Warehouse giant Prologis and the American Bureau of Shipping will anchor a $200 million venture-capital fund betting on a U.S. revival in maritime and logistics, the WSJ Logistics Report’s Paul Berger writes.

The fund will tap in to growing government and private sector interest in supply-chain efficiency, port logistics and the broader maritime industry, said Marina Hadjipateras, a founder and managing partner of VC firm TMV. The fund launch comes as the Trump administration and a bipartisan coalition in Congress push for tax incentives and new revenue streams to spark U.S. maritime investment.

The fund will focus on commercial and dual-use technologies in automation, robotics and artificial intelligence that improve supply-chain efficiency, transportation and the maritime industrial base, Hadjipateras said. It will also look at energy and clean-fuels investments in areas such as battery-electric, ammonia- and nuclear-powered vessels.

Stellantis will expand its joint venture with Leapmotor, building the Chinese automaker’s models in Spain to use vacant European factories, the Journal’s Ryan Felton and Christopher Otts write.

The plan, part of the Jeep maker’s $70 billion turnaround strategy, is aimed at keeping fixed costs down and taking advantage of Chinese EV know-how. The deal reflects a new way of thinking for the automotive industry. Faced with losing ground to fast-growing, technologically advanced and cheaper Chinese upstarts around the world, some automakers are choosing to join with them instead of trying to beat them.

Stellantis also announced plans to form a similarly structured JV with state-owned Chinese automaker Dongfeng. In that deal, Dongfeng would assemble vehicles at a Stellantis factory in France.

• Toyota Motor plans to further reduce output outside of Japan by about 83,000 vehicles because of the continued blockage of the Strait of Hormuz. (Nikkei Asia)

Higher gasoline prices and the standoff in the Mideast helped push consumer sentiment to a new all-time low in May, with rising anxiety about future inflation, according to the University of Michigan’s monthly survey.

The survey’s headline index declined to 44.8 this month, from April’s 49.8, the WSJ’s Matt Grossman writes. The April reading was itself the lowest final number ever recorded to that point. An initial May reading published earlier this month came in at 48.2.

Consumers’ grim mood spanned people from both political parties and reflected concerns about high living costs and the prospect of more inflation ahead, according to the survey’s director, Joanne Hsu.

• Prices for goods made in Canada rose 2% in April, marking the fourth consecutive monthly increase. (WSJ)
• Japan’s consumer prices, excluding fresh food, climbed 1.4% in April. (WSJ)
• The forecast for German consumer confidence improved slightly for June, ending a downward trend. (WSJ)
• German business sentiment marginally rebounded in May, remaining near multiyear lows due to an energy shock. (WSJ)

• World trade flows continued to increase at a rapid pace in the first three months of the year, boosted by the boom in AI-related investment. (WSJ)
• The U.S. sank two Revolutionary Guard ships it said were attempting to lay mines in the Strait of Hormuz. (WSJ)
• The European Union and Mexico signed a renewed trade agreement as the bloc continues to forge partnerships with other countries amid tensions with the U.S. (WSJ)
• Mexico registered a $4.52 billion trade surplus in April, with exports rising 32.6% and imports increasing 24.1% from a year earlier. (WSJ)
• China has removed tariffs on goods from 53 of 54 African nations since May 1, aiming to boost trade and influence across the continent. (WSJ)
• The U.S. energy-storage industry installed 9.7 gigawatt-hours of new capacity between January and March, a record for the first quarter. (WSJ)
• The head of store operations for Walmart U.S. and the chief operating officer of Sam’s Club are leaving Walmart, according to people familiar with the matter. (WSJ)
• Uber made a $11.60 billion takeover approach for Delivery Hero. (WSJ)
• Huawei Technologies said it has developed a workaround that will allow it to make chips on par with leading products manufactured by Intel and other top global companies by 2031. (WSJ)
• U.S. ports will need $6.7 billion of investment in cargo equipment over the next five years to maintain efficiency and competitiveness, according to a National Association of Waterfront Employers survey. (DC Velocity)
• The State Department restarted issuing work visas to foreign commercial truck drivers, with stricter screening and vetting processes. (Transport Topics)
• One person died and at least 36 people, mostly firefighters, were injured by a fire and explosions at a Staten Island shipyard. (Associated Press)
• Died: Toshifumi Suzuki, 93, former Seven & i chairman and CEO who transformed 7-Eleven into a global phenomenon (WSJ)

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.