The Rundown U.S. & China Agree to Temporary Tariff Cuts, Trump Signs Executive Order Aimed at Drug Prices
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May 12, 2025 Explore a significant trade agreement between the U.S. and China that aims to cut tariffs, and hear about Trump’s executive order on drug prices. Discover how these shifts impact major retailers and the stock market, highlighting unexpected movements like Kinley MD's merger. Learn about the ongoing challenges Apple faces with a hefty 20% tariff on iPhones, and how they must navigate possible price increases while engaging consumers effectively.
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Temporary U.S.-China Tariff Relief
- U.S. and China agreed to slash tariffs for 90 days to ease the trade war tensions.
- Tariffs on Chinese imports drop from 145% to 30%, and China cuts U.S. tariffs from 125% to 10%.
Trump's Drug Price Plan
- President Trump's executive order aims to cut U.S. drug prices by 30 to 80 percent with a global price cap.
- This plan could drastically shake up Big Pharma if it holds up legally.
OpenAI-Microsoft Restructuring Talks
- OpenAI is negotiating a new corporate structure with Microsoft to enable a future IPO.
- Microsoft’s $13 billion investment grants access to AI IP and revenue share, but renewal and equity terms are in discussion.