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2025. Here's your morning brief for Wednesday, October 15th. I'm Kate Bullivant for the Wall Street Journal.

As the Trump administration tries to publicly calm renewed trade tensions with China, Beijing is playing hardball.

That's because, according to people close to Beijing's decision-making, President Xi Jinping is betting that the US economy can't absorb a prolonged trade standoff with China.

Beijing is holding a firm line because of its conviction, the people said,

that an escalating trade war will tank stock markets and that that prospect will ultimately force President Trump to negotiate at a summit with

she expected to take place later this month. The State Department says it has revoked the visas

of at least six people over their comments on the killing of conservative activist Charlie Kirk.

The people include nationals of Argentina, South Africa and Mexico. The department said on

social media that the US has, quote, no obligation to host foreigners who wish death on Americans.

And in a sign that a debilitating slump in demand for high-end goods may be nearing an end,

shares of European luxury goods companies

surge this morning after Louis Vuitton owner LVMH reported higher third quarter sales.

That marked the first time this year that its sales didn't decline, as the industry contends

...