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Thank you and enjoy the show.

Hello and welcome to the show.

Hello and welcome to the DSR Daily. I'm David Rothkopf. I'm joined today, as always, by Riley Fessler and Minnestine.

And what we're going to try to do is look at five stories from around the world, provide a little insight, get you set for the day, put it in some perspective.

Riley's going to start us off here. Go ahead.

President Trump and President Xi Jinping met in Busan, South Korea, their first face-to-face talks since 2019, resulting in an agreement to ease trade tensions. In exchange for China's

commitment to crackdown on the fentanyl trade,

resume soybean purchases, and ensure the flow of rare earth exports, the U.S. agreed to trim

tariffs on Chinese imports. Specifically, tariffs related to fentanyl precursor drugs would be halved

from 20% to 10%, reducing the overall tariff rate from 57% to 47%.

Despite Trump calling the talks an amazing meeting and rating them a 12 out of 10,

the initial reaction in global financial markets was muted.

Yeah, because it was met.

The whole thing was met. As we said yesterday on the

Deep State Radio podcast, which I highly recommend everybody listen to in our discussion of where

this was going, the goal was sort of to get us from the crazy hyped up tariffs of the moment

back sort of into where we were sort of sometime in April, where we still had

...