News Summary May 12, 2025
Today’s Top Story: US and China Reach Deal to Temporarily Slash Tariffs, Easing Slump Fear
In our top story today, the United States and China have agreed to temporarily slash reciprocal tariffs in a deal that surpassed expectations as the world's two biggest economies seek to end a damaging trade war that has stoked fears of recession and roiled financial markets. Effective for 90 days, the U.S. will cut extra tariffs it imposed on Chinese imports in April this year to 30% from 145% and Chinese duties on U.S. imports will fall to 10% from 125%...
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