OpenAI has turned its for-profit subsidiary into a public benefit corporation,
opening the door for more fundraising and a possible IPO.
This is something investors were really,
really hungry for and were sort of making some of their fundraising continue upon them being able to do.
Plus, Texas is suing the company that makes Tylenol, alleging that it hid autism risks.
And Mexico gets drawn into the Trump administration's campaign against transnational criminal groups.
It's Tuesday, October 28th.
I'm Alex Ocilov 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.
We're exclusively reporting that the US would roll back some tariffs on China
if Beijing cracks down on the export of chemicals that produce fentanyl.
Under a trade framework that President Trump and Chinese leader Xi Jinping are set to discuss Thursday.
That's according to people familiar with the talks.
The expected agreements are subject to change and dependent on the meeting of the two leaders.
WSJ Trade and Economic Policy reporter Gavin Bade joins me now with more.
Gavin, what do we know about this deal as it exists right now?
Broad strokes mostly and not many details.
We're looking at a reduction of 10% in the tariffs that the US has applied to China.
So as a reminder, Trump put 20% tariffs on China in response to its role in the fentanyl trade.