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FILE - Shipping containers are seen ready for transport at the Guangzhou Port in the Nansha district in southern China's Guangdong province, April 17, 2025. (AP Photo/Ng Han Guan, File)
May 6, 2025

US trade deficit hits record high as businesses, consumers try to get ahead of Trump tariffs

U.S. trade deficit surged to a record $140.5B in March as businesses raced to import goods ahead of sweeping Trump tariffs, dragging on GDP growth.

Canadian Prime Minister Mark Carney boards a government plane in Ottawa, Ontario, Monday, May 5, 2025, en route to Washington for a meeting with U.S. President Donald Trump on Tuesday. (Adrian Wyld/The Canadian Press via AP)
May 6, 2025

Trump insults Canada ahead of its prime minister’s arrival at the White House

Trump gives new Canadian PM Mark Carney a cold welcome, questioning U.S. dependence on Canada amid rising trade tensions and sovereignty disputes.

A See's Candy worker restocks the display next to a cutout of Warren Buffett at the Berkshire Hathaway shareholders meeting exhibit hall Friday, May 2, 2025 in Omaha, Neb. (AP Photo/Josh Funk)
May 3, 2025

Buffett says US shouldn’t use ‘trade as a weapon’ as Trump has done with tariffs

Warren Buffett criticizes Trump’s tariffs, urges global trade, and shares insights on markets, succession plans, and Berkshire’s $347B cash reserves.

Apr 30, 2025

Truckers hope freight recession is finally ending

Virginia truckers eye regulatory rollbacks under Trump and hope a February freight bump signals recovery after the nation’s longest freight recession.

Apr 30, 2025

Tariffs spark uncertainty for Virginia port and shippers

Shipping and logistics companies and related maritime industries worry about the impacts of President Trump's global trade war and international tariffs. In a worst-case scenario, long-term tariffs on imports and exports would have a cascading effect, accumulating downstream across the economy, economists say.

Apr 30, 2025

Ocean freight outlook 2025: tariffs, crisis fuel chaos

Ocean freight faces uncertainty in 2025 due to Red Sea crisis, U.S.-China tariffs, and overcapacity from new vessels and shifting port strategies.

Apr 30, 2025

Port of Virginia channel widening boosts ship traffic

Port of Virginia completes channel widening, enabling 2-way ship traffic and boosting cargo volumes as deepening continues and offshore wind grows.

Apr 30, 2025

Executive insights: Maritime leaders on tariffs, workforce development and more

DONALD MILLS President and general manager, Mills Marine & Ship Repair, Suffolk Virginia Business: How did you move from being employed at Huntington Ingalls Industries and Newport News Shipbuilding to starting your own business? Mills: At HII, I gained extensive hands-on experience, comprehensive industry insights and valuable professional relationships. This tenure taught me critical technic[...]

Apr 30, 2025

Tariffs, politics drive uncertainty for shipping

Rising tariffs, Red Sea attacks, and labor costs create instability for shippers and could impact Port of Virginia operations and U.S. supply chain

People work on the floor at the New York Stock Exchange in New York, Wednesday, March 19, 2025. (AP Photo/Seth Wenig)
Apr 21, 2025

US stocks sink with the US dollar’s value as investors retreat further from the United States

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are tumbling Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 3.4% in another wipeout. […]

Apr 16, 2025

Hong Kong post office will stop shipping parcels to the US over tariffs

HONG KONG (AP) — Hong Kong’s post office will stop shipping small parcels to the United States after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city, the government said Wednesday. The U.S. government earlier announced that it would end a customs exception allowing small-value parcels from Hong Kong to enter the U.S. without […]

Apr 16, 2025

Retail sales rise 1.4% in March as shoppers stock up on big ticket items ahead of tariffs

NEW YORK (AP) — U.S. shoppers stepped up their shopping last month, fueled by a spending spree on big ticket items, particularly cars, before President Donald Trump’s expansive new tariffs started kicking in. But analysts were quick to point out that the data wasn’t a sign of strength but underscored the extreme economic uncertainty that […]

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