CNN 5 Things Trade war thawing, Trump’s big trip, Diddy opening statements & more
May 12, 2025
The thawing trade war between the US and China brings a potential tariff rollback. President Trump is set to visit the Middle East while planning controversial drug price reforms, likely facing opposition. There's a forecasted decline in US oil production next year amid rising OPEC output. Additionally, all eyes are on the trial of Sean 'Diddy' Combs, whose opening statements are highly anticipated. Tune in for insights on these pressing issues!
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US-China Trade War Thaw
- The US-China trade war is temporarily easing with a significant tariff rollback for 90 days.
- Both countries emphasize mutual respect, but China remains cautious in negotiations.
Trump's Middle East Visit Focus
- President Trump's Middle East visit includes stops in Saudi Arabia, Qatar, and UAE, focusing on energy and defense.
- Major defense deals are unlikely without Congressional approval.
Drug Price Cut Plan
- Trump plans an executive order to cut drug prices by 30 to 80 percent immediately.
- This policy revisits a controversial approach and may face strong pharmaceutical industry opposition.