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Volkswagen AG’s main car brand will let lapse as many as 4,000 general and administrative jobs while adding at least 2,000 IT positions over the next four years, avoiding layoffs at its German factories as it negotiates a major shift toward electrification and self-driving cars.

The largest U.S. automaker can’t get a pass on tariffs snagging one of its models. The Trump administration refused to grant General Motors Co. an exclusion for its Chinese-built Buick Envision SUV, keeping in place a 25% duty on the import.

FedEx Corp. shares dropped as investors assessed the impact of a Chinese probe that puts the delivery company in the middle of an escalating trade conflict with the U.S.

President Donald Trump’s intensifying trade war with China dented air cargo traffic even before FedEx Corp. got dragged into the brawl, as companies worldwide reconfigure their supply chains in the face of increasing tariffs.

U.S. automakers and parts suppliers were among the sectors hit hardest in early trading May 31 after President Donald Trump’s threat to impose a tariff of up to 25% on Mexican goods. General Motors Co. and Ford Motor Co. each fell more than 3%.

The U.S. National Pork Producers Council urged President Donald Trump to reverse his decision to impose new tariffs on Mexico over illegal immigration.

President Donald Trump said that he would impose a 5% tariff on Mexican goods until that country stops immigrants from entering the U.S. illegally.

China, the world’s largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter.

The United States has been rocked by 500 tornadoes in the past 30 days with a trapped jet stream in the atmosphere “stuck in neutral,” according to the U.S. Storm Prediction Center.

The U.S. merchandise-trade deficit widened for a second month to the highest level since a record in December as exports dipped.