The deadline for the submission of "best offers" in US trade negotiations expired on Wednesday without official statements, deepening uncertainty surrounding tariffs and supply chain disruptions. The Switch 2, predominantly manufactured in China and sold in Japan, faces significant market unpredictability in terms of availability and pricing. Meanwhile, escalating political tensions in the US, including President Donald Trump’s recent travel bans on citizens from 12 countries, add complexity to international economic relations. Against this backdrop, Japan is deploying its chief trade negotiator Ryosei Akazawa to Washington, while Germany’s new Chancellor Friedrich Merz is also set to meet Trump, signaling a critical juncture in US trade diplomacy.

India, the world’s third-largest automotive market, has officially enacted a long-awaited electric vehicle (EV) policy aimed at incentivizing global automakers to localize EV production. The policy, which lowers import tariffs for manufacturers that commit to domestic investment, was seen as a direct overture to Tesla Inc. $TSLA. However, India’s federal government confirmed Monday that Tesla has decided not to pursue local EV production, leaving room for competitors such as Mercedes-Benz $MBG.DE and Volkswagen $VOW.DE to gain early-mover advantage in the subcontinent’s burgeoning EV landscape.

General Motors $GM announced a substantial $888 million investment in its Tonawanda, New York engine plant, aimed at boosting production capacity and launching a next-generation V8 engine. This commitment reflects a notable pivot by the Detroit-based automaker amid slower-than-anticipated electric vehicle (EV) market growth and regulatory challenges, signaling a recalibration of product strategy.