Apple News Today The U.S. and China agree to cut tariffs for 90 days. What to know.
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May 12, 2025 The U.S. and China have agreed to cut tariffs for 90 days, sparking hope in trade relations. The podcast discusses a significant radar outage at Newark airport that could lead to flight disruptions nationwide. Immigration news heats up as the Trump administration welcomes white South Africans, while Hamas plans to release the last living American hostage. Additionally, the pope makes headlines with his first sermon, calling for peace in a world filled with conflict and sharing insights on the societal effects of AI.
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US-China Tariff Truce
- The U.S. and China agreed to temporarily reduce tariffs, easing trade tensions significantly for 90 days.
- This pause offers a vital breathing space for global businesses and trade negotiations to progress.
China's Diplomatic Style and Caution
- China values backchannel diplomacy over direct leader-to-leader calls, signaling cultural negotiation differences.
- However, Chinese officials remain cautious, warning they will fight a trade war if forced despite preferring peace.
Business Concerns on Trade Pause
- Businesses seek predictability to make investment decisions amid trade uncertainty.
- Tariff changes may cause soaring transportation costs as companies rush shipments in the 90-day window.