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President Donald Trump’s vow to impose a 5% tariff on Mexican goods comes just in time to hit exports from a $1 billion BMW AG factory that opens in the country next week.

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%.

Tesla Inc. started taking orders for Model 3 cars to be made in China, lowering prices for the vehicle as it seeks to double down on a market it expects to drive future growth and revenue.

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.

FedEx Corp. announced the FedEx Ground unit will offer deliveries seven days a week for the majority of the U.S. population beginning in January to further serve the fast-growing e-commerce market.

China, the world’s largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter.

The United States has been rocked by 500 tornadoes in the past 30 days with a trapped jet stream in the atmosphere “stuck in neutral,” according to the U.S. Storm Prediction Center.

The U.S. merchandise-trade deficit widened for a second month to the highest level since a record in December as exports dipped.