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The Ben Ferguson Podcast

Breakthrough in U.S.-China Trade plus Trump’s Executive Order to Slash Drug Prices

The Ben Ferguson Podcast

iHeartPodcasts

Politics, News, News Commentary

4.94.7K Ratings

🗓️ 12 May 2025

⏱️ 16 minutes

🧾️ Download transcript

Summary

1. US-China Trade Negotiations

  • The podcast opens by criticizing the media for pessimism about US-China trade talks.
  • It reports a “significant breakthrough” in trade negotiations after two days of talks in Geneva.
  • US Treasury Secretary and Trade Representative express optimism, noting substantial progress with Chinese Vice Premier and ministers.
  • The agreement is framed as a major win for the Trump administration, with a full briefing promised.
  • Emphasis is placed on the $1.2 trillion trade deficit and the declaration of a national emergency to justify tariffs.
  • The talks are described as constructive, with both sides establishing a new consultation mechanism for ongoing dialogue.

2. Executive Order on Prescription Drug Prices

  • Trump announces a major executive order aimed at reducing prescription drug prices by 30% to 80%.
  • The policy includes a “Most Favored Nations” clause, ensuring the US pays no more than the lowest global price for drugs.
  • Trump criticizes pharmaceutical companies and Democrats, accusing them of enabling high prices through lobbying.
  • The order is said to provide massive discounts for low-income patients and support state-level cost-saving programs.

3. FAA Technology and Infrastructure Overhaul

  • Transportation Secretary Sean Duffy reveals that the FAA is using outdated technology, with parts being sourced from eBay.
  • A major infrastructure overhaul is promised, including a new fiber-driven system for air traffic control.
  • The situation is described as urgent, with safety concerns and training of new air traffic controllers underway.
  • Trump is credited with initiating the overhaul, which previous administrations allegedly ignored.

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Transcript

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0:00.0

You're listening to an IHeart podcast.

0:05.0

Hi, I'm Bob Pittman, chairman and CEO of IHeart Media.

0:08.4

On this week's episode of Math and Magic, I'm sitting down with a one and only Bobby Bones.

0:13.4

We're exploring the power of audio.

0:15.8

Yeah, I don't fit into one specific hole.

0:18.1

I think that is what endeared me to listeners.

0:21.4

That's why I'm here now because I talk to people that grew up like me, have sensibilities

0:26.8

like me, and have loyalties like me.

0:29.3

Listen to math and magic, stories from the frontiers of marketing on the Iheart radio app,

0:33.8

Apple Podcasts, or wherever you get your podcast.

0:38.4

We have also launched a phone app called CBP Home.

0:43.1

That's CBP Home, where illegals can book a free flight to any foreign country.

0:48.5

As long as it's not here, you can go anywhere you want.

0:51.5

So to all illegal aliens who book your free flight right now, we want you out of America.

0:56.2

But if you're really good, we're going to try and help you get back in.

0:58.9

You're listening to the 47 morning update with Ben Ferguson.

1:02.8

Good Monday morning.

1:03.9

Welcome.

1:04.3

It is the 47 morning update.

1:06.0

And we've got three big stories for you this morning.

1:08.9

First up, the media lied to you when they said there was

1:12.4

no chance we'd get a deal with China anytime soon. Some were even saying it wouldn't be done

...

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