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The retaliation comes as U.S. President Donald Trump signals
his intent to slap tariffs on all Chinese imports if Beijing
does not give in, suggesting a prolonged standoff between the
world's two largest economies.
Daimler will cut development costs of new Mercedes-Benz light vehicles by a significant amount by 2025 and will intensify alliances with rivals as a way to improve margins, said Ola Kaellenius, the company's future CEO, noting the high price for designing and engineering electric vehicles.
The United States increased tariffs Friday on $200 billion in goods from China and threatened to impose more in the most dramatic steps yet to extract trade concessions, with U.S. President Donald Trump saying there¡¯s ¡°no need to rush¡± a deal even though the uncertainty is roiling markets and clouding the global economy.