The President's Daily Brief PDB Afternoon Bulletin | May 9th, 2025: Trump Floats Major Chinese Tariff Cut & Ukraine Busts Hungarian Spy Network
May 9, 2025
President Trump proposes significant tariff cuts on Chinese imports as U.S. and Chinese officials prepare for crucial trade talks in Switzerland. Meanwhile, Ukraine accuses Hungary of espionage, dismantling a spy network that jeopardized its defenses. The tension between the two countries escalates as arrests are made. The discussion also touches on personal finance strategies, including investing in precious metals and the rising trend of home fitness with an emphasis on strength training.
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Trump's Big Tariff Concession
- President Trump suggests cutting the 145% tariff on Chinese goods to about 80%, signaling a possible easing in trade tensions.
- China is quietly exempting some U.S. goods from retaliatory tariffs, showing eagerness to de-escalate despite public hardline rhetoric.
Tariff War Devastates China Economy
- China's export-dependent economy struggles under the tariff war with factory activity contracting sharply.
- Over 16 million Chinese industrial jobs are at risk due to plummeting export orders.
Ukraine Busts Hungarian Spy Network
- Ukraine uncovered a Hungarian spy network gathering intelligence on its defense near their border.
- This espionage accusation worsens already tense Ukraine-Hungary relations amid Hungary's pro-Russian stance.