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China cuts its economic growth forecast as it preps for an era of slower expansion, plus

Europe ups its support for the U.S. war on Iran, and a trade court judge tells the Trump

administration to pay back billions in tariffs.

The Supreme Court ruling and then this refund ruling both creates a certain idea that

there's a limit to how the administration can use these tariffs at will to penalize countries from one day to the next.

It's Thursday, March 5th. I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of What's News.

The top headlines and business stories moving your world today.

China has cut its annual economic growth target to a range of four and a half to five percent,

its lowest expansion goal since 1991. The details were released during China's biggest political gathering, known as the two sessions,

and kicks off the next five-year plan for the world's second largest economy.

Economics reporter Hanna Miao told us that Beijing is aiming to reshape its economy as it grapples with challenges both at home and abroad.

Households are fairly cautious to spend. Investment has slowed down and the real estate market

is still very much struggling. And last year, China had set a growth target of around 5%.

And it was really achieved in large part through exports. And that has become an area of increased

tension with trading partners. The IMF has suggested that China should try to move away from

relying on exports because it creates all these tensions around this global trade imbalance.

And while less reliance on exports might be welcome news for countries frustrated by the

dominance of Chinese products, Hannah told us that the new growth targets include a growing

...