(greenleaf123/Getty Images) A group of small businesses that won an order finding President Donald Trump’s sweeping global tariffs illegal urged a federal appeals court to uphold that decision and block the trade levies. The U.S. Court of International Trade ruled on May 28 that Trump exceeded his authority by imposing broad tariffs, a power granted ...more
Nvidia CEO Jensen Huang attends a roundtable discussion at the VivaTech fair dedicated to innovation and startups in Paris on June 11. (Sarah Meyssonnier/Pool via AP) NEW YORK — Chipmaker Nvidia became the first public company to top $4 trillion in value on July 9 after two-year investor frenzy. Nvidia shares rose 2.5%, or $3.97, ...more
Western Star vocational trucks on display at Daimler Truck North America's Cleveland, N.C., manufacturing plant. (Joe Howard/Transport Topics) CLEVELAND, N.C. — Daimler Truck North America is taking aim at expanding its presence in the heavy vocational market while recognizing the challenge its rivals are lodging to its dominance in the over-the-road segment. “The heavy vocational ...more
Tractor-trailers and other vehicles on a highway near Atlanta. ATA President Chris Spear said, "Motor carriers ... will now have the ability to plan for the future, continue to provide good-paying jobs and upgrade equipment." (samafoto/Getty Images) Dozens of freight and trucking stakeholders praised the recently enacted comprehensive tax and budget measure referred to as ...more
The update moves away from a commodity-based rating system to simplify the process, better utilize online data tools and align more closely with actual shipping characteristics. (vitpho/Getty Images) The National Motor Freight Traffic Association is moving toward a density-based freight classification system in a major update that is set to go into effect July 19. ...more
A Cruise vehicle in San Francisco in 2023. (Cruise) Cruise, the embattled self-driving car subsidiary of General Motors, has laid off 101 more employees across the Bay Area, marking the latest round of job cuts as the company scales back its once ambitious robotaxi efforts. According to WARN notices filed with California’s Employment Development Department, ...more
President Donald Trump announces tariffs on auto imports in the Oval Office on March 26. (Mandel Ngan/AFP via Getty Images/TNS) WASHINGTON — President Donald Trump and his advisers promised a lightning round of global trade negotiations with dozens of countries back in April. White House trade adviser Peter Navarro predicted “90 deals in 90 days.’’ ...more
A Peterbilt truck at CES in Las Vegas in 2024. (Brendan Smialowski/AFP/Getty Images) Truck maker Paccar Inc., parent company of the Kenworth and Peterbilt nameplates, will lay off 175 employees in its Sainte-Therese, Quebec, plant over weakening demand, according to a news release sent by a local union of Unifor. “These layoffs will take effect ...more
Brazil had been set to face the minimum 10% levy under the so-called “reciprocal” tariffs Trump originally unveiled in April. (Dado Galdieri/Bloomberg) Donald Trump said July 9 he would impose 50% tariffs on Brazil, a dramatic increase that followed the U.S. leader’s intense criticism of the foreign and domestic policies of leftist President Luiz Inacio ...more
The minutes underscored how a rapidly evolving economic-policy backdrop has complicated the Fed’s policy calculus this year. (Emily Elconin/Bloomberg) The emerging divide among Federal Reserve officials over the outlook for interest rates is being driven largely by differing expectations for how tariffs might affect inflation, a record of policymakers’ most recent meeting showed. “While a ...more
