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Trump recommits to ‘major border tax’ on foreign-produced U.S. products

President-elect Donald Trump on Wednesday promised a “major border tax” on companies that shift jobs outside the United States, further pressuring American businesses days after Fiat Chrysler Automobiles NV said heavy tariffs could force the company to shutter Mexican plants. Since the Nov. 8 election, Trump has taken to Twitter to call out by name a number of manufacturers with both planned and existing operations outside of the country. Trump, who will be sworn into office on Jan. 20, warned of a “very large border tax” on companies that…

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Trump recommits to ‘major border tax’ on foreign-produced U.S. products

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Volkswagen faces reforms, oversight for three years under U.S. settlement

Volkswagen AG, as part of a $4.3 billion settlement with U.S. regulators, on Wednesday agreed to sweeping reforms, new audits and oversight by an independent monitor for three years to resolve diesel emissions cheating investigations. Under the settlement of charges it installed secret software in U.S. vehicles to allow them to emit up to 40 times legally allowable pollution, the German automaker agreed to change the way it operates in the United States and other countries. VW will separate the jobs of product development and certification …

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Volkswagen faces reforms, oversight for three years under U.S. settlement