U.S. and Chinese trade negotiators wrapped up two days of intensive talks with what Commerce Secretary Howard Lutnick called a “handshake for a framework” to get their trade truce back on track and ease tensions.

The Wall Street Journal’s Max Colchester, Caitlin McCabe and Lingling Wei write that this framework, pending the approval of President Trump and Chinese leader Xi Jinping, would essentially restore the pact to lower tariffs reached last month in Geneva. This deal was premised in part on Beijing’s promise to speed export licenses of rare-earth minerals while the two sides kept talking. A key goal for the U.S. negotiators, led by Treasury Secretary Scott Bessent and Lutnick, was to get China to speed up exports of rare earths and magnets containing them. The Chinese team, led by Vice Premier He Lifeng, a trusted Xi aide, drove a hard bargain by asking the U.S. side to significantly loosen restrictions on the sale of technology and other products to China, according to people familiar with the matter. The lack of announced details may suggest the U.S. side will need Trump’s approval to undo some of the controls Beijing’s representatives asked for.

• A federal appellate court granted the Trump administration’s request to keep new tariffs in effect for now, but agreed to fast-track consideration of the case this summer. (WSJ)
• Economic growth in the U.S. might halve to 1.4% this year because of Trump’s tariffs, while the global economy is set to suffer a more modest, but significant, slowdown, the World Bank said. (WSJ)
• U.S. chip restrictions won’t affect Huawei Technologies, founder Ren Zhengfei said, dismissing concerns that it will be squeezed by export controls. (WSJ)
• China will extend a yearlong probe into pork imports from the European Union, a move seen as a goodwill gesture as Beijing seeks to bolster ties with the bloc amid tensions with the U.S. (WSJ)
• The U.S. and Mexico are nearing a deal to remove Trump’s 50% tariff on steel imports up to a certain volume, according to people familiar with the matter. (Bloomberg)

Some online merchants are scrapping free shipping, while others are requiring customers to spend more to qualify for it as retailers try to offset the steep costs of new tariffs. The WSJ Logistics Report’s Liz Young and Paul Berger write that small businesses selling directly to consumers online are tinkering with their free-shipping thresholds to offset rising expenses without directly raising their prices. The average minimum-order threshold for retailers to offer free shipping has risen to $103 this year from $82 in 2023, according to retail-technology provider Narvar. Amazon’s introduction of free, unlimited two-day shipping with Prime membership in 2005 has trained consumers to expect free deliveries and prompted other retailers to match the perk to spur online sales. Charging to ship products risks driving away online shoppers. The average cost to ship a parcel, including surcharges, is $12.50 today, up from $9.53 in 2019, according to ShipMatrix.

General Motors will spend $4 billion to produce more vehicles in the U.S., as one of the nation’s biggest vehicle importers looks to cut its exposure to tariffs. The Journal’s Christopher Otts writes that the company will move production of the gasoline-powered version of its Chevrolet Blazer SUV from a factory in Mexico to a facility in Spring Hill, Tenn. A battery-powered version of the Blazer will still be made in Mexico. The new investment will allow the company to assemble more than two million vehicles in the U.S. each year, it said, and could help it defray up to $5 billion in annual costs from Trump’s tariffs. Nearly half of the vehicles GM sells in the U.S. are manufactured in foreign plants. The announcement marks the latest pullback on EVs from a company that once set an ambitious agenda for a transition to battery-powered vehicles.

Explosions continued, fire spread and more containers fell overboard from the Wan Hai Lines containership stricken Monday off the coast of India by a blast and blaze that left four crew members missing. (Lloyd’s List)

Small businesses are feeling less worried about their prospects, a survey showed, as tariff concerns lessen and hopes rise for an economic boost from Trump’s tax-and-spending bill. (WSJ)

Democratic senators are seeking answers from the Bureau of Labor Statistics after a hiring freeze forced cutbacks in the survey that determines the U.S. inflation rate. (WSJ)

The Justice Department will resume foreign-bribery investigations, focusing on U.S. strategic interests and helping American firms compete overseas. (WSJ)

UK retail sales growth slowed to 1% in May, the slowest in 2025, as consumers cut spending on nonessential items. (WSJ)

The U.K.’s labor market cooled in the three months to April, with average weekly earnings growth slipping slightly and the unemployment rate climbing to 4.6%. (WSJ)

Boeing’s orders for commercial jets soared to 303 in May, higher than the prior four months combined, as the aerospace giant cashed in on trade deals with Qatar and others. (Investor’s Business Daily)

Daimler Truck and Toyota Motor will merge their Japanese truck units to increase efficiencies in development, procurement and production while boosting competitiveness. (WSJ)

Uber Technologies and self-driving car startup Wayve Technologies agreed to launch public-road trials of fully autonomous vehicles in London. (WSJ)

Ingka Group, which owns most IKEA stores globally, bought a portfolio of solar parks in the Netherlands from Swiss infrastructure investment manager Susi Partners. (WSJ)

United Natural Foods, a major distributor for Whole Foods, cut its profit outlook for the year due to costs from the end of its contract with grocer Key Food. (WSJ)

Designer Brands withdrew its outlook for the year, with the DSW chain owner citing persistent instability and pressure on discretionary spending. (WSJ)

China-founded Shein and Reliance Retail plan to expand their Indian supplier base and start international sales of India-made, Shein-branded clothes within six to 12 months. (Reuters)

The House of Representatives passed bills aimed at reducing the influence of China and other global competitors on critical port infrastructure, and at bolstering the U.S. flag fleet. (gCaptain)

Norfolk Southern will temporarily raise storage charges on shippers that don’t promptly retrieve their containers as freight volumes surge. (Journal of Commerce)

The car carrier Morning Midas, which caught fire in the Pacific Ocean a week ago, was still burning as salvors reached the vessel, with fire-fighting tugs expected to reach the vessel over the next two weeks. (WSJ)

A Shell and EDF Renewables North America joint venture developing the Atlantic Shores wind-power project off the New Jersey coast filed a request with regulators to cancel its plans. (Asbury Park Press) 

Japan’s Marelli Holdings, which supplies auto parts to Nissan Motor, Stellantis and others, plans to file for bankruptcy in the U.S. to reduce its debt burden and restructure. (Bloomberg)

Procurement-software vendor Cofactr added a second warehouse to its network, saying the AI-powered facility is designed for manufacturers in defense, aerospace, robotics and other industries. (DC Velocity)

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.