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The Trump administration threatened retaliation against the European Union in response to efforts to tax American tech companies, singling out prominent firms.

Under the new proposal, tailpipe emissions will have to be reduced by 90% by the middle of the next decade compared with the current goal of a 100% reduction.

The terminations are Luxembourg's largest in at least two decades and a speed bump in the mutually beneficial relationship between Amazon and the tiny country.

“We can and we must pursue our climatic goal in an effective way, while not killing our competitiveness in the meanwhile since there is nothing green in an industrial desert,” EU leaders said.

Europe’s auto industry is preparing for production disruption within days because of China’s export restrictions on semiconductors made by Nexperia. The U.S. is likely to be affected too.

Stellantis reaffirmed its commitment to its Italian manufacturing operations, making a pledge to hire 400 additional workers to bolster production at its Mirafiori plant in Turin.

Every one of the countries identified by the U.S. Department of Commerce Foreign Trade Division as a top supplier by export value of trucks to the U.S. warned the agency against the levies.

President Donald Trump’s new tariffs on pharmaceutical imports will not apply to countries with negotiated agreements with the U.S. that contain provisions on drugs.

Stellantis NV will temporarily halt production at some of its plants in Europe amid lagging demand for models including the Alfa Romeo Tonale sport utility vehicle.

Porsche and parent Volkswagen cut their outlook for the year, citing the sports-car maker taking a $2.2 billion hit to operating profit linked to pushing back the introduction of new EVs.