Tuesday, 19 June 2018 14:54

Tariff talk ramping up; CEO of Audi arrested after emissions probe

Written by 

STATEWIDE - Escalating tariff talk and some new Cadillac models are among the happenings in Tuesday's business news.

There is talk of new tariffs on China. President Trump now is talking about imposing tariffs on $200 billion worth of Chinese imports. He said in a statement that if China retaliates, he will call for even more tariffs.

 

The tough talk on tariffs appears to be having an effect on construction in the United States. The new Sentiment Index from the National Association of Home Builders is down slightly as builders are concerned about higher costs for things like lumber from Canada.

 

The investigation on car emissions tests has led to the arrest of the CEO of Audi. Audi is the luxury brand of Volkswagen. So far, the investigation has cost the company $30 billion and several employees are facing charges.

 

Meanwhile, General Motors has some big changes coming for Cadillac. The company now says it will completely get rid of three of the sedans in its lineup and replace them with two new ones by 2021. GM also is pumping $175 million into a factory in Lansing, Michigan.