Ursula von der Leyen, president of the European Commission. (Simon Wohlfahrt/Bloomberg) European Union leaders are set to debate their strategy in response to President Donald Trump’s trade war, with the likely choices coming down to accepting an unbalanced deal or risking escalation by striking back. European Commission President Ursula von der Leyen will brief EU ...more

Shipping containers on a storage lot at the Port of Brisbane in Brisbane, Australia. (Carla Gottgens/Bloomberg News) Global merchandise trade accelerated in the World Trade Organization’s latest assessment, with a surge in imports tied to tariff stockpiling outweighing a slowdown in export orders. The WTO’s goods barometer rose to 103.5 in the first quarter, the ...more

(Nathan Howard/Bloomberg) The U.S. merchandise-trade deficit unexpectedly widened in May on the biggest drop in exports since the onset of the pandemic, while imports were little changed. The shortfall in goods trade grew 11.1% to $96.6 billion, Commerce Department data showed June 26. The figure was larger than the $86.1 billion median estimate in a ...more

(Randy Holt/Associated Press) Associated British Food Plc’s Vivergo ethanol plant, one of only two major sites in the nation, has begun closing-down procedures as a flood of U.S. duty-free products looks set to wipe out production in the U.K. A consultation with employees to enact a wind-down of operations of the site in northern England ...more

Gas pump at a Costco in Thornton, Colo. (David Zalubowski/AP/File) WASHINGTON — The U.S. economy shrank at a 0.5% annual pace from January through March as President Donald Trump’s trade wars disrupted business, the Commerce Department reported June 26 in a downgrade from its previous estimate. First-quarter growth sank under a surge of imports as ...more

Uber has already partnered with Pony to launch commercial robotaxi services outside the U.S., starting in the Middle East. (Pony AI) Uber Technologies Inc. is in talks with founder Travis Kalanick to help fund his acquisition of the U.S. arm of Chinese self-driving firm Pony AI Inc., the New York Times reported. Shares of both ...more

Carney introduced a new tariff-rate quota last week to limit imports of steel and said it may adjust tariffs on U.S. steel products on July 21. (Cole Burston/Bloomberg) A group of Canadian steel producers said the government’s plan to restrict foreign steel imports isn’t strong enough and warned that the industry is set to shed ...more

Nikola's Tre hydrogen fuel cell electric truck and the Mack Class 8 Anthem. Mack won the lion’s share of the credits available in the court-sanctioned auctioned and will pay more than $15.3 million. (Connor D. Wolf/Transport Topics and Mack Trucks) Mack Trucks and International Motors were two of the three winners in an auction of ...more

ATA Chief Economist Bob Costello said construction is soft, manufacturing has been volatile, and consumers are being cautious, resulting in choppy market conditions. (Aziz Shamuratov/Getty Images) The freight market has remained choppy, with demand not demonstrating any clear patterns during the month of May, American Trucking Associations reported June 24. The ATA For-Hire Truck Tonnage ...more

Inspectors identified 237 (59.5%) CMVs that met the 20% defective brakes criterion. That is when 20% or more of the vehicle’s (or combination of vehicles’) brakes have an out-of-service condition. (Commercial Vehicle Safety Alliance via Facebook) Unsafe brake-related problems led to nearly 10% of some 4,560 commercial motor vehicles being taken out of service in ...more