U.S. imports rose faster than exports in March, pushing the U.S. trade deficit up 4.3% from February to $60.3 billion, according to Commerce Department data. Imports totaled $381.2 billion, up 2.3% from February, while exports were $320.9 billion, up 2%.

As the war in Iran pinched off flows of crude and oil products from the Middle East, the U.S. shipped more oil overseas. Exports of crude oil grew by $2.8 billion, and exports of other petroleum products rose by $1.7 billion. Exports of U.S. food and agricultural feeds also grew by just over $1 billion.

But imports expanded by even more. Imports of cars and car parts rose by $3.6 billion. The U.S. also imported more consumer goods and capital goods than in February.

• Canada recorded a merchandise-trade surplus of the equivalent of about $1.31 billion in March, its first in six months, driven by energy and gold exports. (WSJ)
• China aims to domestically produce 70% of the silicon wafers used by its chipmakers by this year. (Nikkei Asia)

President Trump said late Tuesday he agreed to pause for a short period the U.S. operation to guide commercial ships through the Strait of Hormuz, an effort called “Project Freedom.” He said “Great Progress” had been made toward an agreement with Iran, and that the U.S. blockade of Iranian ports will continue.

"Project Freedom" came with risks to American personnel and to commercial ships, most of which are still refusing to transit the waterway without clear guarantees that Iran won’t attack them.

The WSJ’s Jared Malsin writes that about 130 ships transited the waterway each day before the war. Only six crossed through on Monday, the first day of the new U.S. initiative, according to a count by S&P Global Market Intelligence, while a single ship crossed by Tuesday afternoon.

The shipping industry faces reputational risk in braving a transit, not just the physical risk of harm to crew and damage or destruction to ships. And for commercial operators, uncertainty about how the new transit plan should work is a deterrent, as well.

• Iran introduced the “Persian Gulf Strait Authority” to regulate maritime transit through the Strait of Hormuz, under which vessels will receive guidance from an official email address outlining the rules for transit. (WSJ)
• Seafarers trapped in the Persian Gulf said that intense electronic interference in the region in recent hours had rendered their onboard navigation systems useless. (WSJ)
• China escalated its fight against the U.S. over Iranian oil, defying American sanctions in a show of resistance ahead of President Trump’s visit to Beijing planned for next week. (WSJ)

• Sales of new single-family homes in the U.S. rose to 682,000 in March, up 7.4% from February, according to the Census Bureau and the Department of Housing and Urban Development. (WSJ)
• Hiring picked up in March, but the rate of job openings ticked down, according to the Labor Department. (WSJ)
• Rockwell Automation boosted its full-year outlook and said demand in the warehouse-automation, data-center, semiconductor and energy markets all increased in its fiscal second quarter. (WSJ)
• Archer-Daniels-Midland raised its full-year earnings outlook after the Trump administration issued new rules requiring gas and diesel to contain more biofuels. (WSJ)
• Lucid Group said it produced 5,500 vehicles in the first quarter, more than double a year earlier, as the EV maker posted a wider loss. (Dow Jones Newswires)
• Nissan Motor plans to cut 900 jobs in Europe and restructure operations to reduce costs. (WSJ)
• Volvo Car posted a 10% fall in quarterly sales as competition in China ramps up and U.S. consumer sentiment remains weak. (WSJ)
• First-quarter spending by American shippers rose 12.9% from the last three months of 2025, while shipment volume slipped 0.3%, according to the U.S. Bank Freight Payment Index.
• Shippers in the U.S. in the first quarter saved a record 30.6% on spot market freight and 26.2% on contract loads using intermodal instead of long-haul trucking as truckload spot rates rose. (Journal of Commerce)
• Self-driving truck tech company Aurora Innovation said its platform will be used to steer a vehicle from Volvo Autonomous Solutions between Dallas and Oklahoma City. (DC Velocity)
• E-commerce airfreight volumes out of China fell 6% year-over-year in March, the first drop since June 2023, according to Aevean. (Air Cargo News)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.