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

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