Gantry cranes and containerships at the Yangshan Deepwater Port in Shanghai. (Qilai Shen/Bloomberg) The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: U.S. efforts to forge deals that could isolate Chinese firms from global supply chains. Ahead of a July 9 deadline, U.S. ...more
Del Monte executed a debt overhaul last year. (Daniel Acker/Bloomberg) Canned food company Del Monte Foods filed for bankruptcy, less than a year after executing a controversial debt restructuring. The company entered into a lender-backed restructuring support agreement that calls for the food producer to sell its assets in bankruptcy court. Del Monte has lined ...more
Rivian electric vehicles at a dealership in San Francisco in June. (David Paul Morris/Bloomberg) Rivian Automotive Inc. produced about half as many electric vehicles as Wall Street expected in the second quarter prior to the launch of 2026 model year vehicles later this month. The EV maker assembled 5,979 trucks, SUVs and delivery vans at ...more
Musk and Trump sit in a Tesla Model S at the White House in March. (Pool via AP/File) NEW YORK — Sales of Tesla electric cars fell sharply in the last three months as boycotts over Elon Musk’s political views continue to keep buyers away, a significant development given expectations that anger with the company’s ...more
Tractor-trailers wait in line for inspection before crossing the U.S.-Mexico border in Juarez, Mexico. (Justin Hamel/Bloomberg) Late one Friday night, a truck carrying sound equipment for legendary cumbia band Los Angeles Azules was pulled over along the Mexico-Puebla highway. Police at the checkpoint were in fact bandits, and upon seeing the pricey cargo they drew ...more
“The trucking industry is facing the most challenging freight market in years, with loads down and costs increasing,” Groendyke's Hodgen said. (THEPALMER/Getty Images) The average cost of operating a truck dipped slightly last year, but marginal costs jumped when the effects of lower fuel costs were excluded, the American Transportation Research Institute said in a ...more
President Donald Trump signs executive orders in the Oval Office on Jan. 20. (Evan Vucci/AP) WASHINGTON — An analysis finds that a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump’s current tariff plans, a sum that could be potentially managed through price hikes, layoffs, hiring freezes ...more
A 2024 Toyota Grand Highlander at the Chicago Auto Show in 2023. (Kamil Krzaczynski/AFP/Getty Images) Toyota Motor Corp. is tapping the brakes on plans to build electric vehicles in the U.S. to free up manufacturing capacity for a popular gas-powered SUV. The Japanese automaker plans to begin producing a new electric SUV at its plant ...more
A BYD Seagull in China. The company remains interested in expanding in the Americas but has no timeline to make a new investment. (Qilai Shen/Bloomberg) China’s top electric vehicle maker, BYD Co., has shelved plans to build a major plant in Mexico over geopolitical tensions and uncertainty stemming from President Donald Trump’s trade policies. The ...more
Workers iron items of clothing at a garment factory in Binh Thuan province, Vietnam. (Linh Pham/Bloomberg) WASHINGTON — President Donald Trump announced a trade deal with Vietnam on July 2 that would allow U.S. goods to enter the country duty-free. Vietnamese exports to the United States, by contrast, would face a 20% levy. On his ...more
