A three speed powershift gear transmission includes a torque converter mounted on the input shaft and driven by a fluid actuated modulating clutch to provide fine speed control in two output speed ranges, direct drive in a higher speed range and a reversing drive provided by a duplex planetary gear set. A single countershaft mounts the driven gears of the three speed ranges. The first or lowest speed driven gear is mounted on an overrunning clutch and the second driven gear is connectable to the countershaft by a fluid actuated clutch. The direct drive or third gear is fixed to the countershaft and is drivingly engaged to the input shaft through a fluid actuated clutch. The duplex planetary gear includes a friction clutch responsive to axial gear reaction forces to lock the ring gear to the planet gear carrier in forward drive and a fluid actuated brake for arresting rotation of the ring gear to provide reverse rotation of the planet gear carrier and the transmission output shaft.