusted freight rates on major trade lanes have quietly slipped below pre-pandemic levels, even as indices like the SCFI show nominal increases. They also discuss how politically charged tariffs are blurring the line between trade policy and politics, and why a single Caribbean port closure could trigger ripple effects across the Americas. 🎙️ In This Episode: -Why inflation makes “stable” rates a hidden discount for shippers -SCFI vs. NYFI: What’s really happening in loaded cargo rates -The growing role of politics in U.S. trade policy -Regional risks: how weather and regulation shape reliability -What shippers should watch in the months ahead