Trump pledges to impose 25% tariffs on goods from Canada and Mexico
The president-elect also said he would increase Chinese tariffs by 10% until China cracks down on illegal drug exports to the United States go through Chris Chilton November 26, 2024 07:46 Donald Trump has vowed to impose 25% tariffs on goods shipped to the United States from Mexico and Canada. The re-elected president also pledged to increase existing tariffs on goods from China by 10%. Trump said the new tariffs will remain in place until countries reduce the amount of illegal drugs shipped to the United States. Donald Trump won't return behind his old desk in the Oval Office until January, but he has already promised that one of his first orders of business will be to impose new tariffs on products from neighboring Canada and Mexico, as well as on imports from China. Products are subject to higher tariffs. Trump wrote in his first statement: "On January 20, as one of my first many executive orders, I will sign…
Biden administration pledges $580 million to strengthen U.S. power
The U.S. Department of Transportation's Maritime Administration (MARAD) announced an investment of nearly $580 million to enhance port infrastructure across the United States. Funded by the bipartisan Infrastructure Act, the initiative will support 31 improvement projects across 15 states and one U.S. territory aimed at increasing the efficiency and capabilities of the nation’s maritime transportation system. Transportation Secretary Pete Buttigieg emphasized the importance of this investment, saying, "America's ports are critical to our supply chain. These projects from Long Beach to Monroe will expand capacity, increase efficiency, and provide Help reduce household costs.” The funding is allocated through MARAD’s Port Infrastructure Development Program (PIDP), a $2.25 billion program launched under the bipartisan Infrastructure Act. PIDP provides comprehensive support for planning, capital investment and project management to modernize urban and rural ports. Maritime Administrator Ann Phillips highlighted the impact of these upgrades, noting that U.S. waterways handle 2.3 billion short tons of cargo annually. She described the benefits of port improvements…
Maersk pledges $2 billion to upgrade Pakistani ports and
Danish shipping giant Maersk has announced that it will invest $2 billion in Pakistan's ports and transportation infrastructure over the next two years. The investment is aimed at boosting Pakistan's infrastructure and promoting economic growth, a state-owned news agency reported. Also read: Maersk launches new methanol-powered container ship, advancing green shipping goals As part of the initiative, Pakistan Maritime Minister Qaisel Ahmed Sheikh plans to visit Denmark this month to sign a memorandum of understanding (MoU) between Maersk Line and the Karachi Port Authority. Qaisel Ahmed Sheikh stressed that Karachi has a huge potential to increase exports and the Maritime Ministry is committed to creating a conducive environment for the business community to take advantage of this opportunity. Earlier, Abu Dhabi Ports Pakistan CEO Khurram Aziz Khan announced an investment of $250 million in the Port of Karachi over the next decade during a meeting with Pakistani Prime Minister Shehbaz Sharif. Khan also outlined plans to invest $130 million in…
GM CEO Mark Reuss pledges investment in internal combustion vehicles amid shift to electric vehicles
“You have to keep investing in combustion vehicles,” GM’s president said of the automaker’s flexibility in building both electric and combustion vehicles. go through Chris Chilton 13 hours ago GM President Mark Reuss said the company will continue to invest in combustion technology as it transitions to electric power. The automaker said its manufacturing setup is flexible enough to accommodate changes in consumer demand between ICEs and EVs. GM recently delayed the launch of its Chevrolet Silverado EV and GMC Sierra EV trucks because the electric vehicle market has not matured as expected. GM President Mark Reuss said GM will continue to invest in combustion technology in the coming years as the automaker and the industry transition to electric power. At the CAR Management Briefing Seminar, Reuss updated attendees on GM's flexible production strategy, which helps protect it from changes in customer demand, and reiterated his commitment to ICE. GM has dedicated electric and internal combustion engine plants, as well…
Explore the latest exhibition information and industry trends at ASAP Expo Magazine. Your one-stop platform, bringing together global exhibition highlights, industry trends and in-depth analysis, to help companies accurately connect with the market and seize business opportunities.
