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The Latest on the tariffs standoff between the United States and China as trade talks are underway in Washington (all times local): 12:40 p.m. China's government says it will take "necessary countermeasures" in response to President Donald Trump's latest tariff hike on Chinese imports but gave no details of possible retaliation.

President Donald Trump's increased tariffs on $200 billion in Chinese imports took effect as of 12:01 Eastern time Friday, escalating tensions with Beijing.

A federal judge has ruled that a lawsuit filed by the United Auto Workers against General Motors over the closing of three plants should be heard in Ohio.

Japanese automaker Toyota and electronics maker Panasonic are forming a joint venture combining their housing businesses in Japan.

Lordstown, Ohio Mayor Arno Hill is hopeful the sale of the GM plant will revitalize the region's economy.

General Motors plans to sell its shuttered factory in Lordstown, Ohio, to a company that builds electric trucks.

The move could appease critics who blasted the carmaker for selling the firm and shedding thousands of jobs.

A number of automakers have offered free maintenance programs for over a decade as a way to sweeten the deal on a car lease or purchase.

Japan's top automaker Toyota is reporting a 4% dip in profit for January-March after vehicle sales fell in North America.

The funding puts the overall valuation for Cruise at $19 billion.

Volkswagen's Porsche division says it has agreed with prosecutors to pay a 535 million euro ($598 million) fine for negligent oversight for installing engines that violated emissions norms.

Automaker Ferrari says its profits rose in the first quarter as demand for its luxury sports cars grew strongly, particularly in China.

German automaker BMW says its profits fell 74 percent in the first quarter as earnings were hit by a 1.4 billion-euro ($1.6 billion) set-aside for an expected anti-trust penalty from the European Commission and by higher up-front costs for new technology and factories.

U.S. safety regulators are investigating reports that side curtain air bags can inflate for no reason on some Mazda CX-9 large SUVs.