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Welcome to the PDB afternoon bulletin.

I'm Mike Baker, your eyes and ears on the world stage.

All right, let's get briefed.

First, we may have an answer as to who's going to blink first in the ongoing tariffs battle,

China or the U.S.

China is reportedly, quietly, issuing a list of U.S. made products that are exempt from the duties,

as the financial impact of the tariffs wreaks havoc on their export-dependent economy.

But it's not all sunshine and roses for the U.S. economy, which shrank over the first quarter of this year. Later in the

show, we're learning more details about the pivotal meeting between President Trump and Ukrainian

President Zelenskyy at the Vatican on Saturday, and why it may cause President

Trump to take a tougher stance against Russian President Putin. But first, today's afternoon spotlight.

We'll begin today with an update on the U.S.-China trade war, as reports emerge that leaders in Beijing

may be caving to the pressure from the Trump administration's

tariffs. According to an exclusive report from Reuters, the communist regime has created a list

of U.S.-made products that are exempt from its 125% retaliatory tariffs and a quietly notifying

companies of the shift in policy. The development is the clearest

signal yet that despite their public statements, Beijing is eager to de-escalate the trade war

...