Key Currency Exchange Rates for Friday, 4/20/18

UPS confirmed contract talks with the International Brotherhood of Teamsters have begun on new collective bargaining agreements. The current five-year contract continues through July 31, 2018. “UPS and the union have many shared objectives and our intent is to negotiate in an environment of mutual respect,” said Al Gudim, UPS Labor Relations President. “We believe all parties recognize that taking care of our customers with reliable service is the key to maintaining a company that rewards our employees and provides excellent job security. We are in a rapidly changing industry and look forward to working together with union negotiators to strongly position UPS for the future.” Click Read More below for more of the story.

Traders remained concerned rising output would slow the rebalancing in oil markets as the production-cut agreement has helped rid the market of excess crude supplies. Inventories of U.S. crude fell by 4.143 million barrels for the week ended June 8, well above expectations for a draw of 1.440 million barrels, according to data from the Energy Information Administration. Click Read More below for additional information.

Congress recently adjourned for its annual August recess following a productive July session that was punctuated by a number of significant wins for our industry. These victories would not have been possible without ATA’s repeated engagements with Capitol Hill. ATA experts are in regular contact with congressional leaders and staff to educate them on the trucking industry and effective policies that can best support fleets and drivers. *Improvements to young driver apprenticeship program advanced. *Base access provision included in NDAA. *House moved bill to overturn California’s destructive mandates. *Resolution opposing NYC congestion pricing breaks partisan gridlock. *ATA presses provision to protect independent contractor model. *ATA renews push to repeal FET.