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The Biden administration is weighing a new investigation into Chinese subsidies and their damage to the U.S. economy as a way to pressure Beijing on trade, people familiar with the matter said.

The U.S. trade gap widened in May to the second-largest on record as imports increased faster than exports.

The Biden administration should take a different approach to trade than that of its predecessor to help improve the U.S. economy, a key European Commission trade official said.

The U.S. merchandise-trade deficit widened more than forecast in May as the value of imports rose to near-record levels and exports declined.

Both the improved trade activ­ity and a promising future for the USMCA are favorable developments for trucking because 80% of cross-border trade moves via truck.

The U.S. merchandise-trade deficit unexpectedly narrowed in September from the prior month’s record as imports declined for the first time in four months.

Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy.

The trade deal with Canada and Mexico that took effect at the start of the month garnered a strong endorsement from the leadership at American Trucking Associations.

China plans to accelerate purchases of American farm goods to comply with the phase one trade deal with the U.S. following talks in Hawaii this week.

The U.S. Treasury Department levied sanctions on Mexican trading company Libre Abordo SA de CV for buying Venezuelan oil via oil-for-humanitarian-aid agreements with the embattled country.