From CNN, I'm Afamadikai, with the five things you need to know for Monday, May 12th.

President Donald Trump says tariffs on Chinese imports, quote, would go up substantially higher than the 30% rate if a deal isn't reached in 90 days.

But he said they wouldn't go back to 145%. This follows a weekend of Sino-U.S. trade talks in

Geneva that led to a breakthrough. The U.S. agreed to temporarily lower its overall tariffs on

Chinese goods from 145% to 30%, while Beijing agreed to reduce tariffs on American imports from

125% to 10%.

The truce excited Wall Street investors, but the Dow soaring to about 1,000 points or 2.3%

at one point earlier today.

Kevin Hassett, the director of the National Economic Council of the United States, called

the de-escalation a, quote, historic fresh start.

That's the way to think about these negotiations, that we've come in with these reciprocal tariffs.

We've described the non-tariff barriers and tariffs that disadvantaged American workers,

and folks are coming to the table, and it's really stunning how quickly they're moving

and how dramatic the changes are.

Trump says he may speak with Chinese President Xi Jinping

at the end of the week.

An American held by Hamas since the October 7th attack

is on his way to freedom.

21-year-old Eden Alexander is the last known living American hostage in Gaza and has just

been handed over to the Israeli military to be reunited with his family. The move comes after several

days of talks between the U.S. and Hamas as part of an effort to reach a ceasefire and resume the flow

of humanitarian aid into Gaza. It also comes just before President Trump begins a Middle East tour that will not include Israel.

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