Lisa Baertlein

East and Gulf Coast port workers are set to go on strike at midnight today with no talks currently scheduled to head off a stoppage threatening to halt container traffic from Maine to Texas and cost the economy as much as $5 billion a day.

Wall Street expects United Parcel Service to report a rise in adjusted quarterly profit on Thursday, even as concern mounts over stubbornly soft demand for lucrative overnight shipping heading into the vital holiday delivery season. Analysts, on average, expect the world's largest delivery firm to post adjusted earnings of $1.63 per share when it reports third-quarter results before the market opens on Thursday, according to Refinitiv data. The company's "near-term earnings could be pressured by a still weak parcel demand backdrop," Barclays analyst Brandon Oglenski said in a client note.

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Some U.S. businesses are activating plans to protect their businesses from President-elect Donald Trump's promise to slap new and potentially hefty tariffs on a wide swath of goods from countries including China and Mexico - the top U.S. trading partners. Trump proposed a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products, which if enacted would affect the entire economy by pushing consumer prices higher and stoking retaliatory levies on American exports. Trump also threatened to impose a 25% tariff on all imports from Mexico.

Trump proposed a 10% tariff on all US imports and a 60% levy on Chinese-made products, which if enacted would affect the entire economy.

By Lisa Baertlein (Reuters) - Amazon.com and IKEA, in alliance with about three dozen other companies that depend on ocean freight, will

Divide must be bridged before Jan. 15 to avoid a second port strike that would disrupt the country’s flow of goods as importers and exporters prepare for potential upheaval from Trump’s tariffs

The union representing 45,000 East Coast and Gulf Coast dockworkers and a group representing employers held a new round of contract talks this week but failed to make significant progress on the critical issue of automation, the two sides said Wednesday.

Container shipping companies like Maersk , CMA CGM and COSCO have ordered hundreds of new vessels in recent years meant to help their industry slash greenhouse gas (GHG) emissions to meet rising demand from customers and regulators around the globe.

President-elect Donald Trump's threatened tariffs on top trade partners China, Mexico and Canada would deal a blow to the $1.7 trillion U.S. transportation industry and worsen a nearly three-year trucking recession, sector experts said.