A CATL battery pack. (Krisztian Bocsi/Bloomberg News) The U.S. Commerce Department set the stage for anti-subsidy duties on imports of key battery components from China, after concluding materials had been unfairly subsidized. The agency’s preliminary determination is an early milestone in a trade case looking at supplies of active anode material, which is vital for ...more
A Maersk containership begins to pull out of Yangshan Deep Water Port in Shanghai, China. (Qilai Shen/Bloomberg) A temporary trade truce between the world’s two largest economies has sparked a knee-jerk bounce across China’s ports and factory floors. In the week beginning May 12, when the U.S. and China agreed to sharply reduce tariffs for ...more
Einride's autonomous truck. (Einride) Einride AB is shaking up its top management as the Swedish driverless truck startup lays the groundwork for a possible initial public offering. Founder and CEO Robert Falck will become executive chairman of the board to prepare for a listing, the company said in a statement May 21. Chief Financial Officer ...more
Tesla unveiled its Cybercab in October 2024. (Tesla) DUBAI, United Arab Emirates — Elon Musk said that he expects hundreds of thousands of self-driving Teslas will be on the road requiring no human intervention by the end of next year and that he is committed to staying as CEO of the company for at least ...more
An Amazon spokesperson acknowledged May 20 that refunds are being sent to customers but declined to specify how many or the overall cost. (David Paul Morris/Bloomberg) Amazon.com Inc. customers are suddenly getting refunds for products they purchased and returned as far back as 2018, along with apologies from the online retailer after it discovered “unresolved” ...more
The Japanese automaker wants to source batteries in the U.S. in part to avoid President Donald Trump’s tariffs. (Kiyoshi Ota/Bloomberg) Nissan Motor Co. is nearing a deal to procure electric vehicle batteries in the U.S. from a joint venture between Ford Motor Co. and South Korea’s SK On, according to people familiar with the matter. ...more
The Modern Worker Empowerment Act would establish a comprehensive test for arriving at a worker classification. (welcomia/Getty Images) WASHINGTON — American Trucking Associations voiced support for steps to rescind a Biden-era labor rule during a recent hearing on Capitol Hill. Nathan Mehrens, ATA’s vice president for workforce policy, told a House panel the group backs ...more
Nvidia chips in Taipei, Taiwan. (I-Hwa Cheng/Bloomberg) The Trump administration will maintain efforts to keep advanced artificial intelligence technology out of China’s hands, a top White House official said, brushing off calls from Nvidia Corp. CEO Jensen Huang to ease restrictions on chip exports to the world’s second largest economy. “We obviously have huge respect ...more
Bessent — who has emerged as one of President Donald Trump’s chief trade negotiators — is expected to speak with each of his counterparts. (Stefani Reynolds/Bloomberg) Finance ministers who’ve gathered in Canada for a Group of Seven meeting this week face a difficult task — trying to find common ground on trade issues while avoiding ...more
Containers at Trieste Port in Trieste, Italy. (Marco Di Lauro/Getty Images) The European Union has shared a revised trade proposal with the U.S., as it aims to inject momentum in talks with President Donald Trump’s administration amid lingering skepticism that a transatlantic deal can be reached. The new paper includes proposals that take into account ...more
