The Senate has confirmed former Sen. David Perdue as ambassador to China, just as the U.S. and China are locked in a tariff showdown.

The US Senate on Tuesday confirmed President Donald Trump's political ally David Perdue to be ambassador to China, a key trade partner that the Republican president has hit with punishing tariffs.Since taking office in January,

The Senate confirmed former Republican Georgia Sen. David Perdue as the new U.S. ambassador to China. Perdue, who has business experience in Asia, including China, will be on the front lines in Beijing of the fraught U.

Porsche's margins plunged in the first quarter, the sportscar maker said on Tuesday, forcing it to cut its outlook due to weakness in its key market China, a slowing shift to electric cars and U.S. tariffs that are disrupting the global car industry.

Porsche AG expects its profit margin to slip into single digits this year, with the luxury-car maker warning about US tariffs and higher costs from weak electric-vehicle adoption.

Porsche cut its 2025 revenue and profit margin forecasts, citing weak demand in China, rising supply chain costs, and U.S. tariffs disrupting the global auto market. The German luxury sports car maker now expects