A group of 32 chief executive officers from major companies sent a letter to the White House, urging President Trump to move quickly on an update of the North American Free Trade Agreement (NAFTA) between the United States, Canada and Mexico, but not to mess with the underlying structure, the Wall Street Journal reported.
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United States gross domestic product (GDP) increased at an annual rate of 1.2 percent in the first quarter of 2017, according to the “second” estimate released by the Commerce Department’s Bureau of Economic Analysis (BEA).
Canada’s economy expanded at an annual pace of nearly four per cent in the first quarter, more than three times the growth seen in the U.S. in the same period. According to Statistics Canada, the total value of all goods and services sold in Canada grew in absolute terms by 0.9 per cent from the level seen at the end of 2016. But that’s an annualized pace of 3.7 per cent.
Seasonally-adjusted (SA) for-hire truck tonnage at 134 (2000=100) dropped 2.5% (its largest monthly contraction year-to-date), following declines of 1.1% in March and 0.1% in February.
Increasingly high rents charged to chassis providers by the Port Authority of New York and New Jersey could hurt the port’s overall competitiveness, says Dennis Daggett, executive vice president of the International Longshoremen’s Association.
Risk models provide a key advantage to firms operating globally, and are the first step in identifying key trade lanes, business partners, and the areas most likely to cause harm. The more you know, the easier it is to manage the risk. (This article requires a subscription to the Journal of Commerce. To subscribe, please click on the above link.)
A freight “tsunami” is sweeping toward Chicago from the Eastern Seaboard, and a proposed train-and-truck facility in suburban Will County could help railroad CSX ride the wave. Logistics and economic development experts predict a rising volume of goods passing through East Coast seaports, thanks to a wider Panama Canal and more shipments coming via the Suez Canal from Southeast Asia.
The Omaha, Neb.-based Class I railroad’s investment plans stemmed from its $3.1 billion capital plan for 2017. The capital plan was unveiled in February, and since then, the Omaha, Neb.-based Class I railroad said it would invest in Texas, California, Arkansas, Louisiana and Oregon.
If you’re using financial markets to take the pulse of the global economy, your chart’s telling you the patient’s ready to run a marathon while in need of a stint in the ICU at the same time. It all depends on the asset class you’re reading.
The price of diesel fuel in the U.S. increased for the first time in a month, ending a streak of three straight weeks of price drops, according to the latest numbers from the Energy Department. The average price of on-highway diesel fuel jumped 2.4 cents last week, hitting $2.556 per gallon at the pump. The price is now 44.1 cents more than it was in the same week of 2016.