Afternoon Coffee: Trump Extends Tariff Exemptions, Boeing Buys Plane-Parts Specialist KLX

President Trump announced late Monday he would postpone the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, while other allies had already received permanent exemptions, Reuters reports. The White House said the agreements reflect administration efforts “to reach fair outcomes with allies to protect our national security and address global challenges to the steel and aluminum industries.”

Boeing Buys KLX

Boeing’s push into the lucrative aircraft servicing business accelerated Tuesday with the plane maker’s announcement that it had purchased plane-parts specialist KLX for $3.2 billion, the Wall Street Journal reports. An increasingly competitive playing field for aircraft manufacturing has caused Boeing to look to the aftermarket business for better margins and longer-term profitability.

FedEx Tests Hydrogen Fuel Cells 

FedEx is looking to improve the sustainability of its vehicle fleet by testing a hydrogen fuel cell, zero-emission delivery van on one of its delivery routes near Albany, New York, according to Supply Chain Dive. The van, which has a range of 160 miles, could become one of a fleet of 20 if FedEx is satisfied with the test results. 

Inflation Looms

And finally, an economic update: year-over-year inflation is forecast to hit 2.45% this year, according a new survey by CNBC, up from a 2.14% low forecast last July for 2018. That increases the likelihood of another rate hike by the Federal Reserve in June to 86% , CNBC said.

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