US and China Agree to Slash Tariffs & Time to Overhaul Air Traffic Control?

Morning Brew Daily

Morning Brew

News, Business, Business News

4.4 • 2.8K Ratings

🗓️ 12 May 2025

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 580: Neal and Toby discuss the latest trade news where the US and China agreed to a tariff deal for the next 90 days while talks are still ongoing. Then, another flight fiasco in Newark Airport prompts the Federal government to propose an overhaul of air traffic control. Next, Elizabeth Holmes’ husband is reportedly raising millions for a blood-testing startup…sound familiar? Also, companies are facing increased scrutiny for ‘bait and switch’ pricing tactics. Meanwhile, trade talks with China continue to cool tensions and Olivia and Liam continue to be popular baby names. Finally, what you need to know in the week ahead. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Visit iterable.com/endthecampaign for more Listen to Morning Brew Daily Here: https://www.swap.fm/l/mbd-note Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Why are people from around the world calling Minnesota home?
0:03.5	Is it the friendly welcoming culture, the stunning natural beauty, the strong, diverse economy,
0:09.0	and access to world-class health care, affordable homeownership, and great education?
0:13.5	It's all those things.
0:14.8	See why Minnesota is ranked the least stressed state in the nation.
0:17.9	Learn more about the star of the north at ExploreMnesota.com slash live the north at exploreminnesota.com slash live.
0:21.9	That's explore Minnesota.com slash live.
0:27.2	Good morning, Brew Daily show. I'm Neil Pryman. And I'm Toby Howell.
0:31.4	Today, a biotech startup eerily similar to Theranos is raising funding. Investors,
0:37.1	possibly you, until you find out who's behind it.
0:40.5	Then say goodbye to those sneaky, sneaky checkout fees. A new FDC rule cracks down on
0:46.1	bait in switch pricing. It's Monday, May 12th. Let's ride.
1:02.5	This weekend was beautiful here in New York City, but I was also thinking it'd be nice to have a pool to cool off.
1:07.0	Turns out the U.S. and China were thinking the same thing when it comes to their trade war.
1:11.7	After talks in Switzerland this weekend, the U.S. and China agreed to a significant reduction in tariffs on each other for a 90-day cool-off period. The U.S. is lowering its
1:17.3	tariffs on China from 145% to 30%, while China is lowering its tariffs on the U.S. from
1:24.5	125% to 10%. These temporary reductions give businesses a big break from what had been
1:31.6	devastating import fees and allow the U.S. and China to hammer out a more concrete agreement
1:36.1	over the next three months. Stocks are ripping this morning with the NASDAQ up nearly 4%
1:41.3	and the S&P 500, nearly 3%. It really reads like the U.S. and China went through marriage counseling over the weekend.
1:48.0	We concluded that we have shared interest, Treasury Secretary Scott Bassett said at a news conference
1:53.7	in Geneva. What does this mean for businesses? You'll probably see a pulling forward of demand
	...

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