Global shares climb after China and the US say they have a framework for seeking a trade deal

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By YURI KAGEYAMA, Associated Press Business Writer

TOKYO (AP) — Global shares mostly rose Wednesday after China and the U.S. said they had agreed on a framework for following up on the trade truce reached last month in Geneva.

France’s CAC 40 added 0.3% in early trading to 7,830.85, while Germany’s DAX edged up 0.1% to 24,063.19. Britain’s FTSE 100 rose nearly 0.2% to 8,867.82. U.S. shares were set to drift lower with Dow futures down 0.2% to 42,826.00. S&P 500 futures declined nearly 0.2% to 6,035.50. Oil prices edged higher.

In Asia, Japan’s benchmark Nikkei 225 surged 0.6% to finish at 38,421.19. Data from the Bank of Japan showed wholesale inflation slowed in May, meaning there might be less pressure for the central bank to raise interest rates in its next policy board meeting.

Hong Kong’s Hang Seng Index gained 0.8% to 24,356.67, while the Shanghai Composite rose 0.5% to 3,402.32.

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Australia’s S&P/ASX 200 lost earlier gains and were little changed, up less than 0.1% to 8,592.10.

South Korea’s Kospi added 1.2% to 2,907.04 as relief set in about Trump’s trade policies. Optimism is also growing about the policies of Korean President Lee Jae-myung, who took office last week. He has promised to encourage growth in the local stock market.

Stocks have soared higher since dropping roughly 20% below their record two months ago, when President Donald Trump shocked financial markets with his announcement of stiff tariffs that raised worries about a possible recession. Much of the rally has been due to hopes that Trump would lower his tariffs after reaching trade deals with countries around the world.

Analysts said that after two days of discussion in London, the late-night agreement reached appeared to be a consensus on what was already agreed upon before. Even so, Trump’s approval is still needed.

“So what did 48 hours of talks actually produce? Apparently, a reaffirmation to eventually do what they had already said they would do. If markets were expecting substance, they got process instead,” said Stephen Innes, managing partner at SPI Asset Management.

U.S. Secretary of Commerce Howard Lutnick said Tuesday evening in London that talks with China were going “really, really well.” Both the United States and China have put many of their tariffs on each other’s exports on pause as talks continue.

However, uncertainty over what is to come is still affecting companies and their profit-making abilities.

Benchmark U.S. crude oil gained 24 cents to $65.22 a barrel. Brent crude, the international standard, edged up 17 cents to $67.045 a barrel.

The U.S. dollar rose to 145.11 Japanese yen from 144.84 yen. The euro cost $1.1420, down from $1.1425.

Frederic J. Fransen: George Washington, America’s reluctant leader, contrasts with today’s

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From the beginning of the American experiment, one of its animating principles has been limited government overseen by citizen legislators.

Contrast that with the “big, beautiful” spending bill being steered through Congress by today’s career politicians, who euphemistically refer to themselves as “public servants.” America’s founders would be appalled.

One of the qualities George Washington’s contemporaries most liked about him was that he was not eager for power. This led to his June 14, 1775, appointment 250 years ago as commander-in-chief of the Continental Army.

He did have extensive combat experience, but it was years earlier and primarily in the style of backwoodsmen, not the fixed-line combat Revolutionary fighters would face against the British. Moreover, Washington was a slaveholder, problematic in a revolution dedicated to freedom.

So, others were considered for the commander-in-chief position, many of whom had more recent and relevant combat experience, such as Massachusetts militia commander Artemus Ward, who became Washington’s second-in-command; British-born Horatio Gates, then living in Virginia, who subsequently served as the Continental Army’s adjutant general; Philip Schuyler from New York; and former British officer Charles Lee.

Among the many possible choices considered by the Continental Congress, Washington stood out because he embodied the kind of leadership the colonists sought.

What were they looking for? For somebody totally unlike today’s so-called leaders.

As the late historian David McCullough recounts in his extraordinary book on Washington and America’s founding, “1776,” Washington was initially reluctant to accept the position of commander. He didn’t lobby for the position, and, when appointed, declared that “I feel great distress from a consciousness that my abilities and military experience may not be up to the extensive and important trust.”

Lest this be taken as false modesty, McCullough quotes from a letter Washington wrote to his wife, Martha: “Far from seeking this appointment, I have used every endeavor in my power to avoid it, not only from my unwillingness to part with you and the family, but from a consciousness of it being a trust too great for my capacity.”

Washington had the requisite charisma and leadership abilities, but he was also chosen because he didn’t crave the job. As the oft-quoted theologian and author James Freeman Clarke is credited with saying, “A politician thinks of the next election, a statesman of the next generation.”

In a world of hereditary monarchies, there was a very real possibility at the time of America’s founding that whoever gained power would refuse to hand it over when the time came. History is full of such examples. Washington posed little such risk.

As early as the 1760s, the American revolutionaries had been drawing parallels between their fight for freedom and the Roman Republic.

During times of war, the Romans would appoint a “dictator” to lead their armies. Dictators had broad powers, but only for a limited time. This allowed them to address the crisis at hand but return to a government of checks and balances once the crisis had passed.

The most famous of these dictators was Cincinnatus, a farmer who was called to defend the Roman Republic in 458 B.C. After being summoned from his fields, he won a speedy victory, resigned, and returned to his plow.

Americans began comparing Washington to Cincinnatus early in the Revolutionary War, and he did not disappoint. With the Treaty of Paris and the end of the war in 1783, Washington resigned and returned to his farm at Mount Vernon, Virginia.

He would be called back again in 1789 to lead the United States as its first president. After serving two terms, he retired again, establishing a precedent of two terms.

The following six two-term presidents adhered to that precedent until Franklin D. Roosevelt not only served a third term but also won a fourth before dying less than three months in. (The 22nd Amendment, passed by Congress in 1947 and ratified in 1951, now limits presidents to two terms.)

The greatest threat to limited government is leaders who covet power, gain it, and are reluctant to cede it.

Washington’s greatness came not only from his essential contributions in office but also from the statesmanship he showed when it was time to step aside.

Frederic J. Fransen is president of Ameritas College Huntington (W.Va.) and CEO of Certell Inc. He wrote this for InsideSources.com.

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How Italian home cooks make their pasta taste so good

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When chef Carla Lalli Music recently made pasta with sausage and broccoli rabe for dinner, it came out too salty. Her error? She used oversalted pasta water to finish her sauce. “Sometimes it’s better not to use it,” she said, claiming that a splash of “regular old water” does the same trick.

Many a recipe writer and Italian cook has espoused the virtues of saving some starchy water before draining pasta to then toss with the noodles and sauce. That starch is said to help thicken a sauce so it can better coat pasta. But does it really make that much of a difference?

Even renowned cookbook author Marcella Hazan, in “Marcella Cucina,” writes that cooking with pasta water “imparts the same tedious, faintly gelatinous texture to what might otherwise have been fresh and lively sauces.” Use it “occasionally,” she advises.

Daniel M. Busiello, a physicist and researcher at the University of Padova, said over a teleconference call that the keys to a silky sauce are the relationships among starch, cheese and water. In April, Busiello, along with seven other Italian scientists, published the latest version of a paper on cacio e pepe, finding — after months of tests — that the concentration of starch relative to the amount of cheese and water is what directly affects the dish’s creaminess.

Here’s why: Starch prevents what the scientists coined as the “Mozzarella Phase,” or what happens when heat causes the proteins in cheese (casein and whey) to clump, creating a sauce that is wet and stringy like mozzarella, rather than smooth, creamy and emulsified. “The starch screens the interaction between proteins by basically putting itself in the middle,” to prevent that sticking, he said.

Stirring in plain water achieves the same saucy, glossy result as pasta water, so long as there is enough cheese and starch released from stirring the pasta. But you’re boiling pasta and already have that water, so why not use it?

In this recipe, pasta water is made more useful as fresh green beans boiled with the pasta season the water with their gentle vegetal umami, while the quick sausage ragù simmers in another. In a dance of sorts between the two pans, the cooked beans and pasta are drained and added to the ragù. As a final step, a spritz of lemon juice and a generous splash of that savory green bean broth are stirred vigorously into the sauced pasta, along with Parmesan, helping to draw out the pasta’s starch while letting the cheese melt into the sauce without splitting.

A short pasta shape, such as orecchiette, macaroni or wagon wheels, is the easiest to stir into a silky sauce here — and means that you can eat the dish with a spoon in front of the television. Just be sure not to oversalt your water — you’re going to need it.

Pasta With Green Bean Ragù

This spoonable pasta, the result of smart home cooking, is a dance of sorts between two pots: Fresh green beans boil with the pasta in one pot to season the water with their gentle vegetal umami, while the quick sausage ragù simmers in another. That green-bean broth gets incorporated into the final dish, a rich, melting mix of Italian sausage, fennel seeds and crushed red pepper. A squeeze of lemon and a generous grating of Parmesan bring it all together.

By Eric Kim

Yield: 4 servings

Total time: 35 minutes

INGREDIENTS

Salt and freshly ground black pepper
12 ounces green beans, trimmed and cut into 1-inch pieces
2 tablespoons extra-virgin olive oil
1 yellow onion, diced
8 ounces hot or sweet Italian sausage links, casings removed
1 teaspoon fennel or cumin seeds
1/2 teaspoon crushed red pepper
1 lemon, halved
1 pound short pasta, such as orecchiette, macaroni or wagon wheels
3 ounces grated Parmesan (about 3/4 cup), plus more for serving

DIRECTIONS

1. Bring a large saucepan of salted water to a boil. Add the green beans and cook, adjusting the heat as needed to maintain a simmer, as you cook the sauce. (Don’t worry about overcooking the beans; they can simmer for 10 to 30 minutes total.)

2. While the beans simmer, heat the oil in a large Dutch oven over medium. Add the onion and season with salt and pepper. Cook, stirring occasionally, until the onion is soft and translucent, about 3 minutes.

3. Add the sausage and cook, breaking it up with a wooden spoon and stirring occasionally, until well browned and starting to stick to the bottom of the pan, about 7 minutes.

4. Reduce the heat to low. Stir in the fennel seeds and red pepper and cook until fragrant, just a few seconds.

5. Add the juice of 1/2 lemon and 1/2 cup of the cooking water from the green bean pot. Raise the heat if needed to simmer, stirring constantly, until the ragù is glossy, about 5 minutes. Add more water from the pot if necessary; the ragù should be saucy like gravy. Keep warm over very low heat.

6. Add the pasta to the saucepan with the green beans and cook according to package instructions. Reserve 2 cups of the cooking water. Drain the pasta and green beans and transfer to the Dutch oven with the ragù. Add the Parmesan and 1 cup of the reserved cooking water, stirring vigorously, until the pasta is saucy and shiny and lightly coated with sauce. If needed, stir in more water, a little at a time. Taste and add more salt, pepper, lemon juice and cheese as desired.

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Budget-friendly bites: Rotisserie chicken and other cheap ingredients, elevated

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“Respect the rotisserie chicken.” A reader wrote to me last week with that gem of a sentence, and I want to put it on hats and tote bags.

I’d asked you all for your cost-saving strategies in these dizzyingly expensive times. You replied en masse, with fascinating emails that detailed your grocery-shopping and cooking habits and shared a glimpse into your lives, whether you’re in Alaska or Australia (both represented) or, most likely, somewhere in between.

Some of you are buying in bulk and going to the store less often. But — counterintuitively! I like it! — some of you are doing the exact opposite, shopping more often and buying less in each go. That way, you buy only what you need in that moment and avoid food waste from ignored groceries — the most expensive choice of all.

You also said you’re shopping your pantries, committing to cleaning out whatever is in the fridge at least one night a week; choosing ground meat over larger cuts or eating less meat altogether; and eating beans and freezing ingredients and leftovers like mad (there was lots of love for vacuum sealers). And, of course, you’re respecting the rotisserie chicken, famously a loss leader for markets like Costco, which makes it a good deal and one of the best dinner shortcuts out there.

The best cost-saving advice of all: Eat out less, and cook more. The five recipes below are meant to give you budget-friendly options that are interesting and delicious.

1. White Chicken Chili

This easy chili comes together quickly, thanks to rotisserie chicken or leftover roast chicken and an ingredient list that leans heavily on pantry staples. Made with canned chiles and seeded jalapenos, this chili has a mild heat that can be intensified with the addition of ground cayenne or by leaving the seeds in the jalapenos. While some white chili recipes call for cream cheese or sour cream to thicken the broth, this one achieves a similar texture by mashing some of the white beans. If you prefer a creamy chili, feel free to stir in a large spoonful of sour cream just before serving. Or, include sour cream with a host of toppings — including crushed tortilla chips, shredded cheese, diced avocado and pickled jalapenos — to make this chili a customizable family favorite.

By Lidey Heuck

Yield: 4 to 6 servings

Total time: 50 minutes

INGREDIENTS

2 tablespoons olive oil
1 large yellow onion, chopped
1 large jalapeno pepper, seeds and ribs removed, finely chopped
2 tablespoons minced garlic (about 5 cloves)
1 teaspoon dried oregano
1 teaspoon ground cumin
1/2 teaspoon sweet paprika or chili powder
Pinch of cayenne pepper, to taste
1 teaspoon kosher salt, plus more to taste (such as Diamond Crystal)
Freshly cracked black pepper
4 cups low-sodium chicken broth
2 (15-ounce) cans cannellini beans, rinsed and drained
2 (4-ounce) cans diced green chiles
2 1/2 to 3 cups cooked shredded chicken (from 1 roast chicken or rotisserie chicken)
1 cup fresh or frozen corn kernels
Half a lime, plus lime wedges for serving
Shredded cheddar or Monterey Jack cheese, pickled jalapeno slices, diced avocado, sour cream, chopped fresh cilantro and crushed tortilla chips, for serving (optional)

DIRECTIONS

1. In a large Dutch oven or pot, heat the olive oil over medium heat. Add the onion and jalapeno and cook, stirring often, until the onions are tender, about 6 minutes. Add the garlic, oregano, cumin, paprika, cayenne, salt and a few grinds of black pepper, and cook for 1 minute, until fragrant.

2. Add the chicken broth, cannellini beans and diced green chiles with their liquid; bring to a boil over medium-high heat. Lower the heat and simmer, stirring occasionally, until the broth has reduced by about half, 18 to 20 minutes. Off the heat, use a wooden spoon to mash some of the beans against the side of the pot. Continue mashing the beans until the broth is noticeably thicker.

3. Return the pot to medium, stir in the chicken and corn, and cook until heated through, about 3 minutes. Juice the lime half over the pot, then taste for seasonings and add more salt, black pepper, and cayenne, if desired.

4. Serve the chili in bowls topped as you like with a lime wedge, shredded cheese, pickled jalapeños, diced avocado, sour cream, chopped fresh cilantro, and/or crushed tortilla chips.

2. Gochujang Buttered Noodles

These garlicky, buttery noodles are perfect for when you need a stellar pantry meal lickety-split. A packet of fresh or even instant ramen speeds up the meal prep and is ideal when cooking for one (see tip below). Honey and sherry vinegar round out gochujang’s deep heat into a mellowness that’s at once sweet, savory and tangy. The brick-red butter sauce, emulsified with a splash of the pasta cooking water, coats spaghetti here, but you can use whatever noodles you like.

By Eric Kim

Yield: 4 servings

Total time: 25 minutes

INGREDIENTS

1 pound spaghetti or other long pasta
6 tablespoons unsalted butter
12 garlic cloves, finely chopped (about 1/3 cup)
Salt and pepper
1/4 cup gochujang paste (not sauce; see tip below)
1/4 cup honey
1/4 cup sherry vinegar or rice vinegar
Finely chopped cilantro or thinly sliced scallions (optional)

DIRECTIONS

1. Bring a large pot of water to a boil. Add the spaghetti and cook according to package instructions. Reserve 1 cup of the cooking water. Drain the spaghetti and return to its pot.

2. While the pasta cooks, melt 4 tablespoons of the butter in a skillet over medium-low. Add the garlic and season generously with salt. Cook, stirring occasionally, until the garlic starts to soften but not brown, 1 to 3 minutes.

3. Stir in the gochujang, honey and vinegar, and bring to a simmer over medium-high. Cook, stirring constantly, until the mixture reduces significantly, 3 to 4 minutes; when you drag a spatula across the bottom of the pan, it should leave behind a trail that stays put for about 3 seconds. Remove from the heat.

4. Transfer the sauce to the pot with the spaghetti and add the remaining 2 tablespoons butter. Vigorously stir until the butter melts. Add splashes of the pasta cooking water, as needed, to thin out the sauce. Taste and season with salt and pepper. Top with the cilantro or scallions (if using) and serve immediately.

TIPS: Be sure to purchase plain gochujang paste, not gochujang sauce, which often includes additives like vinegar and sugar. To easily measure out gochujang, swipe the inside of a measuring cup with a little neutral oil, which will get it to slip right out.

To make a single serving, follow the recipe using 4 to 5 ounces fresh or instant ramen noodles; 1 1/2 tablespoons unsalted butter (1 tablespoon to fry the garlic and 1/2 tablespoon for the sauce at the end); 3 garlic cloves; 1 heaping tablespoon gochujang; 1 tablespoon honey; 1 tablespoon sherry vinegar or rice vinegar. Decrease the cook times throughout by 1 to 2 minutes.

3. Smashed Beef Kebab With Cucumber Yogurt

Crispy Kofta With Cucumber Yogurt. Food Stylist: Barrett Washburne. (Ryan Liebe/The New York Times)

This quick skillet dinner of spiced, seared ground beef over cooling yogurt combines elements of two Persian classics: kebab koobideh (grilled kebabs) and mast-o-khiar (cucumber yogurt). The creamy yogurt base keeps close to the original, while the ground beef is hard-seared on one side like a scallop for a crisp texture. Walnuts and raisins, traditionally toppings for mast-o-khiar, get toasted in the beef fat, adding crunch and sweetness to balance the savory meat and tangy yogurt.

By Zaynab Issa

Yield: 4 servings

Total time: 25 minutes

INGREDIENTS

2 cups full-fat or low-fat Greek yogurt (about 16 ounces)
2 mini cucumbers (about 1/2 pound), grated on the large holes of a box grater
3 tablespoons finely chopped mint, plus mint leaves for serving
1 large garlic clove, finely grated
1 pound ground beef (preferably 80% lean) or ground lamb
1 small yellow onion, grated on the large holes of a box grater (see tip below)
1/2 teaspoon ground turmeric
2 teaspoons kosher salt (such as Diamond Crystal)
Freshly ground black pepper
1/4 cup walnut halves or pieces, or both (see tip below)
2 tablespoons raisins or dried cranberries
Pomegranate molasses, optional, for serving
Warmed pita or white rice, for serving

DIRECTIONS

1. Add the yogurt, cucumbers, chopped mint and garlic to a medium bowl. Mix well to combine. Chill until ready to serve.

2. Add the beef, onion, turmeric, 1 teaspoon of salt and lots of black pepper to a second medium bowl and mix well to combine.

3. Heat a large well-seasoned cast-iron skillet (or other large heavy-bottomed pan) over medium-high. Once the skillet is very hot, divide beef into large, irregular chunks by using two spoons or your hands and drop into the skillet. Cook, undisturbed, until charred and crisp on the underside and browned at least halfway up the sides, 6 to 8 minutes.

4. Using a wooden spoon, toss the meat, breaking up any very large pieces. Add the walnuts and raisins and continue to cook, stirring often, until the meat is cooked to desired doneness and the walnuts are toasted, 2 to 3 minutes more.

5. Remove the yogurt from the fridge and season with the remaining 1 teaspoon of salt. Spread the yogurt on the bottom of a serving platter and top with the crispy meat. Finish with a drizzle of pomegranate molasses, if using, and garnish with mint leaves. Serve with warmed pita or rice.

TIPS: To minimize eye irritation while grating, use a chilled onion.

Two tablespoons of pistachios or pine nuts can be substituted for the walnuts.

4. Garlicky Chicken Thighs With Scallion and Lime

Garlicky Chicken Thighs with Scallion and Lime. Food Stylist: Barrett Washburne. (Mark Weinberg/The New York Times)

These tangy chicken thighs are a weeknight alternative to a long, weekend braise. They may not fall entirely off the bone, but the quick simmer in a rich, citrusy sauce yields an impossibly tender thigh that you wouldn’t get with a simple sear. Serve with rice, whole grains or with hunks of crusty bread for mopping up the leftover sauce.

By Alison Roman

Yield: 4 servings

Total time: 35 minutes

INGREDIENTS

1 1/2 pounds bone-in, skin-on chicken thighs
Kosher salt and freshly ground pepper
1 tablespoon canola oil
1 bunch scallions
1 head garlic, unpeeled and halved crosswise
2 cloves garlic, peeled and finely grated
2 tablespoons fresh lime juice, plus 1 lime
1 tablespoon low-sodium soy sauce

DIRECTIONS

1. Season chicken with salt and pepper on both sides.

2. Heat oil in a large Dutch oven or large, high-sided skillet over medium heat.

3. Add chicken, skin-side down and cook, undisturbed, until chicken is crisped and the fat has begun to render, 8 to 10 minutes. Using tongs, carefully flip chicken skin-side up. Cook until golden brown, 4 to 6 minutes.

4. Meanwhile, thinly slice two scallions; set aside.

5. Add both halves of the head of garlic, cut side down, and remaining whole scallions to the pot and season with salt and pepper, tossing to coat in the chicken fat. Cook until scallions are lightly blistered and browned, about 3 minutes. Add grated garlic and stir a minute or two, but do not brown.

6. Add lime juice, soy sauce and 1 cup of water. Bring to a simmer and partly cover. Cook until chicken is completely tender and nearly falling apart on the underside and liquid is reduced by three-quarters, 15 to 20 minutes. Discard the halved head of garlic.

7. Scatter sliced scallion over chicken and using a Microplane or zester, zest lime over. Cut lime into quarters and serve alongside.

5. Crispy Potato Quesadillas

Crispy Potato Quesadillas. Food Stylist: Brett Regot. (Armando Rafael/The New York Times)

Despite what many people think, quesadillas don’t always have cheese. In Mexico City, you can order a “quesadilla sin queso” with a variety of fillings, highlighting the regional debate around what constitutes a true quesadilla. This version embraces both worlds: It contains cheese, but it’s melted into a hearty potato and pea filling that makes these quesadillas more satisfying as a complete meal. The quick slaw on top, inspired by curtido (a vinegary cabbage salad popular throughout Central America), balances the richness of the quesadillas and provides a nice spicy crunch. If you have any slaw left over, it keeps for up to four days in the refrigerator and is versatile enough to serve with plain rice or grilled meat or fish throughout the week.

By Kristina Felix

Yield: 4 servings

Total time: 35 minutes

INGREDIENTS

Kosher salt
1 pound potatoes, unpeeled but scrubbed clean
1 cup peas, frozen or fresh (6 ounces)
2 cups shredded semisoft cheese, such as Monterey Jack or cheddar
11/2 tablespoons avocado or vegetable oil
8 (7- to 8-inch) flour tortillas
1/4 medium green cabbage, thinly sliced (about 4 cups)
2 carrots, grated
1/2 red onion, thinly sliced
1 jalapeno or serrano, diced (seeded for less spice, if desired)
1 lime, juiced
3 tablespoons white or apple cider vinegar
11/2 teaspoons sugar
Sour cream or Mexican crema, optional, for serving

DIRECTIONS

1. Heat oven to 400 degrees.

2. Fill a medium pot with water; add 2 tablespoons salt and set it to boil on high. Cut potatoes into 1-inch chunks and place them in the pot as you go. Once the water is boiling, lower the heat slightly to maintain a rolling boil and cook potatoes for 5 to 7 minutes, until easily pierced with a fork. Add the peas and cook for 3 minutes more. Drain the vegetables, return them to the pot, add the cheese and mash until fully combined. Add more salt to your taste.

3. Add the oil to a baking sheet and spread it around evenly using one side of a flour tortilla, then repeat with another until you have 4 tortillas lightly oiled on one side, evenly arranged on the baking sheet (it’s OK if they overlap a bit.)

4. Divide the mash among the tortillas. Top each with a second tortilla and press down until the filling almost spills out. Flip the quesadillas so the other side gets oiled.

5. Bake for 8 minutes, flip the quesadillas over, and bake for another 8 minutes until browned and crispy. They may puff up, which is great.

6. Meanwhile make the topping. Combine the cabbage, carrots, red onion, jalapeno, lime juice, vinegar, sugar and 11/2 teaspoons salt. Toss the slaw with your hands and taste to adjust for vinegar, salt or sugar until the slaw is to your liking.

7. To serve, quarter the quesadillas with a sharp knife and top with slaw and a dollop of sour cream, if using.

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