Good morning, I'm Taylor Wilson, and today is Tuesday, May 13th, 2025.

This is the exit.

Today, how markets are reacting to this week's tariff agreement with China,

plus we take a closer look at Trump's move to reduce drug prices,

and how sports betting addiction is gripping some young men.

Markets rocketed higher yesterday after Treasury Secretary Scott Besson said the U.S. in China

agreed tariffs would come down dramatically. The U.S. will cut extra tariffs it imposed on Chinese

imports in April to 30 percent from 145 percent, while Chinese duties on U.S. will cut extra tariffs it imposed on Chinese imports in April to 30% from 145%,

while Chinese duties on U.S. imports will fall to 10% from 125%. The new measures are effective

for 90 days. President Donald Trump in a briefing yesterday said it's about fairness.

Think about it. We opened up our country to China. They come, we don't, I mean,

they have very few restrictions. And they didn't open their country to us. Never made sense to me.

It's not fair. And they've agreed to open China, fully open China. He said key elements of the deal

included pledges from China to open markets to American businesses and to eliminate non-monetary

trade barriers. He said China also agreed to cut off the flow of fentanyl to the U.S.

The deal does not include tariffs on cars, steel, aluminum, and pharmaceuticals, Trump said.

He also added that he plans to speak with Chinese leader Xi Jinping potentially before the end of the

week. Meanwhile, a rally in Asian stocks ran out of steam and the dollar wobbled earlier today,

indicating that trade worries linger despite the U.S.-China deal.

Drug prices in the United States are nearly three times,

those of 33 comparison countries,

according to a report last year from the Health and Human Services Department.

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