Tariffs Are About to Separate Retail’s Winners and Losers

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• 00:03

  Republicans voice national security concerns over Qatar's proposed gifting of a luxury jet to President Trump.

• 00:11

  Plus, the US scraps a Biden-era rule limiting AI chip exports to other countries.

• 00:16

  And we'll hear why a 90-day tariff rollback isn't delivering the long-term certainty retailers are looking for.

• 00:24

  If we're a global player,

• 00:25

  do we need to have multiple supply chains effectively servicing different geographies?

• 00:31

  All that is incremental cost.

• 00:33

  So I think we're heading into a higher product cost environment under pretty much every scenario.

• 00:39

  It's Wednesday, May 14th.

• 00:41

  I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News,

• 00:45

  the top headlines and business stories moving your world today.

• 00:55

  President Trump met this morning with the new president of Syria,

• 00:59

  marking a major turning point in global recognition of the country's leadership.

• 01:03

  On the sidelines of a regional summit in Saudi Arabia,

• 01:06

  a U.S. official said that Trump spoke with Ahmed al-Shara,

• 01:10

  a one-time insurgent aligned with Islamic State and al-Qaeda in Iraq and who is still designated by Washington as a terrorist.

• 01:18

  Al-Shara led the overthrow of longtime dictator Bashar al-Assad in December.

• 01:24

  A U.S. spokesman said it was the first meeting between the presidents of the U.S. and Syria in 25 years,

• 01:30

  which came after Trump announced he would lift crippling economic sanctions on the war-torn country

• 01:36

  as he kicked off his four-day Middle East tour in Saudi Arabia.

• 01:40

  Meanwhile,

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