Trump says Treasury Secretary Scott Bessent won’t be the new AI czar. A new person will lead the administration’s AI effort.

US Trade Representative Jamieson Greer says the US and China have reached a deal covering a “subset” of goods and are now in a managed trade situation. But key issues like AI chips, export controls and national security were not part of the talks.

EU foreign policy chief Kaja Kallas says EU member states have agreed on the terms to release €6.6 billion from the European Peace Facility for Ukraine.

Volkswagen is recalling around 2.86 million vehicles worldwide over a steering wheel issue. Owners will be contacted and asked to visit an authorized workshop, where the faulty bolt will be checked and replaced with a corrosion-resistant one.

Najaf International Airport in Iraq says it has suspended all flights to and from Iran. No word yet on when flights will resume.

ArcelorMittal says it can’t restart operations at its Kryvyi Rih facility in Ukraine after missile strikes in August and September. The company expects around a $1 billion non-cash charge from the damage.