President Trump and Vladimir Putin meet in Alaska,
beginning their much-awaited summit about Ukraine.
Plus, why economists suspect inflation isn't surging despite high tariffs.
The real effective tariff rate is significantly lower than what they would have thought based on just the announcement of the headline tariffs and all the averages.
And how the relaxation of fuel economy rules is making EV company Rivian face a $100 million hole.
It's Friday, August 15th.
I'm Alex Osola for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
President Trump and Russian President Vladimir Putin are meeting in Alaska.
their first face-to-face meeting in several years,
on the agenda what it will take to end the war in Ukraine.
Both leaders arrived this morning local time at Joint Base Elmendorf-Richardson in Anchorage.
Trump met Putin on the tarmac to welcome him, and the two shook hands.
The summit, if successful, could pave the way for future talks between Putin,
Trump and Ukrainian President Volodymyr Zelensky,
to end more than three years of fighting that has claimed tens of thousands of lives.
Though it was initially supposed to be a one-on-one between Trump and Putin,
White House Press Secretary Caroline Leavitt announced shortly before the meeting that it would now include two advisers for each leader.
For Trump, that's Secretary of State Marco Rubio and Special Envoy Steve Witkoff.