The U.S. International Trade Commission (ITC) has opened an investigation into automotive rules of origin under the United States-Mexico-Canada trade agreement (USMCA) to assess “impact on the U.S. economy,” competitiveness, and how the rules fit “recent technology changes.” USMCA requires 75% North American content for duty-free U.S. access, plus labor value rules requiring 40% of…

Edison International has announced a 40% reduction in executive bonuses in the light of the severe consequences of a Los Angeles-area wildfire that resulted in 19 fatalities and significant damage to over 10,000 structures. The decision comes after the company faced scrutiny for its role in the Eaton Fire, which lasted nearly four weeks in…

Eli Lilly plans to transform India into a key hub for its global supply chain, backed by a $1bn investment in contract manufacturing, as the sales of its weight-loss drug Mounjaro continue to surge. The company has introduced plans to export locally produced medications worldwide while also bringing other products, like the Alzheimer’s drug donanemab,…

Ford Motor CEO Jim Farley spoke with senior Trump administration officials last month about a potential framework in which Chinese automakers could build cars in America while offering some protection for domestic companies, according to people familiar with the discussions. The automaker’s talks generally about China with the administration have consistently emphasized “the need to…

Bloomberg reports that John Hurley, the Treasury’s undersecretary for terrorism and financial intelligence, is set to depart the role amid friction with Treasury Secretary Scott Bessent, according to people familiar with the matter. The expected departure of the Trump administration’s top sanctions official comes as US sanctions play an increasingly pivotal role for international investors,…

The Financial Times reports that President Donald Trump is planning to scale back some tariffs on steel and aluminum goods, as he battles an affordability crisis that has sapped his approval ratings ahead of November’s midterm elections. Sources close to the White House say that a review of the list of products affected by the…