In the wake of President Donald Trump’s plans to impose stiff tariffs on imported steel and aluminum, U.S. steel supplier Zekelman Industries has vowed to grant an annual bonus to its employees.

Executives at Daimler and Volvo question the viability and industrial logic of a plan by their major shareholder, China’s Geely, to form an auto industry alliance to counter “tech invaders.”

Renault and alliance partner Nissan are discussing plans for a closer tie-up in which the Japanese carmaker would acquire the bulk of the French state’s 15 percent Renault holding, Reuters reported.

Last month, the average interest rate on a new-vehicle loan reached its highest level since the third quarter of 2009, as federal rate increases made last year trickled down to vehicle finance, Edmunds said.

The outstanding balance on auto loans linked to suspected synthetic identity fraud more than tripled from 2012 to 2017, according to TransUnion.