A Petroleos de Venezuela pump jack on Lake Maracaibo in Cabimas, Venezuela. (Gaby Oraa/Bloomberg) WASHINGTON — President Donald Trump said March 24 he would be placing a 25% tariff on all imports from any country that buys oil or gas from Venezuela as well as imposing new tariffs on the South American country itself. In ...more
Signs, including some advising drivers of congestion pricing tolls, are displayed near the exit of the Lincoln Tunnel in New York. (Seth Wenig/Associated Press) New York City’s congestion pricing raised about $52 million in toll revenue in February as President Donald Trump and Gov. Kathy Hochul remain in a standoff over his bid to end ...more
(Norfolk Southern) Norfolk Southern says it expects to reopen its freight railroad line between Asheville and Tennessee by the end of March, six months after tracks and bridges were damaged by the remnants of Hurricane Helene. The reopening is an important step in the recovery of the Western North Carolina economy. While most goods move ...more
(SeongJoon Cho/Bloomberg News) President Donald Trump celebrated plans by Hyundai Motor Co. to mount a significant expansion in the U.S., casting it as a vindication of his administration’s use of tariffs to pressure foreign manufacturers to create American jobs. “We’re delighted to report that Hyundai is announcing a major $5.8 billion investment in American manufacturing,” ...more
(SeongJoon Cho/Bloomberg News) President Donald Trump will tout plans by Hyundai Motor Co. to invest $20 billion in the U.S., as the South Korean automaker moves to boost production on American soil and avoid his tariff threats, according to a person familiar with the matter. The investments will be highlighted at a White House event ...more
(Yuri Gripas/Abaca/Bloomberg News) President Donald Trump’s coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened, aides and allies say, a potential relief for markets gripped by anxiety about an all-out tariff war. Trump is preparing a “Liberation Day” tariff announcement on April 2, unveiling so-called reciprocal tariffs ...more
Deals were agreed with NATMI LPF Bloomington and M4 Terminals to end the leases of California facilities in Bloomington and Santa Clara, respectively. (David Paul Morris/Bloomberg News) Liquidation of the real estate assets of bankrupt less-than-truckload carrier Yellow Corp. entered a new phase in recent days — termination of terminal lease agreements. The carrier’s former ...more
Ship under construction in China. (Qilai Shen/Bloomberg) For a symbol of the chaos engulfing world trade since the Trump administration walked into the White House, look no further than a pile of 16,000 metric tons of steel pipes. Stevedores in Germany should be preparing to load the first batch on a containership bound for a ...more
The Mercedes-Benz GenH2 truck going through testing during the winter in Switzerland. (Daimler Truck) Daimler Truck’s heavy-duty hydrogen fuel cell electric truck ambitions took another step forward in recent weeks, as testing of the prototype Mercedes-Benz GenH2 Truck ramped up. Two GenH2 trucks carried out testing on the Simplon Pass in the Swiss Alps, advancing ...more
Louis DeJoy by Tom Brenner/Bloomberg News U.S. Postmaster General Louis DeJoy has resigned, hastening his previously announced departure as the nation’s postal agency looks to stem financial losses and overhaul its operations. The head of the U.S. Postal Service informed the agency’s board of governors that March 24 would be his last day, DeJoy said ...more
