The U.S. trade deficit increased 2.6% in February, reaching $47.1 billion, the highest level in six months. Exports rose $1.8 billion to $178.1 billion in February and imports increased $3 billion to $225.1 billion.
Ford Motor Co. is investing $1.6 billion to expand auto production in Mexico in the coming years. The car maker plans to build a San Luis Potosi plant in Mexico, which would open in 2018.
Costco is reportedly working with farmers to help them meet the rising demand for organic food. The wholesale company is loaning money to farmers so they can buy the land and equipment needed to grow organic foods.
Supply chain risk management solution provider riskmethods has appointed Bill DeMartino as the new general manager of North American operations. DeMartino was formerly senior vice president of strategy at Determine, Inc.