Afternoon Coffee: Import Prices Decline in February Thanks to Low Cost of Fuel, US Restricts Exports to China’s ZTE Corp. Adobe Stock

Declining fuel costs helped drag down U.S. import prices 0.3% in February, the Bureau of Labor Statistics reported today. Export prices also fell 0.4% last month.

The U.S. has placed an export restriction on China’s ZTE Corp., which bans U.S. manufacturers from selling components to the company. The move is due to ZTE allegedly violating Iran sanctions.

The expanded Panama canal project will open to commercial traffic by the end of June, the Panama Canal Authority said this week. The completion of the project is reportedly nearly two years behind schedule and $2 billion over budget.  

A new Gallup poll said only 29% of B2B customers are engaged. Additionally, 20% of customers said they have experienced a problem with a company or product and only 40% believe the company resolved that problem.

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