The European Union will respond to the new tariffs set to be announced by the United States Wednesday "before the end of April", the French government spokeswoman said after a cabinet meeting.

"There will be two responses. The first, which will take place in mid-April, is a response to the tariffs already decided on steel and aluminium," government spokeswoman Sophie Primas said. "Then, there will be a detailed study, sector by sector, and a European decision should be announced before the end of April, in a coordinated, united, and strong way."

U.S. President Donald Trump said he was placing 25% tariffs on auto imports, a move the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains.

"This will continue to spur growth," Trump told reporters Wednesday. "We'll effectively be charging a 25% tariff."

Prime Minister Nawaf Salam announced Thursday that he did not support the appointment of Karim Souaid as central bank chief for “a host of reasons,” including “keenness on protecting depositors’ rights and preserving the state’s assets.”

Asset manager Karim Souaid was named as Lebanon's new central bank governor on Thursday, receiving 17 out of 24 votes in Cabinet, after Prime Minister Nawaf Salam's opposition to his appointment prevented consensus over the move.

According to Al-Jadeed TV, Souaid received the votes of the ministers of the Lebanese Forces, Hezbollah, the Amal Movement, the Progressive Socialist Party and the Kataeb Party, in addition to the ministers who are close to President Joseph Aoun.

The chief-executive-to-be at money-losing Japanese automaker Nissan is determined to speed up decision-making to come up with models that say Nissan — and really sell.

Ivan Espinosa, 46, chief planning officer and a Mexican with two decades of experience at Nissan Motor Corp., told reporters in embargoed comments for Wednesday that the company's corporate culture is "lacking empathy" and has to change.

Israel's parliament has passed a state budget, a move that shores up Prime Minister Benjamin Netanyahu's governing coalition even as the embattled leader faces mounting public pressure over the war in Gaza and the hostage crisis.

The budget vote was seen as a key test for Netanyahu's coalition, which is made up of ultranationalist and ultra-Orthodox parties that had demanded and largely received hefty allocations for their constituents in exchange for supporting the funding package.

Cabinet is inclined to name Karim Soaid as central bank governor in its session on Thursday, media reports said.

President Donald Trump said Monday he would levy a 25 percent tariff across the board on any country buying oil or gas from Venezuela, as he escalates trade wars with a number of US foes and allies.

"Venezuela has been very hostile to the United States and the Freedoms which we espouse," he wrote on his Truth Social network. "Therefore, any Country that purchases Oil and/or Gas from Venezuela will be forced to pay a Tariff of 25% to the United States on any Trade they do with our Country."

Stocks rose in morning trading Monday as Wall Street tries to navigate through uncertainty amid a trade war. The S&P 500 jumped 1.1%. It is coming off its first winning week after a four-week losing streak. The Dow Jones Industrial Average rose 0.7% and the Nasdaq composite rose 1.5%. Wall Street remains focused on how tariffs could eventually impact inflation, consumer spending and economic growth. Stocks have been riding waves of hope and worry as tariffs are announced, then either implemented or pulled. Genetics testing company 23andme plunged after it announced over the weekend that it had initiated voluntary bankruptcy proceedings.

THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.

Stocks are falling in morning trading and Wall Street is on track for its fifth straight weekly loss. The S&P 500 was down 0.8% Friday. The Dow Jones Industrial Average fell 346 points, or 0.8%, and the Nasdaq composite fell 1%. Stocks have been broadly losing ground for weeks over uncertainty about the direction of the U.S. economy. A trade war between the U.S. and its key trading partners threatens to worsen inflation and hurt both consumers and businesses. Nike fell sharply as tariff and other concerns weighed on its financial forecast for the year. Treasury yields fell in the bond market.

THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.