The Port of Keelung in Taiwan. (Billy H.C. Kwok/Bloomberg News) Treasury Secretary Scott Bessent said the Trump administration’s agenda for trade agreements could get wrapped up by the Labor Day holiday, indicating some negotiations are likely to extend past the upcoming July deadline for elevated reciprocal tariffs. “We have countries approaching us with very good ...more
(Julie Jacobson/Associated Press) WASHINGTON — A key inflation gauge moved higher in May in the latest sign that prices remain stubbornly elevated while Americans cut back on their spending. Prices rose 2.3% in May compared with a year ago, up from just 2.1% in April, the Commerce Department said June 27. Excluding the volatile food ...more
(cbarnesphotography/Getty Images) BANGKOK — Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production, U.S. Treasury Secretary Scott Bessent said June 27. The agreement comes after China retaliated against steep import tariffs imposed by the Trump ...more
(cbarnesphotography/Getty Images) BANGKOK — The U.S. and China have signed an agreement on trade, President Donald Trump said, adding he expects to soon have a deal with India. Commerce Secretary Howard Lutnick told Bloomberg TV that the deal was signed earlier this week. Neither Lutnick nor Trump provided any details about the agreement. “We just ...more
Musk is counting on eventually churning out large numbers of robotaxis and Optimus humanoid robots to underpin the EV company’s next chapter. (Tim Goessman/Bloomberg) Tesla Inc. CEO Elon Musk said a Tesla Model Y SUV drove itself from the company’s factory near Austin to a customer’s home in the company’s latest move to showcase its ...more
C.H. Robinson has seen automation jump from 50% to more than 75% of LTL orders since deploying the tool. (C.H. Robinson) C.H. Robinson has rolled out a generative AI agent to automate freight classification as the National Motor Freight Classification system prepares for major changes effective July 19. The update to the NMFC will alter ...more
The Canadian dollar dropped more than 0.5% almost immediately. (Anna Moneymaker/Getty Images) President Donald Trump said he was ending all trade discussions with Canada after claiming the country moved to implement a digital services tax, and threatened to impose a fresh tariff rate within the next week. “Based on this egregious Tax, we are hereby ...more
ATA’s Chris Spear outlines trucking priorities with Samsara’s Meagen Eisenberg during a June 24 session at the technology developer’s annual conference. (Seth Clevenger/Transport Topics) SAN DIEGO — Recent policy wins on commercial vehicle emissions have allowed trucking industry leaders to shift their attention to other pressing issues, such as expanding truck parking, mitigating cargo theft ...more
"Thanks to President Trump, we’re getting Washington out of your trucks and your business," Duffy said. (Rod Lamkey Jr./Associated Press) Transportation Secretary Sean Duffy on June 27 announced a $275 million grant program to expand truck parking and prune regulations, billing the moves as the first wave of President Donald Trump’s trucking-reform order. “Truckers keep ...more
Daimler Truck North America, maker of the Freightliner eCascadia and other electric models, is pushing forward with its product development plans. “All previously communicated plans remain unchanged," a company spokesperson said. (DTNA) The ongoing rollback of commercial vehicle emission regulations under the second Trump administration has created uncertainty in the emerging battery-electric truck market. Manufacturers ...more
