Stocks Surge as U.S. and China Slash Tariffs

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 12 May 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

A.M. Edition for May 12. Washington and Beijing take a major step toward thawing their trade conflict by agreeing to lower tariffs on each other’s goods by 115%. WSJ reporter Jason Douglas recaps the results of weekend talks and explains which issues the two sides still need to sort out. Plus, President Trump is expected to sign an executive order today tying U.S. drug prices to what other countries pay. And Ukrainian President Volodymyr Zelensky challenges Russian President Vladimir Putin to meet him for peace talks this week. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Does it ever feel like you're a marketing professional just speaking into the void?
0:05.0	Well, with LinkedIn ads, you can know you're reaching the right decision makers.
0:09.0	You can even target them by job title, industry, company, role, seniority, skills, company revenue, and...
0:16.0	Did I say job title yet?
0:17.0	Get started today and see how you can avoid the void and reach the right buyers with
0:21.4	LinkedIn ads. To get 100 pounds of your first campaign, go to LinkedIn.com slash lead to claim
0:27.2	your credit. Terms and conditions apply. Stocks surge as the U.S. and China agree to slash tariffs.
0:38.1	Our reciprocal tariff rate will go down to 10%, on the United States side, so it goes
0:44.5	down 115%.
0:45.9	We enter into a 90-day pause period for negotiations, which both the Chinese, the United States,
0:51.1	are very committed to.
0:52.3	Plus, President Trump says he'll sign an executive order today aimed at lowering drug prices,
0:57.6	and Ukrainian President Vladimir Zelenskyy challenges Russia's Vladimir Putin to meet for peace talks this week.
1:04.7	It's Monday, May 12th.
1:06.6	I'm Luke Vargas for the Wall Street Journal, and here is the AM edition of What's News,
1:11.4	the top headlines and business stories moving your world today.
1:18.9	The U.S. and China have sent stocks and the dollar surging this morning after both sides
1:24.8	cut tariffs by 115 percent, ending an effective embargo on trade.
1:31.3	Treasury Secretary Scott Besant and U.S. Trade Representative Jameson Greer also announced
1:36.1	a 90-day tariff pause in which substantial talks on trade with Beijing would take place.
1:42.3	Journal reporter Jason Douglas has been dissecting the news
1:45.4	coming in this morning. Jason, some of the details for us here. We've got a lot of tariffs.
	...

Transcript will be available on the free plan in 4 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Wall Street Journal, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Wall Street Journal and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.