AP News Summary at 6:21 a.m. EDT

Iran says the deal to end the war with the US requires Israel to withdraw from Lebanon

DUBAI, United Arab Emirates (AP) — Iran's top diplomat says that the end of the Iran war included the end of Israel's occupation of Lebanon. Iranian state television aired the comments by Foreign Minister Abbas Araghchi Tuesday to diplomats from other countries in a briefing. Araghchi says that Israel's continued occupation of southern Lebanon would violate the memorandum of understanding reached between the United States and Iran. The United States has not said whether Lebanon was part of the final agreement. It remains unclear what is in the 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 allies scramble to put Ukraine back atop Trump’s agenda as war drags on

EVIAN-LES-BAINS, France (AP) — U.S. allies at the Group of Seven summit are pushing the war in Ukraine back on President Donald Trump’s agenda. The Iran conflict has recently overshadowed the war in Ukraine. French President Emmanuel Macron aims to persuade Trump to support Ukraine and pressure Russia for peace. The U.S. has cut back aid to Ukraine, making the Europeans the biggest supporters. Ukrainian President Volodymyr Zelenskyy joined the G7 leaders for talks. Meanwhile, the U.K. announced new sanctions targeting Russia’s “shadow fleet” used to ship oil and gas. Trump plans to meet Zelenskyy and focus on Ukraine, saying Iran will soon be “back in the rearview mirror.â€

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 likely outlast the Iran war

NEW YORK (AP) — Economists and industry analysts say that even after oil starts flowing again from the Middle East, it could take a while for the Iran 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. Gasoline, groceries, airline tickets and other items have all gotten more expensive during the war.

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

TOKYO (AP) — Global 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% since 1995. Benchmarks rose in early trading in France, Germany and Britain. In Asia, shares in Hong Kong and Shanghai fell but other markets advanced. Oil prices fell on hopes that the U.S. and Iran will follow through on a tentative agreement to end the war. Benchmark crude had been trading at about $70 before the war and earlier shot up above $100.

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.