The proposed sale was first announced in December 2023, and has faced opposition from U.S. Steel union workers and federal leaders alike.

Sales of foreign vehicles in China have been hit by the rise of local automakers, with GM sales slumping 59% in the first 11 months of 2024.

The week-long talks, known as INC-5, ended in a deadlock over objections to the inclusion of cuts to plastic production in so-called ambition countries.

Dan Swartz of Crowe LLP speculates on how the new Trump Administration will impact tariffs on China and other U.S. trading partners, as well as the U.S.-Mexico-Canada Agreement.

The U.S. Commerce Department announced December 2 it will expand the list of companies on the so-called “entity list,” and would limit exports of high-bandwidth memory chips to China.

The addition of the companies to the “entity list” means that U.S. tech vendors will be denied export licenses for sales to them.

Teamsters president Sean O'Brien was also reportedly among those pushing Trump to tag Chavez-DeRemer to lead the Department of Labor. 

The de-listing follows a pledge by Panama’s maritime authority in October to penalize vessels sanctioned by the U.S., European Union, U.K. and United Nations.

CFO Jeff Howie Howie says that Williams-Sonoma has reduced the percentage of goods it sources in China from 50% to 25% over the last few years.

To adapt to shifting trade policies, U.S. manufacturers should focus on supply chain resilience, cost-efficient production through automation, and recurring revenue through monetization and servitization.