A ship arrives at the Port of Los Angeles in April. (Eric Thayer/Bloomberg) The U.S. trade deficit widened to a record in March as companies rushed to import products as the Trump administration readied sweeping tariffs. The goods and services trade gap grew 14% from the prior month to $140.5 billion, Commerce Department data showed ...more
Congestion Relief Zone signage on Second Avenue in New York. (Michael Nagle/Bloomberg) New York asked a judge to stop the Trump administration from withholding federal approvals or funds in the president’s push to end Manhattan’s congestion pricing program. The request, filed May 5, comes after the state said it had reached an “impasse” in its ...more
Reducing its sales outlook shows how Trump’s tariff policies and related economic worries risk worsening an existing slowdown in EV demand. (Bing Guan/Bloomberg) Rivian Automotive Inc. said full-year deliveries will decline more sharply than it anticipated just a month ago over the risk that consumer worries stoked by President Donald Trump’s trade war will further ...more
Until resolution of court challenges, Wage and Hour field operators will use the guidelines contained in a 2008 “fact sheet” that is considered more favorable to independent operators than the Biden-era rule. (kali9/Getty Images) The Department of Labor has announced it is reviewing the Biden administration’s 2024 worker classification guidance, which directs employers on how ...more
C.H. Robinson reported earnings of $135.3 million for the first quarter compared with $92.9 million in the 2024 period. (C.H. Robinson Worldwide) C.H. Robinson Worldwide experienced a 45.6% surge in earnings off lower revenue during the first quarter of 2025, the company reported April 30. The Eden Prairie, Minn.-based logistics and shipping company posted net ...more
A Cummins diesel engine at the Cummins plant in Seymour, Ind. (Luke Sharrett/Bloomberg) Equipment manufacturer Cummins saw revenue fall in the first quarter of 2025 on the back of weaker on-highway truck sales in both North and South America and broad buyer worry about business trends. Sales of the company’s engines, driveline components and brakes ...more
The vote passed in the House on March 5 and the Senate on May 6. The measure heads to the president’s desk for signing next. (Patrick Semansky/Associated Press) Congress has voted to kill a Biden-era rule requiring rubber tire makers to clean up planet-warming emissions from their manufacturing processes in the U.S. The Environmental Protection ...more
Eaton Center office in Beachwood, Ohio. (Eaton Corp.) Data center and electricity generation construction continued to power Eaton profit and revenue increases in the first quarter of 2025 as the component manufacturer’s vehicles division lagged again. Dublin-based Eaton posted net income of $964 million in the most recent quarter, an increase of 17% compared with ...more
“It’s going to be a very fair number, it’ll be a low number. We’re not looking to hurt countries,” Trump said. (Evan Vucci/Associated Press) U.S. President Donald Trump said he would prescribe tariff levels and trade concessions for partners looking to avoid higher duties, appearing to move away from the idea that he would engage ...more
Newly manufactured Allison transmissions. The company's Q1 net income rose 13.6% to $192 million. (Allison Transmissions) U.S. demand this year for Class 8 vocational trucks and day cab tractors that has tracked with expectations combined with a lift from higher prices helped boost Allison Transmission earnings in the first quarter of 2025. Allison CEO David ...more
