Total cross-border trade between the United States, Mexico and Canada grew 3.3 percent after falling in 21 of the previous 22 months compared with the prior-year period, according to the Department of Transportation’s Bureau of Transportation Statistics.
The U.S. Commerce Department has determined that truck and bus tires from China are being both subsidized by the Chinese government and dumped on the U.S. market at less than fair value.
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Shares in Orient Overseas International Ltd., the parent company of ocean carrier Orient Overseas Container Line, have jumped more than 25 percent since the end of 2016, reaching a 52-week high on Wednesday.
Investments in new projects are slowing, and Neil Davidson, senior analyst in Drewry’s ports and terminals practice, warned that a sudden rebound in demand could be a problem.
The agreement, which will infuse $26 billion into the state-run ocean shipping conglomerate over the next five years, will serve China's "One Belt, One Road" strategy, according to a statement from China COSCO Shipping.