Chinese businesses view tariff pause with caution and uncertainty

BANGKOK (AP) — While U.S. President Donald Trump has talked of victory after reaching a weekend deal with China to reduce the sky-high tariffs levied on each others’ goods, businesses in China are reacting to the temporary deal with a cautious wait and see approach. The U.S. and China have cut the tariffs levied on each other in April, with the U.S. cutting the 145% tax Trump imposed last month to 30%. China agreed to lower its tariff rate on U.S. goods to 10% from 125%. Businesses like one kitchen utensil factory were eager to get back to work, going back into production for American clients. “But it is still possible the tariff policies will change again, resulting in no orders from our American clients,” said one sales manager.

Newark problems and recent crashes put focus on air traffic controller shortage and aging equipment

The recent chronic delays and cancellations at New Jersey’s largest airport have highlighted the shortage of air traffic controllers and the aging equipment they use, which President Donald Trump's administration wants to replace. The Federal Aviation Administration is working on a short-term fix to the problems at the Newark airport that includes technical repairs and cutting flights while dealing with a shortage of controllers. But even before those problems, aviation was already in the spotlight ever since the deadly midair collision in January. That investigation continues while the U.S. Department of Transportation tries to make progress on the long-standing issues of not having enough air traffic controllers and relying on outdated equipment.

Trump appeals for Qatar's help in persuading Iran to give up its nuclear program

DOHA, Qatar (AP) — President Donald Trump is urging Qatar to use its influence over Iran to persuade the country’s leadership to reach an agreement with the U.S. over its rapidly advancing nuclear program. Trump is visiting Qatar as part of a three-country Mideast swing. He made the appeal during a state dinner held Wednesday in his honor by Qatar’s emir, Sheikh Tamim bin Hamad Al Thani. Trump, who also visited Saudi Arabia this week, will wrap up his three-country Mideast tour with a visit to the United Arab Emirates. While in Riyadh on Wednesday, Trump met with Syrian President Ahmad al-Sharaa, a one-time insurgent leader who fought against the U.S. in Iraq.

Divisions emerge among House Republicans over how much to cut taxes and Medicaid in Trump's bill

WASHINGTON (AP) — There were cheers when Republicans on the House Ways and Means Committee signed off on the GOP tax breaks bill after a round-the-clock session that pushed President Donald Trump’s package past overwhelming Democratic opposition. But there's still more work to do. Speaker Mike Johnson is trying to resolve outstanding problems with the bill. Opposition is mounting from various corners of his majority. That includes conservatives who want steeper cuts to Medicaid, and lawmakers from New York, New Jersey and California who want a bigger state-and-local tax deduction. Democrats say the package would help the wealthy at the expense of health care, food aid and other programs. The Agriculture Committee wrapped up its work on food stamp cuts late Wednesday.

World shares are mostly lower after a mixed session on Wall Street

World shares are mostly lower after U.S. stocks drifted to a mixed close on Wall Street. U.S. futures slipped and oil prices fell about $2 a barrel. China moved to reverse some of its “non-tariff” measures against the U.S. as agreed with Washington in their temporary trade war cease-fire. On Wednesday, the S&P 500 edged up 0.1% as most stocks in the index lost ground. Gains for some technology companies like Nvidia helped pull the index higher. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite rose 0.7%. The U.S. was due to report retail sales for April later Thursday.

The chair of Tesla sold stock worth $230 million while profits at Elon Musk's carmaker plunged

NEW YORK (AP) — The chair of Tesla sold more than $230 million in company stock since Elon Musk’s endorsement of Donald Trump alienated car buyers and dragged profits lower. That is according to filings reviewed by The Associated Press. More than half of that cash haul from Robyn Denholm's selling came in the first four months of this year as Tesla stock plunged by a third. It’s not clear why Denholm decided to sell. She unloaded the stock according to a pre-determined selling schedule to avoid running afoul of insider trading rules. The selling plan was filed on July 25, the day Musk endorsed Trump for president.

Boeing, trying to emerge from one of company's most difficult eras, is having a pretty good week

WASHINGTON (AP) — Boeing has secured a pair of major orders in the Middle East during a visit to the region by President Donald Trump. The American aerospace manufacturer confirmed a $96 billion order from Qatar Wednesday, one day after announcing an order from a company in Saudi Arabia for 20 737-8 jets and options for 10 additional aircraft. The Qatar deal, which includes Boeing’s 787 and 777X jets, is the biggest order for 787s and wide body jets in Boeing’s history. It has been a particularly good week for Boeing. According to media reports, China lifted a ban on its airlines taking deliveries of Boeing planes earlier this week as part of Monday’s trade truce with the U.S.

EPA announces rollback for some Biden-era limits on 'forever chemicals' in drinking water

The Environmental Protection Agency says it will roll back limits on several types of what are known as forever chemicals in drinking water. The agency, however, will keep limits on the two most common types, called PFOA and PFOS, although it will offer a two-year deadline extension for utilities to comply. They now have until 2031. The agency says the changes will help protect Americans while giving water systems common sense flexibility. Environmental groups say the development shows the agency is abandoning common sense clean water rules.

Stocks end mixed on Wall Street, holding on to most of the gains they made earlier in the week

Stocks drifted to a mixed close on Wall Street, holding on to most of the gains they made earlier in the week after the U.S. and China declared a temporary cease-fire in their trade war. The S&P 500 edged up 0.1% Wednesday. Most stocks in the index lost ground, but solid gains for several heavyweight technology companies like Nvidia helped pull the index higher. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite rose 0.7%. American Eagle Outfitters sank 6.4% after becoming the latest company to pull its financial forecasts. Treasury yields rose in the bond market.

Patricia Clarkson on playing her icon Lilly Ledbetter and the political moment greeting the movie

NEW YORK (AP) — Patricia Clarkson stars in the movie “Lilly,” a biopic about former Alabama factory worker Lilly Ledbetter who became an equal pay icon. The film, directed by Rachel Feldman, climaxes at the dawn of the Obama era with the passage of the 2009 the landmark Lilly Ledbetter Fair Pay Act. Today, Ledbetter's biggest champions are out of power, and at least one of them is a target of President Donald Trump's shake-up of civil rights institutions. In an interview with The Associated Press, Clarkson says the current political moment is a good time to draw audiences to Ledbetter’s story.