BONUS POD: Tariff Turnaround-Understanding Trump's Reset on U.S. Trade

Verdict with Ted Cruz

Premiere Networks

Politics, Daily News, News, News Commentary

4.5 • 42.9K Ratings

🗓️ 15 May 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Breakthrough in Trade Talks:
After two days of negotiations in Geneva, U.S. officials, including Treasury Secretary Scott Descent and Trade Representative Jamison Greer, reported substantial progress with Chinese Vice Premier Liu He.
Tariff Reductions:
- U.S. tariffs on Chinese goods dropped from 145% to 30%.
- Chinese tariffs on U.S. goods dropped from 125% to 10%.
- A 90-day pause on certain tariffs was agreed upon.
Economic Impact:
The announcement positively affected financial markets, with rising stock futures and a strengthening U.S. dollar.
Strategic Goals:
- Addressing the $1.2 trillion U.S. trade deficit.
- Opening Chinese markets to American businesses.
- Establishing a new consultation mechanism for ongoing dialogue.
- Tackling the fentanyl crisis through joint action.

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0:00.0	You're listening to an I-Heart podcast. If you go back 30 years ago, he wasn't a smart
0:09.1	person. You go back to prime time with him. He wasn't a smart person. But he was a very mean person.
0:14.9	Joe Biden's a very mean person. People don't understand that. They've ruined lives. They've ruined
0:19.5	families. They've ruined so many people.
0:22.1	They could have ruined me. They tried to ruin me. But we're now in Air Force One flying nicely to the
0:27.4	Middle East, right? You're listening to the 47 morning update with Ben Ferguson. Good Thursday morning.
0:33.4	Nice to have you with us on the 47 morning update, Ben Ferguson with you, and we have two major
0:38.9	stories for you this morning coming from the Trump administration. First up, the media lied to you
0:44.9	when they said there was no chance we'd get a deal with China anytime soon. Some were even
0:50.9	saying it wouldn't be done any time this year. We now have a major announcement from the White House on a trade negotiation deal with China, and I'll give you the details in just a moment.
1:02.0	Up next, what happened in the China trade deal that is affecting every American? It's the 47 morning update, and it starts right now. Story number one.
1:12.2	Doom and gloom, that's what the media wanted you to believe that a deal would not be done
1:17.0	even this year with China. Well, guess what? The White House announced a significant breakthrough
1:23.1	in trade negotiations with China, marking a positive step forward, resolving the ongoing trade
1:30.5	tensions between the two nations.
1:33.3	When did this happen?
1:34.6	After two days of constructive talks in Geneva, the U.S. Treasury Secretary Scott Besant
1:41.1	and the trade representative Jameson Greer reported substantial progress in discussions with Chinese vice premier and both sides of express optimism about the outcome.
1:53.0	I want you to hear what the Treasury Secretary had to say after the meeting on Sunday.
1:58.9	And I think that led to a great deal of the productivity we've seen.
2:03.7	But I can tell you that the talks were productive.
2:07.1	We had the vice premier two vice ministers who were interagally involved, Ambassador Jameson and myself.
	...

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