P.M. Edition for Oct. 28. In an exclusive, we’re reporting on a trade framework that President Trump and Chinese leader Xi Jinping are set to discuss later this week that could see the U.S. rolling back some tariffs on China. WSJ trade and economic policy reporter Gavin Bade discusses what we know about the framework, and what that means for the U.S.-China relationship. Plus, UPS says it has cut 48,000 jobs in management and operations, pushing its stock price to close up 8%. And OpenAI has transitioned into a more traditional structure. We hear from WSJ reporter Keach Hagey about what that means for the company and its longtime partner Microsoft. Alex Ossola hosts.

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Correction: OpenAI’s nonprofit parent owns a stake in its for-profit subsidiary, which has become a public-benefit corporation. An earlier version of this podcast incorrectly said OpenAI had become a for-profit company. (Corrected Oct. 28)

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