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China will exempt Tesla Inc's electric vehicles from its purchase tax, the Ministry of Industry and Information Technology (MIIT) said on Friday, a concession made amidst trade tensions with the United States. Tesla sees China as one of its most important, growing markets, and the exemption from a 10% purchase tax could reduce the cost of buying a Tesla by up to 99,000 yuan ($13,957.82), according to a post on Tesla's social media WeChat account.

U.S. President Donald Trump, who is engaged in a trade war with Beijing, said on Friday that the largest U.S. automaker, General Motors Co , should begin moving its operations back to the United States. "General Motors, which was once the Giant of Detroit, is now one of the smallest auto manufacturers there. Now they should start moving back to America again?" Trump said in a post on Twitter.

Uber, Lyft and DoorDash threatened Thursday to spend $90 million on a California ballot measure if they can't reach a deal with unions and lawmakers on legislation that would change the rights of their drivers and other so-called gig workers. "We remain focused on reaching a deal, and are confident about bringing this issue to the voters if necessary," Adrian Durbin, senior director of communications at Lyft, said in a statement. The companies' team-up comes as California lawma