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“To stay competitive, GM will temporarily source these packs from similar suppliers to power our most affordable EV model,” the company said in a statement.

“Our ask of PFG is to simply work together to further understand the merits and opportunities of a potential combination,” US Foods CEO Dave Flitman said.

The shift in fortunes began during President Donald Trump’s trade war with China in his first term, with the initial annual deficits recorded in 2019 and 2020.

Motor fuel taxes fell in three states but rose in 10 others after states on July 1 either recalculated their annual rates or adopted legislation to pay for highway infrastructure.

“The real question everybody in the industry is asking is whether there will be a component tariff, where the chips in a device would require some sort of separate tariff calculation.”

Toyota’s estimate dwarfs recent forecasts from global heavyweights as the auto industry contends with fast-changing policies that are seeing costs balloon.

North American Class 8 truck orders continued to trend below prior-year results by slipping nearly 2% in July, according to ACT Research.

The deal includes Northvolt’s flagship factory and a research and development facility, both in Sweden, and the site of a future factory in Germany.

Legislation that aims to establish a nationwide policy framework for autonomous commercial vehicles was recently introduced in the U.S. House of Representatives.

The two companies also will develop four vehicles for Central and South American markets.