TUESDAY, MAY 3, 1983; Companies
The American Motors Corporation and China are close to signing an agreement to jointly produce Jeeps in Peking. The accord, which would be the first joint venture by an American auto maker in China, calls for the production of 40,000 vehicles a year for sale throughout the Far East. (Page A1.) A $2.05 million libel judgment against The Washington Post was thrown out by a Federal judge. U.S. District Court Judge Oliver Gasch, overturning a jury verdict returned last summer, ruled that the newspaper had not acted with malice in reporting that the president of Mobil Oil, William P. Tavoulareas, had used his influence and Mobil's money to ''set up his son'' in the shipping business. (A1.)