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Trade Chief Says 'Stay Tuned' on Tariffs; Houthis Attack Saudi Tankers; CSX Raises Outlook By Mark R. Long | WSJ Logistics Report

President Trump's 10% global tariff expires Friday, but the U.S. trade chief says he isn't focused on a particular timeline to implement the duties he has planned to replace them , the WSJ's Gavin Bade writes.

In February, Trump imposed a 10% global tariff

to replace duties thrown out by the Supreme Court. That tariff is limited to 150 days, which means it will expire early Friday. U.S. Trade Representative Jamieson Greer has proposed a set of duties based on forced labor concerns

to replace the expiring tariffs, but he declined to tell reporters whether they would be finalized by the Friday deadline.

Greer has previously floated renewing the temporary tariff

if the forced-labor tariffs aren't ready in time. He argued that the underlying statute requires them to expire after 150 days, but doesn't say if they can be reimposed after. He declined to say whether that option is still on the table.

Greer also told a Senate Committee on Finance hearing Wednesday that the renegotiation of the U.S.-Mexico-Canada Agreement could stretch into 2027, though the Trump administration hopes for some partial agreements with Canada and Mexico by the end of this year. Trump in July declined to renew the USMCA as-is , setting off a decade of yearly reviews of the deal.

Canada canceled a joint event with the U.S.

planned for Friday to celebrate the opening of the Gordie Howe International Bridge, after Trump announced a 50% tariff on some Canadian imports. (The Detroit News) CONTENT FROM: PENSKE Gain Visibility. Gain Ground with Penske Logistics.

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Energy

Yemen's Iran-backed Houthi militants said they attacked two Saudi oil tankers attempting to transit the Bab al-Mandeb strait , hitting at least one as it tried to cross the Red Sea chokepoint that accounted for roughly 12% of the world's seaborne oil flows before the war.

That leaves global energy supplies threatened on three fronts: the Persian Gulf, the Black Sea and now the Red Sea. And it goes into these disruptions with the lowest levels of oil supplies in years , the Journal's Rebecca Feng and Costas Paris write.

The closing of the three chokepoints collectively imperils close to a quarter of the world's oil supply, once again testing the ability of energy hungry economies to adapt. Brent futures jumped more than 4% to top $98 on Thursday, the highest in nearly two months. But the real pain in markets lies in diesel, gasoline and other refined products.

Dubai's DP World said it will develop two new maritime terminals

at the port of Fujairah on the UAE's eastern coast, in a move that will help reduce the country's reliance on the Strait of Hormuz. (WSJ) U.S. commercial crude oil inventories rose unexpectedly

by two million barrels last week as imports increased and exports fell. (WSJ) Ocean carriers plan more emergency fuel surcharges

next month as the escalating Iran war sends bunker prices higher, reversing a recent downward trend. (Journal of Commerce) Number of the Day Corporate Results

CSX raised its full-year revenue and margin outlooks, saying tightening truck supplies were expected to continue supporting a shift by shippers to rail. A 10% second-quarter revenue increase

was driven by higher fuel surcharges, pricing and volumes across merchandise, intermodal and coal, the WSJ's Grace Yoon reports.

The Jacksonville, Fla.-based railroad said in a presentation

that it was seeing beneficial demand trends from infrastructure spending and the AI data-center buildout, though inventory normalization and plant turnarounds could slow second-half momentum in the automotive and chemical sectors. Coal conditions look stable to positive, CSX said, supported by power-plant life extensions.

Knight-Swift Transportation Holdings posted higher quarterly revenue and profit and said supply driven truckload-market tightening

pushed up spot rates, tender-rejection rates and contractual negotiations. Danish logistics giant DSV said its road unit's performance fell short of expectations

and that events in the Middle East could affect its outlook for the year. (Dow Jones Newswires) Tesla's free cash flow fell for the first time in more than two years

as the EV maker supercharged spending to expand in AI and robotics. (WSJ) GE Vernova raised its full-year revenue and margin expectations after a surge in orders

boosted the energy-equipment company's backlog. (WSJ) Cal-Maine Foods swung to a quarterly loss as sales dropped by half because of an oversupply of eggs . (WSJ) In Other News Prologis, the world's biggest owner of industrial real estate, sweetened its offer

for U.K. rival Segro to $18.72 billion, saying this was its final proposal. (WSJ) Penske Corp. and Mitsui proposed to buy out

the rest of the Penske Automotive Group shares they don't own and take the dealership chain private in a deal that could be worth $3.78 billion. (WSJ) Volkswagen's China-based automated driving joint venture Carizon is deepening its partnership with Horizon Robotics to accelerate development

of advanced automated driving technology. (WSJ) AMD and Anthropic signed a deal

for tens of billions of dollars' worth of AI servers. (WSJ) Alaska Air Group said it entered long-term lease agreements

to add four Boeing 737-800 freighters to its cargo fleet. (WSJ) The Department of Transportation and California's Port of Long Beach signed an agreement to test small modular nuclear reactors

for commercial vessels and other maritime applications. (Bloomberg) The Surface Transportation Board ordered Union Pacific and Norfolk Southern to make public job-impact data

related to their proposed merger. (TrainsPRO) Trump proposed giving some military veterans automatic eligibility for commercial driver licenses. (Transport Topics) About Us

Mark R. Long is editor of WSJ Logistics Report. Reach him at [mark.long@wsj.com]. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long , Liz Young and Paul Berger .

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

July 23, 2026 07:05 ET (11:05 GMT)

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