The US trade deficit widened by 5.1% in January to $67.4 billion, its highest level since April, according to data from the Commerce Department. The widening deficit, which follows a year of narrowing deficit, was primarily fueled by a 1.1% rise in imports, with motor vehicles and capital goods leading the way, while exports remained essentially unchanged.

Electrical supplier United Electric recently opened a regional service center in Culpeper, Va., that will provide customers with expanded local product selection, a variety of delivery options and advanced feeder cable parallel equipment. The Delaware-based supplier built the new warehouse and office space, which CEO George Vorwick said is part of the companies' long-term strategy of expanding its service organization and geographic footprint.

The number of job openings at the end of January stood at 8.86 million, according to the Labor Department's Job Openings and Labor Turnover Survey. Hiring declined by 100,000 to 5.69 million, while the number of workers quitting jobs, 3.38 million, was the lowest since January 2021. Roughly 1.45 openings existed for each unemployed person in January, slightly more than the previous month.

Trucking parts and labor expenses dropped 1.4% during the fourth quarter of 2023 following a 2.1% increase the prior quarter, according to the American Trucking Associations Technology & Maintenance Council and Decisiv. In a release, Decisiv CEO Dick Hyatt said there's still an "industry-wide challenge to find technicians, which is increasing labor costs for fleets and service providers," but noted quarterly and annual parts cost decreases "is bringing some welcome relief."

Mexico's 18 major ports handled 20% more volume during the fourth quarter than the same period in 2023 with the movement of 728,116 20-foot equivalent units, according to Mexico's naval ministry. Siddharth Priyesh, CrimsonLogic vice president of the Americas and Caribbean, attributed much of the growth to a rise in nearshoring among foreign manufacturers.

Business-to-business leaders share their thoughts on how B2B marketing should evolve, including Earnest Agency's Chrissie Smith, who says, "The dream for me is that marketing within B2B organizations can be seen as a growth driver, not a cost base." Transmission's Vanessa Cheal notes, "[W]e need to keep flying the flag for brand building; to keep on pushing how important brand is," while George P. Johnson's Sarah Robertson wants B2B "brands to be brave; to try new approaches; to start with big ideas."

The Securities and Exchange Commission has voted 3-2 in favor of a climate disclosure rule for public companies that differs in key aspects from the original proposal. The final version omits a provision that would have required companies to report on Scope 3 emissions, which occur within a business' supply chain. The final rule also eases Scope 1 and Scope 2 disclosure requirements, meaning businesses have to report these emissions only when they are material to investors.

Adaptive thinkers seek to learn more, have a growth mindset and are flexible and open-minded, writes Karim Morgan Nehdi, the CEO of Herrmann, who offers four ways to build a team with those characteristics, including teaching them how to handle ambiguity, encouraging self-reflection and offering continuous learning opportunities. "With greater self-awareness, your team gains a better sense of their strengths and values -- and can adjust their behaviors accordingly," Nehdi notes.

NAW President and CEO Eric Hoplin issued a statement in response to last night's State of the Union Address, in which President Biden called for raising taxes on corporations. "The President continues to depict businesses as adversaries rather than partners in advancing the American economy," Hoplin said, calling for tax relief in favor of additional burdens on businesses. "The resilience of America's business community, especially our supply chain companies at NAW, should be celebrated and supported rather than penalized."

The National Association of Wholesaler-Distributors repeatedly expressed concern about the Securities and Exchange Commission's climate disclosure rule over the last two years. NAW President and CEO Eric Hoplin acknowledged the SEC's responsiveness and necessary revisions, notably the elimination of burdensome Scope 3 provisions, but noted hurdles remain. "The final rule continues to present potential adverse effects on small and family-owned businesses," Hoplin said. "Additionally, the compliance burden on publicly traded companies further compounds complexities for wholesaler-distributors, who serve as the cornerstone of our nation's supply chain."

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