Auto

China cutting auto import taxes as of July 1

China has announced it will reduce auto import duties effective July 1 following promises to buy more U.S. goods and end restrictions on foreign ownership in the industry.

Porsche ordered to recall 60,000 vehicles in Europe

German authorities have ordered the EU-wide recall of 60,000 Cayenne and Macan vehicles from Volkswagen's Porsche sports car division after finding that the vehicles emitted excessive pollutants due to software that turned down emission controls during driving.