Shipping operations at Haiphong Port in Vietnam. (Linh Pham/Bloomberg) President Donald Trump’s two-tiered trade deal with Vietnam aims squarely at practices China has long used to skirt U.S. tariffs: the widespread legal shifting of production to Southeast Asian factories and the murkier and illegal “origin washing” of exports through their ports. The agreement slaps a ...more
(Matt Rourke/AP/File) U.S. employers added 147,000 jobs in June as the American labor market continues to show surprising resilience despite uncertainty over President Donald Trump’s economic policies. The unemployment rate ticked down 4.1% from 4.2% in May, the Labor Department said July 3. Hiring rose modestly from a revised 144,000 in May and beat economists ...more
A sign promotes the Texas Hold'Em Initiative, which began in 2008. (U.S. Border Patrol Laredo Sector via Facebook) A partnership between U.S. Customs and Border Protection and the state of Texas has resulted in more than 1,000 truckers having their commercial driver licenses permanently revoked for smuggling people and drugs across the U.S. border with ...more
Canadian Prime Minister Mark Carney met with the leadership of the Canadian Vehicle Manufacturers’ Association and member executives from the group, which includes GM, Stellantis and Ford. (David Kawai/Bloomberg) Canadian Prime Minister Mark Carney met with automotive executives July 2 to discuss how to help auto plants that have been choked by U.S. tariffs. Canada ...more
Janelle Lowe prepares to charge her electric vehicle at a charging station Thursday, May 22, 2025, in Long Beach, Calif. (AP Photo/Damian Dovarganes) The Trump administration’s plan to scrap federal incentives for electric vehicles will be a major speed bump for battery-powered transportation in the U.S., but not a brick wall, according to forecasts. On ...more
Carriers spent considerable amounts of hard-earned cash on the Tre tractors, even as Nikola executives hunted for a financial backer for many months. (Andreas Gebert/Bloomberg) If the manufacturer of the trucks you bought implodes, what do you do? After Nikola Motors filed for Chapter 11 bankruptcy protection on Feb. 19, customers expressed hope a buyer ...more
Carriers spent considerable amounts of hard-earned cash on the Tre tractors, even as Nikola executives hunted for a financial backer for many months. (Andreas Gebert/Bloomberg) If the manufacturer of the trucks you bought implodes, what do you do? After Nikola Motors filed for Chapter 11 bankruptcy protection on Feb. 19, customers expressed hope a buyer ...more
An OPEC-branded oil drum at the COP29 climate conference in Baku, Azerbaijan, in November 2024. (Andrey Rudakov/Bloomberg) OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s videoconference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the ...more
Kunar joined DHL Supply Chain in 1996 as a financial analyst. (DHL Group) DHL Supply Chain North America promoted Mark Kunar to CEO, parent company DHL Group said. Kunar, previously DHL Supply Chain North America’s chief financial officer and chief strategy officer, replaced Patrick Kelleher. Kunar will report to Oscar de Bok, CEO of DHL ...more
Nike shoes on display at a store in London. Nike had already been planning on price increases before the Vietnam tariff deal. (Chris Ratcliffe/Bloomberg) Nike Inc. will face pressure to raise prices higher than expected after the U.S. and Vietnam reportedly reached a new trade agreement that boosts tariffs, according to an analyst. “Nike already ...more
