The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to contain the coronavirus pandemic.
March 26, 2020Coronavirus News Updates
World Trade Sees Worst Downturn in Generation
Senate OKs Historic $2.2 Trillion Coronavirus Rescue Package
WASHINGTON — The Senate late March 25 passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic that has killed more than 1,000 Americans. Following the unanimous vote, the bill now moves to the House.
March 26, 2020Oil Market Fears US Running Out of Storage Space
The U.S. oil market is displaying worries that stockpiles are going to run out of storage space, with futures being whipsawed as a growing glut counters economic stimulus measures.
March 25, 2020CVSA Postpones Roadcheck Due to Coronavirus Crisis
This year’s International Roadcheck, originally set for May 5-7, has been postponed due to coronavirus concerns.
March 25, 2020Chinese Plants Ramp Up Again as Rest of World Reels
While much of the world’s output is grinding to a halt because of the coronavirus, China is slowly emerging from its shutdowns by restarting production at factories and resuming some flights.
March 25, 2020Canada Issues HOS Exemption for Coronavirus Relief
Canadian government officials approved an exemption to allow hours-of-service relief to truck drivers who are engaged in coronavirus-related relief assistance efforts.
March 25, 2020Trump Points to Potential for Resuming Daily Operations by Easter
With Congress seeking to help stabilize the economy by advancing a $2 trillion rescue measure this week, President Donald Trump suggested a significant portion of the country’s operations, such as freight and passenger transportation networks, could resume as early as Easter, which falls on April 12 this year.
March 25, 2020Airline Bailout Combines Loans With Cash-for-Equity Assistance
Struggling U.S. airlines will be eligible to receive federal loans and, if they are willing to give an option for an ownership stake to the government, direct cash assistance under the coronavirus rescue deal reached by lawmakers and the White House, according to three people familiar with the matter.
March 25, 2020Falling Oil Prices May Stem Demand for Trucks, Experts Warn
The rapid plunge in oil prices could cut into sales of both tractors and liquid tank trailers as well as the trucks that haul fossil fuel extraction equipment, experts said.
March 25, 2020With Rush Hour Traffic Gone, Truck Drivers Speed Deliveries
Truck drivers have faced a number of hurdles in the wake of the COVID-19 pandemic. But lately, traffic hasn’t been one of them.
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