Fiat Chrysler Automobiles said in a statement it's submitted a proposal for a 50-50 merger with Groupe Renault, with a board of governors holding a majority of independent directors.

Why it matters: The group would fall under a Dutch parent company be considered the third largest car manufacturer in the world, producing estimated sales of 8.7 million vehicles a year, per CNBC.

President Trump told a Tokyo news conference Monday he supports Japanese Prime Minister Shinzo Abe's efforts to potentially open a dialogue between the U.S. and Iran.

"I know that the prime minister and Japan have a very good relationship with Iran so we’ll see what happens. The prime minister’s already spoken to me about that and I do believe that Iran would like to talk — and if they’d like to talk, we’d like to talk also. We’ll see what happens ... nobody wants to see terrible things happen, especially me."