One of the busiest trade ports on the U.S.-Mexico border remained effectively closed Wednesday as frustration and traffic snarls mounted over orders by Texas Gov. Greg Abbott requiring extra inspections of commercial trucks.
Reports of civilians being tortured and killed in Ukraine, with streets on the outskirts of Kyiv being strewn with corpses, had some lawmakers this week questioning why the Senate had not yet taken action on the bill.
The war’s damage to the auto industry has emerged first in Europe. But U.S. production will likely suffer eventually, too, if Russian exports of metals—from palladium for catalytic converters to nickel for electric vehicle batteries—are cut off.
Indiana-based firms are struggling with how to protect their employees and their business interests in those countries while also condemning the Russian government’s actions.
Russia is not one of the United States’ top trading partners, but the goods and services exported by both countries are still substantial.
In its annual report on Chinese compliance with WTO rules, the Office of the U.S. Trade Representative said Wednesday that China isn’t keeping the promises it made to open its markets to foreign competition.
The crossing normally carries 25% of all trade between the two countries, and the blockade on the Canadian side had disrupted business in both countries, with automakers forced to shut down several assembly plants.
The blocked bridge carries 25% of all trade between the two countries, and Canadian authorities expressed increasing worry about the economic effects.
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.
U.S. Trade Representative Katherine Tai said the agreement with Japan, along with a separate deal last year on steel with the European Union, will put them in a better place to compete against China, the world’s second largest economy.
The October deficit was the smallest monthly deficit since a $66.2 billion imbalance in April.
The U.S. move is a potential hurdle for President Joe Biden’s ambition to promote solar power. Hoshine is one of the biggest global suppliers of polysilicon, a material used to make solar panels.
The e-commerce giant said Monday that it blocked more than 10 billion suspected phony listings last year before any of their offerings could be sold.
Goods entering the U.S.—ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies—could face tariffs of as much as 25% annually.
Biden has said his trade agenda will focus on helping middle-class families who have been disproportionately hurt by globalization.
In his first weeks in office, President Joe Biden has wasted no time in dumping a batch of major Trump administration policies, but his administration seems intent on approaching trade with caution and deliberation.
Keystone XL President Richard Prior said over 1,000 jobs, the majority unionized, will be eliminated. The premier of the oil-rich Canadian province of Alberta called the decision an “insult” and said the Canadian government should impose trade sanctions.
China eked out 2.3% economic growth in 2020, likely becoming the only major economy to expand as shops and factories reopened relatively early from a shutdown to fight the coronavirus while the United States, Japan and Europe struggled with rising infections.
The incoming administration is widely expected to embrace a more multinational approach to U.S. trade policy, moving away from the “America first” strategy embraced by President Trump.
Indiana Gov. Eric Holcomb said it would take years to clean up the 725-acre site, making it not financially viable.
