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SINGAPORE (AP) — Global stocks rose today after President Donald Trump suspended plans to impose tariffs on Mexico as the countries inked a deal on immigration. But broader concerns remain over global growth and a trade dispute between the United States and China that shows no sign of easing. After strong gains in Asia, European indexes were up more modestly. And Wall Street appears set to build on gains from last week, with S&P futures up 0.3% and Dow futures 0.4% higher.
BEIJING (AP) — Chinese exports edged up in May, surprising markets, but analysts say the rebound is likely to be short-lived given higher U.S. tariffs and slowing global growth. The Chinese customs agency says China's monthly trade surplus jumped 78% to $41.7 billion, as exports rose 1.1% to $213.8 billion and imports fell 8.5% to $172.2 billion. Analysts say the fall in imports reflects weak domestic demand. The rise in exports came despite a worsening trade war with the United States in which both countries have raised tariffs on each other's products.
DETROIT (AP) — Fiat Chrysler is in talks to produce self-driving commercial vehicles with Aurora, an autonomous vehicle company led by former Google, Tesla and Uber executives. FCA and Aurora have a deal to lay the groundwork for a partnership to use Aurora's self-driving system globally in Ram and Fiat vehicles used for deliveries and other duties. The partnership would not affect FCA's deal to provide hybrid Chrysler minivans to Waymo, the autonomous vehicle spinoff from Google.
CHARLOTTESVILLE, Va. (AP) — Officials in Charlottesville, Virginia, have voted to divest the city's operating budget investments from any entity involved in the production of fossil fuels or weapons. WVIR-TV is reporting that the City Council voted 4-1 last week to complete those divestments within the next 30 days. Supporters of divestment argued that weapons and fossil fuels do not align with the city's strategic plan goals, including being responsible stewards of natural resources.
REYKJAVIK, Iceland (AP) — Trouble is rattling one of Iceland's most distinctive industries: the production of the thick, hand-knitted "lopi" sweaters adored by tourists and worn with pride by locals. The individually produced, very warm sweaters have become a symbol of Iceland. But increasingly the local wool is being shipped to the cheaper labor market of China, where the sweaters are hand-knitted and then sent back for sale on the North Atlantic island.
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