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House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s massive tax package.

American businesses that rely on Chinese goods reacted with muted relief May 12 after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days.

Rodolphe Saade, CEO of CMA CGM SA, hailed a truce in the trade war between Washington and Beijing.

The U.S. collected a record amount of revenue from tariffs in April, helping to limit a further widening of the budget deficit.

Saudi Arabia’s state-owned oil giant Aramco posted Q1 profit of $26 billion on May 11, down 4.6% from the prior year as falling global oil prices undermine the kingdom’s development plans.

Senate Republicans are developing a strategy to formally push back on certain Biden-era emissions waivers granted to the state of California.

The New York City Department of Transportation will expand a program to fine overweight trucks on major infrastructure.

U.S. and Chinese officials said May 12 they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks.

President Donald Trump is expected to sign a trio of new executive actions designed to reduce the impact of regulations — part of an effort the White House has said will spur economic growth.

Concerns are mounting that the $17.9 billion military Global Household Goods contract is falling short, notably by transferring large numbers of moves back to the legacy moving program.