One of two new Ford-backed battery plants in Kentucky sits unused. The other will soon be shared with rival Nissan as the U.S. auto giant ratchets back its electric-vehicle ambitions.

The WSJ’s Christopher Otts writes that Ford’s latest retrenchment has upended multibillion-dollar investments in the EV supply chain. The U.S. auto giant lost $5 billion on its electric cars and trucks in 2024 and projects a similar loss this year. The pullback opens an opportunity for Nissan to help cut some of its exposure to tariffs by making batteries in the U.S. The Kentucky plants are joint ventures with South Korean manufacturer SK On, which said it hasn’t yet decided exactly where it will make batteries for Nissan. The struggling Japanese automaker plans to build SUVs at a plant in Canton, Miss. With U.S. EV sales falling, other automakers are cooling on battery investments, too. General Motors sold a stake in a plant under construction in Michigan, and another plant in Tennessee is running at less than half its planned capacity. Another in Ohio is running at about 80%, GM says.

Ford’s joint venture with SK On got a $9.63 billion Energy Department loan for three battery plants–two in Kentucky and one in Tennessee. Plans at the Tennessee plant are unchanged, Ford says.

Target joined many of its corporate peers in cutting its financial forecast for the year, citing uncertainty about tariffs and consumer demand.

The Journal’s Sarah Nassauer writes that the forecast cut came as the big retailer posted a 3.8% drop in quarterly comparable sales, which were dragged down in part by a boycott by shoppers angered by the company ending some diversity programs. About a week after rival Walmart said it would raise prices as tariffs drive up costs, Target said it aimed to keep price hikes as small as possible. It will work to offset tariff-related costs by negotiating with suppliers, diversifying its offerings and adjusting the timing of orders. Skittish consumers looking for deals are helping other retailers, with T.J. Maxx parent TJX posting a 3% rise in comparable sales in the latest quarter. Home-improvement retailer Lowe’s, meanwhile, warned that demand for discretionary products would stay soft this year, though a slip in first-quarter same-store sales wasn’t as steep as expected.

• Walmart plans to cut around 1,500 jobs in a restructuring aimed at trimming its expenses and speeding up decision-making. (WSJ)

Japan’s exports to the U.S. fell in April for the first time in four months as the effects of higher tariffs started to kick in. (WSJ)

South Korea's exports to the U.S. are poised to shrink for a second straight month in May, as tariffs weigh on shipments of vehicles and other goods. (WSJ)

The U.K.’s annual rate of inflation jumped above the central bank’s target in April as businesses raised prices in response to higher payroll taxes and increased utility charges. (WSJ)

Critical mineral supplies are increasingly concentrated in a handful of countries, with the threat of disruption growing as export bans multiply, the International Energy Agency said. (WSJ)

Nvidia’s CEO said U.S. export controls limiting the sale of advanced chips to China had failed and were galvanizing Beijing’s own AI efforts. (WSJ)

Crusoe’s Texas data center for OpenAI secured $11.6 billion in funding to expand from two to eight buildings. (WSJ)

Super Micro Computer plans to expand server production in the U.S. as global demand for AI accelerates. (WSJ)

Boeing has overhauled two internal systems for employees to flag potential safety issues and manufacturing problems. (WSJ)

The Federal Aviation Administration ordered airlines to throttle back flying at Newark airport to help relieve congestion and reduce delays. (WSJ)

The European Union launched an antidumping probe into tires for cars and light trucks imported from China. (WSJ)

The Federal Maritime Commission is probing whether foreign ship registrations known as flags of convenience are unfavorable to U.S. trade. (Maritime Executive)

The ports of Long Beach and Los Angeles issued a request for proposals to short-line railroad operators to provide services within the ports. (American Journal of Transportation)

Hapag-Lloyd might struggle to accommodate customers as China-to-U.S. bookings have surged more than 50% compared to the period before tariffs, the German carrier’s CEO said. (Shipping Watch)

Less-than-truckload carrier Pitt Ohio is opening its first marine terminal in Norfolk, Va., a 15,000-square-foot, 37-dock-door facility. (Journal of Commerce)

Brazil suspended chicken exports to China, Europe, Mexico and other top destinations after bird flu was detected at a poultry farm. (Bloomberg)

Export prices for U.S.-bound Japanese vehicles fell in April despite new tariffs. (Nikkei Asia)

Norwegian shipping company Odfjell said a trial of suction sails on a tanker achieved 15%-to-20% fuel savings on a trans-Atlantic voyage. (Lloyd’s List)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.