AP News Summary at 4:39 a.m. EDT

Iranian official says end of war includes end of Israel's occupation of Lebanon, state TV reports

DUBAI, United Arab Emirates (AP) — Iran's top diplomat was quoted as saying Tuesday that the end of the Iran war included the end of Israel's occupation of Lebanon. Iranian state television quoted Foreign Minister Abbas Araghchi making the comment to foreign diplomats in a briefing. It did not air the remarks, but put them in an onscreen graphic. It also quoted Araghchi as saying that Israel's continued occupation of southern Lebanon would violate the memorandum of understanding reached between the United States and Iran. It remains unclear what is in the interim agreement as it has yet to be released publicly in full.

Trump’s Iran deal greeted with skepticism and scrutiny on Capitol Hill

WASHINGTON (AP) — Republicans on Capitol Hill say they need more information about the agreement between the United States and Iran announced Sunday by President Donald Trump. Some are expressing skepticism as they ask the White House for details. The agreement is set for a ceremonial signing Friday in Geneva. It is centered around reopening the Strait of Hormuz and lifting the United States' naval blockade in the region. But Senate Republicans and Democrats in Washington on Monday said there were still many unanswered questions about the deal and they need information before it is finalized.

8 people died in B-52 bomber crash at US Air Force base in Southern California, officials say

LOS ANGELES (AP) — The U.S. Air Force says eight people aboard a B-52 bomber that crashed shortly after takeoff at a military base in Southern California's Mojave Desert are dead. Officials said Monday that emergency crews responded after the aircraft went down around 11:20 a.m. at Edwards Air Force Base north of Los Angeles. The Boeing B-52 Stratofortress is a long-range bomber that entered service in 1955. Designed to carry both conventional and nuclear weapons, it has been used in conflicts involving the U.S. military from Vietnam to Iran.

G7 leaders open summit talks on Ukraine and the Middle East as Zelenskyy joins in France

EVIAN-LES-BAINS, France (AP) — Leaders at the Group of Seven summit of major industrialized nations face a packed agenda on Tuesday. The agenda includes ending the war in Ukraine and addressing the Middle East crisis. Ukrainian President Volodymyr Zelenskyy will be in attendance at the invitation of host France. The Ukraine talks come on the heels of U.S. President Donald Trump's announcement of an agreement to end the 3 1/2-month-old U.S. war against Iran. In recent weeks, the Iran conflict has overshadowed the war in Ukraine that Russian President Vladimir Putin launched more than four years ago.

What to know about the demining and escort mission that US allies want for the Strait of Hormuz

EVIAN-LES-BAINS, France (AP) — U.S. allies are proposing a naval mission to ensure safe navigation through the Strait of Hormuz. This follows an initial deal to end the Iran war. The French-British-led plan includes removing explosive mines and possibly providing military escorts for vessels. U.S. President Donald Trump says he doesn't see a need for much help but that  a ship or two might be welcome. The proposed mission aims to reassure crews and insurers about the safety of the waterway. France’s aircraft carrier, Charles de Gaulle, is already in the region. Allies have experience with escort missions, having previously defended ships in the Red Sea.

China Shock 2.0: Surging Chinese exports threaten Europe’s economy, raising concern at G7 summit

WASHINGTON (AP) — For eight years, the United States has waged economic war on China, slapping big taxes on Chinese products before they enter America. But the campaign hasn't dented China's industrial prowess. The world's second biggest economy is exporting more products than ever. It's just redirecting them away from the U.S. tariff wall and toward more open markets in Europe and elsewhere in Asia. The shift in Chinese trade risks creating a European sequel to the China Shock that wiped out hundreds of thousands of factory jobs in the American heartland in the 2000s and contributed to the political upheaval that put Donald Trump in the White House twice.

What to know about Edwards Air Force Base in Southern California's Mojave Desert

EDWARDS AIR FORCE BASE, Calif. (AP) — For decades, a U.S. Air Force base in Southern California's Mojave Desert has been a hotbed of some of the most innovative flight research in the U.S. From a test pilot breaking the sound barrier to a space shuttle touching down, aviation history has often been made at Edwards Air Force Base. There has also been tragedy, like the one that unfolded Monday when a B-52 bomber crashed shortly after takeoff at the base and burst into flames, killing all eight people aboard.

Higher prices for gas, groceries and flights will outlast the Iran war, experts say

NEW YORK (AP) — People around the world may be wondering how soon prices will drop for gasoline, groceries, flights and other items that got more expensive during the Iran war. The answer from experts after the U.S. and Iran announced a tentative deal to end the conflict is: not that soon. Economists and industry analysts say that even after oil starts flowing again from the Middle East, it could take a while for the war’s effects on consumer prices to recede. That’s because the fighting disrupted not only fuel supplies but also the supply chains for fertilizer, food and even footwear. Experts say that as long as business costs are elevated, customer prices are likely to be too.

Asian shares are mostly higher and Japan’s Nikkei tops 70,000 before BOJ rate hike

TOKYO (AP) — Asian shares are mostly higher and Japan’s benchmark Nikkei 225 briefly topped 70,000 for the first time before trimming early gains after the Bank of Japan raised its key interest rate to 1%. It’s the first time the rate has been at 1% in three decades. Shares in Hong Kong and Australia fell Tuesday but other markets advanced. On Monday, stock markets rallied worldwide and oil prices eased after the United States and Iran reached a tentative deal to get the global flow of crude going again. The S&P 500 rose 1.7% and the Dow climbed 0.9% to a record. The Nasdaq composite jumped 3.1%. Brent crude fell 4.8%.

All eyes turn to Fed chair Kevin Warsh and his first moves on interest rates

WASHINGTON (AP) — Ever since Kevin Warsh was nominated by President Trump in late January to lead the Federal Reserve, a question has lingered: Will he seek to raise interest rates to tame inflation or cut them as Trump has long demanded? On Wednesday, Warsh may provide the first hints of an answer when he oversees his first Fed policy meeting as chair. Bond markets, which can swing sharply on a chair's pronouncements, will be watching particularly closely for any signs of which way he leans. Still, Warsh will likely aim for a neutral approach, economists say, largely because he is taking over the Fed at a challenging time.