Key Currency Exchange Rates for Friday, 5/27/22
American Dollar to Canadian Dollar = 0.784713; American Dollar to Chinese Yuan = 0.149249; American Dollar to Euro = 1.072026; American Dollar to Japanese Yen = 0.007881; American Dollar to Mexican Peso = 0.050746.
https://www.x-rates.com/table/?from=USD&amount=1.00
Related Posts
Oil Falls to 2-Week Low as China Retaliates in U.S. Trade War
Futures in New York slipped as much as 2.1 percent to the lowest intraday price since March 20. China’s Ministry of Commerce said it would levy 25 percent tariffs on imports of 106 U.S. products including automobiles and aircraft. That wiped out earlier support for prices as Organization of Petroleum Exporting Countries output dropped to the lowest in a year in March. “It’s only logical to see profit-taking in light of looming trade tensions and possible financial market turbulence,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. Global equities sank after China unveiled its charges, which match the scale of proposed U.S. tariffs announced earlier this week and ratchets up tension in a brewing trade war between the world’s two largest economies. With products ranging from gas turbines to steel and aluminum affected, the spat threatens to raise costs, slow economic growth and hit oil demand. Click Read More below for additional information.
Bipartisan bill would help modernize nation’s truck fleet by repealing 12% excise tax on new tractor-trailers (trucking.org)
The American Trucking Associations praised the introduction of the Modern, Clean, and Safe Trucks Act of 2021 by Senators Todd Young (R-Indiana) and Ben Cardin (D-Maryland). The bipartisan legislation would repeal the 12% federal excise tax on heavy-duty trucks, which currently adds approximately $22,000 to the cost of a new tractor-trailer. “The federal excise tax on heavy trucks is a relic from the First World War that’s now serving to keep cleaner, safer trucks off of our nation’s roads today,” said Chris Spear, president and CEO of American Trucking Associations. “By repealing this antiquated tax, Congress can deliver a win for the environment, highway safety, manufacturing jobs and supply-chain efficiency. We thank Senators Young and Cardin for their bipartisan leadership in advancing a common-sense solution to the benefit of American truckers and the motoring public.” Although technological advances have made the latest tractor-trailers cleaner and safer than ever before, the FET creates a disincentive for motor carriers to modernize their fleets by placing a punitive surcharge on investments in new equipment. As a result, the average age of a truck on the road today is nearly ten years old.