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China announced a barrage of measures meant to counter the blow to its economy from U.S. President Donald Trump's trade war, as the two sides prepared for talks later this week.

The company now expects to sell 40,000 to 46,000 battery-powered pickups, SUVs and delivery vans this year, it said May 6 while reporting first-quarter results.

President Donald Trump indicated that he would strike a friendlier relationship with Canadian Prime Minister Mark Carney than the one he had with Justin Trudeau, whom Trump “didn’t like.”

General Motors on May 5 named Duncan Aldred the new president of the automaker’s North America operations amid tensions between President Donald Trump, Canada and Mexico over tariffs.

Continental AG more than doubled earnings in the first quarter as its car parts unit slashed costs and tire sales bounced back from weaker levels last year.

The U.S. trade deficit widened to a record in March as companies rushed to import products as the Trump administration readied sweeping tariffs.

The automaker expects the duties to reduce 2025 adjusted earnings before interest and taxes by about $1.5 billion on a net basis this year.

China’s Commerce Ministry said May 2 that Beijing is evaluating multiple approaches by the Trump administration for trade talks, but steep tariffs imposed by Washington must go.

A General Motors assembly plant in Canada that makes pickup trucks mostly for export to the U.S. will cut down to two shifts from three because of the “evolving trade environment.”

Small-value packages shipped to the U.S. from China will no longer be exempted from tariffs starting May 2, when President Donald Trump’s move against the de minimis exemption takes effect.