FEMA scraps its new hurricane plan as storm season kicks off.
Plus the OECD forecasts the U.S. and global economies will lose steam as tariff-related turmoil drags on.
And we'll look at China's trade negotiating team for clues about the likely hardball talks to come.
They believe they're in a better position to drive a harder bargain.
If the U.S. wants China to buy more stuff from the United States, the Chinese would argue,
OK, you need to sell us stuff we really want, such as semiconductors.
It's Tuesday, June 3rd.
I'm Luke Vargas for The Wall Street Journal.
And here is the AM edition of What's News,
the top headlines and business stories moving your world today.
Global growth is set to slow this year and next as U.S. tariffs introduce widespread economic uncertainty and risk leading to higher for longer inflation.
That's according to the Organization for Economic Cooperation and Development, or OECD,
which projected the U.S. could be among the worst-hit economies,
with 2025 growth of just 1.6 percent,
a sharp deceleration from a 3.3 percent forecast last year,
and a March projection of 2.2 percent.
OECD Secretary General Matthias Korman.
The Mayan headwinds are lower export growth as a result of retaliatory measures from some trading partners,
the impact of high policy uncertainty, and a marked slowdown in net immigration.
According to the OECD forecast, U.S. inflation could reach close to 4% this year,