Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy.

The trade deal with Canada and Mexico that took effect at the start of the month garnered a strong endorsement from the leadership at American Trucking Associations.

China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week.

The U.S. Treasury Department levied sanctions on Mexican trading company Libre Abordo SA de CV for buying Venezuelan oil via oil-for-humanitarian-aid agreements with the embattled country.

Officials in Washington, Ottawa and Mexico City say the border closings to nonessential travel between the U.S. and its northern and southern neighbors will remain in place for at least another month. The borders have been closed to slow the spread of the coronavirus.

President Donald Trump’s promise that his phase one trade deal with China would provide a $36.5 billion election-year bonanza for his rural base was always a stretch. Now it looks like it may never be fulfilled.

The U.S. has certified that Hong Kong is no longer politically autonomous from China, a move that could have far-reaching consequences on the former British colony’s special trading status with the U.S., Secretary of State Michael Pompeo said.

U.S. and Canadian officials reached an agreement to keep the 5,525-mile border closed to nonessential traffic until June 21.

U.S. exports of goods and services plunged in March by a record and imports declined by the most in 11 years as the coronavirus pandemic stymied trade and travel.

WASHINGTON — The U.S. trade deficit narrowed in January as exports fell but imports fell more. The politically sensitive trade gap with China widened.