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As President Trump pivots back to diplomacy after toning down fresh threats to strike Iran,
we'll look at one Gulf ally starting to question the logic of basing American troops on its territory.
They like to have the U.S.
There as a kind of visible deterrent,
although it has to be said that it hasn't quite served that purpose in this conflict since the U.S.
Began the attack.
It has turned it more into a target than a deterrent.
Plus, the U.S.
Steps in to help Japan boost the weakening yen.
And California's proposed billionaire tax gets a backing from the state's Democratic Party.
It's Monday, August 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.
For the first time since the late 90s, Japan and the U.S.
Are intervening to boost the yen.