Government

The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to contain the coronavirus pandemic.

WASHINGTON — The Senate late March 25 passed an unparalleled $2.2 trillion economic rescue package steering aid to businesses, workers and health care systems engulfed by the coronavirus pandemic that has killed more than 1,000 Americans. Following the unanimous vote, the bill now moves to the House.

The U.S. oil market is displaying worries that stockpiles are going to run out of storage space, with futures being whipsawed as a growing glut counters economic stimulus measures.

This year’s International Roadcheck, originally set for May 5-7, has been postponed due to coronavirus concerns.

While much of the world’s output is grinding to a halt because of the coronavirus, China is slowly emerging from its shutdowns by restarting production at factories and resuming some flights.

Canadian government officials approved an exemption to allow hours-of-service relief to truck drivers who are engaged in coronavirus-related relief assistance efforts.

With Congress seeking to help stabilize the economy by advancing a $2 trillion rescue measure this week, President Donald Trump suggested a significant portion of the country’s operations, such as freight and passenger transportation networks, could resume as early as Easter, which falls on April 12 this year.

Struggling U.S. airlines will be eligible to receive federal loans and, if they are willing to give an option for an ownership stake to the government, direct cash assistance under the coronavirus rescue deal reached by lawmakers and the White House, according to three people familiar with the matter.

The rapid plunge in oil prices could cut into sales of both tractors and liquid tank trailers as well as the trucks that haul fossil fuel extraction equipment, experts said.

The Trump administration struck a deal with Senate Democrats and Republicans on an historic rescue package with more than $2 trillion in spending and tax breaks to bolster the hobbled U.S. economy and fund a nationwide effort to stem the coronavirus.