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The U.S. trade deficit narrowed in April as exports and imports tumbled, highlighting the impact of President Donald Trump’s tariffs even before negotiations with China unraveled and he threatened levies on Mexican goods.

Port Tampa Bay completed a $63 million expansion of its Big Bend Channel a year ahead of schedule, port officials said, as the Sunshine State eyes grabbing more freight from shippers while serving a growing distribution corridor in Central Florida.

Republican lawmakers eager to halt a new round of tariffs on Mexican goods next week have spent days urging the Trump administration to negotiate a solution with Mexico’s government.

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.