Tuesday, May 13th, 2025 - US-China tariff truce; Trump’s Middle East tour; Drug prices EO; Hostage release, Israel-US tensions & more

Morning Announcements

Betches

News Commentary, Daily News, News, Politics

4.8 • 1.4K Ratings

🗓️ 13 May 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s Headlines: Following two days of trade negotiations in Switzerland, the US and China have agreed to a 90-day pause to finalize a long-term trade deal. In the interim, tariffs on Chinese imports will drop from 145% to 30%, while tariffs on US imports to China will decrease from 125% to 10%. However, small packages from China will still face a significant tariff of 120% or a flat fee. Meanwhile, President Trump signed an executive order pushing pharmaceutical companies to reduce prescription drug prices within 30 days or face potential regulation tying prices to international rates. Trump also prepares for a Middle East trip to Saudi Arabia, Qatar, and the UAE, reportedly aiming to announce trillion-dollar deals. This trip coincides with the release of American hostage Edan Alexander from Gaza after 19 months, facilitated by US-Hamas talks. In domestic politics, Trump appointed Todd Blanche, his former defense attorney, as the acting Librarian of Congress after ousting the previous librarian amid DEI policy changes. Additionally, tensions between Trump and Israeli PM Netanyahu have surfaced, partly due to recent US negotiations with Hamas and shifting policies in the Middle East. Resources/Articles mentioned in this episode: CNBC: China sees the U.S. trade deal as a huge win for Beijing Axios: Despite China trade deal, Trump maintains 120% tariff on cheap goods AP News: Trump signs executive order setting 30-day deadline for drugmakers to lower prescription drug costs NY Times: Trump Heads to the Middle East Focused on Business Deals, Not Diplomacy WA Post: Hamas frees U.S. hostage Edan Alexander in goodwill gesture to Trump WA Post: Trump repeatedly bypasses Netanyahu, stoking dismay among Israelis Axios: Trump naming his former defense attorney as acting Librarian of Congress Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today is Tuesday, May 13th, and you're listening to The Morning Announcements presented by Betches Media.
0:07.1	I'm your host, Sammy Sage, and The Morning Announcements is your daily five-minute breakdown of the headlines.
0:12.0	That isn't a megaphone for the loudest voices, but a magnifying glass for the most important news.
0:17.1	This episode of the Morning Announcements is sponsored by Quince.
0:20.6	Once the temperature started rising, I realized I was back in the same worn-out clothes rotation.
0:25.8	Same tank tops, same shorts, same everything.
0:29.1	So I gave my summer uniform an upgrade with Quince.
0:32.0	Their pieces are easy, elevated, and somehow make me feel more put together without even trying.
0:37.4	Treat your closet to a little summer glow up with quince.
0:40.3	Go to quince.com slash morning for free shipping on your order and 365 day returns.
0:46.0	That's quince.com slash morning.
0:51.5	Following two days of negotiations between U.S. and Chinese trade officials in Switzerland,
0:56.6	we have yet another 90-day pause in place while the two countries hash out a long-term trade agreement.
1:02.0	But in the meantime, the U.S. will cut the rate on Chinese imports from 145% to 30%,
1:07.5	while China will cut its rate on U.S. imports from 125% to 10%. Global markets predictably rallied upon news of the negotiation, with the Dow up over 1,100 points yesterday, though this is far from over.
1:21.4	Treasury Secretary Scott Besson told CNBC that the two sides are expected to meet again at some point over the next few weeks to
1:27.9	negotiate a quote more fulsome agreement like the actual agreement. Before you head to Sheehan,
1:34.0	a White House official said yesterday that small packages from China valued under $800, which were
1:39.0	previously categorized under the de minimis exemption. Those will still be subject to 120% tariffs or a flat $100 fee
1:46.5	per postal item, which will increase to $200 on June 1st. I guess it's time to thrift your wedding
1:52.4	guest dresses this year because shopping from Sheehan will be as much as Bloomingdale's for the
1:56.7	foreseeable future. Lots of big announcements from the Trumpable future.
	...

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