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WASHINGTON — President Joe Biden announced March 11 the U.S. will dramatically downgrade its trade status with Russia as punishment for its invasion of Ukraine and also ban imports of Russian seafood, alcohol and diamonds.

Carriers have struggled to fully capitalize on high demand because of factors suppressing volumes, American Trucking Associations Chief Economist Bob Costello said March 1.

Lucid Group Inc. slumped after lowering its production target for this year to between 12,000 and 14,000 cars, down from a previous goal of 20,000, citing “extraordinary” challenges with logistics and its supply chain.

No one asked for these challenges: not the truck buyers staring at a rising tide of freight demand, and not truck makers delivering as many new heavy-duty trucks as they can to customers, but still way too few.

The Biden administration announced several new actions Feb. 24 intended to ease supply chain disruptions that have plagued the economy during the coronavirus pandemic.

Legislation that would dedicate $52 billion to boost the country’s role as a semiconductor manufacturer amid a supply chain crisis is expected to be a main item on Congress’ agenda over the coming weeks.

The shipping industry is starting to feel the full force of surging diesel and gasoline costs.

The bottlenecked ports in Los Angeles face a narrow window between now and midyear to clear container backlogs before another import surge and union contract talks threaten to stall progress moving record volumes of cargo through the busiest U.S. gateway for trade.

Rapidly climbing inflation in the U.S. is accelerating calls from governors and state leaders to provide immediate tax relief to cash-strapped residents facing higher prices on everyday products such as gas, milk and electricity.

Companies that use global supply chains to cover up collusion and criminal conduct could face fines equivalent to 10% of their revenue.