91��Ƶ

Bessent noted the authority for the new duties allows for the measure to last 150 days. During that time, he said authorities will be looking at using other legislation to resurrect the tariff regime.

President Donald Trump said the U.S. would provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz.

The Senate recently confirmed Ryan McCormack to serve as under secretary of transportation for policy, filling one of the department’s top strategic roles.

“Spain has absolutely nothing that we need other than great people,” President Trump said. “They have great people, but they don’t have great leadership.”

U.S. District Judge Lewis Liman found March 3 that Transportation Secretary Sean Duffy’s move to end the program was “arbitrary and capricious.”

Energy Minister Tim Hodgson gave further details on the package March 3, including C$44 million for upgrades to the Northwest Transmission Line in northern British Columbia.

A decision to tap the Energy Department’s Strategic Petroleum Reserve could help stanch price spikes, at least temporarily. The reserve currently holds about 415 million barrels.

Shipowners and brokers are demanding more than $200,000 a day for LNG tankers in the Atlantic Basin, roughly double what they were commanding less than a day earlier, according to sources.

Oil producers jumped on a chance to lock in prices for future sales as the crude market soared, opening a window that had been scarce before the U.S. and Israel launched strikes on OPEC member Iran. 

Secretary of Labor Lori Chavez-DeRemer announced a proposed rule to rescind a controversial independent contractor rule in a move welcomed by the trucking industry.