Government, Business, Fuel

Diesel Price Falls for Seventh Consecutive Week, Down 1.1¢ to $2.983 a Gallon

Driver pumping diesel Daniel Acker/Bloomberg News

The U.S. average retail price of diesel dropped 1.1 cents to $2.983 per gallon, the Department of Energy reported Aug. 26, and the price of crude dropped to a two-week low amid the persistent tariff-related faceoff between the United States and China.

Roger Gilroy | Senior Reporter
August 26, 2019
Business, Logistics

Trump Says He’s Raising Tariffs on China After Its Retaliation

President Donald Trump says he'll raise tariffs on China Trump by Luke Sharrett/Bloomberg News

President Donald Trump said Aug. 23 he’s raising tariffs further on Chinese imports in response to Beijing’s retaliation earlier in the day, deepening the impasse over the two nations’ trade policies.

Joshua Gallu | Bloomberg News
August 23, 2019
Government, Business

IMF Says Tariffs Are Ineffective Tool to Right Trade Imbalances

International Monetary Fund Tariffs SeongJoon Cho/Bloomberg News

Tempting as it might be to think a stronger dollar offsets higher U.S. tariffs by making Chinese imports cheaper, the International Monetary Fund says the greenback’s global prevalence tells a different story.

Jeff Kearns | Bloomberg News
August 21, 2019
Government, Business, Fuel

Diesel Falls 1.7¢ to $2.994 in Sixth Consecutive Decline

Man gets ready to add diesel to truck Joe Raedle/Getty Images

The U.S. average retail price of diesel dropped 1.7 cents to $2.994 a gallon, the Department of Energy reported Aug. 19. Crude oil prices lifted moderately to pass $56 a barrel as U.S.-China trade tensions eased somewhat, while a drone attack on an oil field in Saudi Arabia rekindled concerns over the oil supply chain.

Roger Gilroy | Senior Reporter
August 19, 2019
Government, Business, Logistics

Trump Says US Is Talking With China but Not Ready for Deal

China trade Kyle Lam/Bloomberg News

President Donald Trump said the United States is “doing very well with China, and talking!” but suggested he wasn’t ready to sign a trade deal, hours after his top economic adviser laid out a potential timeline for the resumption of substantive discussions with Beijing.

August 19, 2019
Government, Business, Fuel

Iran Oil Tanker Released by Gibraltar as US Eyes Detention

Iranian oil tanker Grace 1 sits anchored off the Strait of Gibraltar Iranian oil tanker Grace 1 sits anchored off the Strait of Gibraltar on July 20, 2019. (Marcelo del Pozo/Bloomberg News)

Iran is racing to return an oil supertanker to international waters after a Gibraltar court determined it couldn’t wait for the United States to take action that would prolong the six-week detention of the vessel for allegedly violating trade sanctions.

August 15, 2019
Government, Business, Technology

Huawei Hires Trade Lobbyists as Sales Slow in US-China Fight

Huawei Technologies Co. sign A visitor looks at a Huawei Technologies Inc. smartphone on display at the Mobile World Congress in Shanghai on June 27, 2019. (Qilai Shen/Bloomberg News)

Huawei Technologies Co. hired the law firm Sidley Austin to lobby on trade as the U.S. pressures allies to join it in blacklisting the Chinese telecom giant and the company finds itself increasingly mired in President Donald Trump’s trade war with Beijing.

Ben Brody | Bloomberg News
August 12, 2019
Government, Business, Logistics

World Economy Edges Closer to Recession as Trade Woes Spread

Truck Qilai Shen/Bloomberg News

The escalating trade war between the U.S. and China is nudging the world economy toward its first recession in a decade with investors demanding politicians and central bankers act fast to change course.

August 7, 2019
Government, Business, Logistics

Economic Adviser Larry Kudlow Says US Still Expects China for September Trade Talks

Larry Kudlow Larry Kudlow (Andrew Harrer/Bloomberg News)

President Donald Trump’s top economic adviser, Larry Kudlow, said the United States still expects Chinese negotiators to come to Washington for another round of trade talks in September, even after the two nations escalated their trade war.

Josh Wingrove | Bloomberg News
August 6, 2019
Government, Business, Logistics

Commodities Roiled as Trump Pours Gasoline on Trade War Inferno

Commodities David Paul Morris/Bloomberg News

Raw materials are reeling after President Donald Trump threatened new tariffs on Chinese goods, dashing hopes that the two sides might soon negotiate an end to the trade war that’s sapping global growth and demand for commodities.

August 2, 2019