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FRANKFURT, Germany — Volkswagen and its employee representatives said they reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs through 2030.

The WARN Act or, Worker Adjustment and Retraining Notification Act is a U.S. law requiring employers with 100 or more full-time employees to provide 60 days notice before mass layoffs or plant closures.

The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier.

The final December sentiment index increased to 74 from 71.8 last month, according to the University of Michigan. The median estimate in a Bloomberg survey called for a reading of 74.2.

The spending bill would keep the government open through March 14, provide disaster relief and give billions of dollars in economic aid to farmers. It will not suspend the national debt limit.

Shipments of lithium-ion batteries to the U.S. jumped by 27% to $1.9 billion in November from a year earlier. The export tax rebate for batteries was cut to 9% from 13%.

Prior pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets in 2025.

Trump said on Truth Social that if the European Union does not up its imports, "it is TARIFFS all the way!!!" The U.S. goods and services trade deficit with the EU was $131.3 billion in 2022.

President Joe Biden recently signed into law Congress’ annual defense policy bill, which includes trucking-centric provisions.