Cabot Phillips

Have a listen to some of that speech.

Have a listen to some of that speech.

And after that, he made his final stop in the United Arab Emirates, where he again met with more business leaders to push for further investments in the American economy. And for people watching the video version of this show, which all of you should be doing, you can see that he was greeted with a traditional hair dance. Yes, that is a real thing.

And after that, he made his final stop in the United Arab Emirates, where he again met with more business leaders to push for further investments in the American economy. And for people watching the video version of this show, which all of you should be doing, you can see that he was greeted with a traditional hair dance. Yes, that is a real thing.

It was very cool to see that video has since gone viral. So Trump getting quite the warm welcome in Abu Dhabi.

It was very cool to see that video has since gone viral. So Trump getting quite the warm welcome in Abu Dhabi.

Absolutely.

Absolutely.

Well, if we've learned anything about Donald Trump in the last few years, it's that this is a man who loves cutting a good deal. And on Monday, we saw the most consequential deal of his second term come to fruition. After formal negotiations in Switzerland this weekend, China has now agreed to cut tariffs on American imports from 125% down to just 10%, while the U.S.

Well, if we've learned anything about Donald Trump in the last few years, it's that this is a man who loves cutting a good deal. And on Monday, we saw the most consequential deal of his second term come to fruition. After formal negotiations in Switzerland this weekend, China has now agreed to cut tariffs on American imports from 125% down to just 10%, while the U.S.

will cut rates from 145% to 10%. And importantly, Beijing has also agreed to suspend or outright cancel non-tariff countermeasures against the U.S. That means their existing ban on rare earth mineral exports could be coming to an end. They'll also remove dozens of American companies from a blacklist that had kept them from operating within China's borders.

will cut rates from 145% to 10%. And importantly, Beijing has also agreed to suspend or outright cancel non-tariff countermeasures against the U.S. That means their existing ban on rare earth mineral exports could be coming to an end. They'll also remove dozens of American companies from a blacklist that had kept them from operating within China's borders.

The new rates will apply for the next 90 days. In the meantime, the two sides will work on making a permanent deal. Here's President Trump announcing the deal from the White House Monday.

The new rates will apply for the next 90 days. In the meantime, the two sides will work on making a permanent deal. Here's President Trump announcing the deal from the White House Monday.

Now, this deal marks a stunning turnaround and reversal of hostilities. Ahead of this weekend's meetings, for example, even Treasury Secretary Scott Besant said the deal was a long ways off and that his goal heading in was de-escalation, not a big trade deal. That's a direct quote. But clearly, the Chinese were more willing to negotiate than many had expected.

Now, this deal marks a stunning turnaround and reversal of hostilities. Ahead of this weekend's meetings, for example, even Treasury Secretary Scott Besant said the deal was a long ways off and that his goal heading in was de-escalation, not a big trade deal. That's a direct quote. But clearly, the Chinese were more willing to negotiate than many had expected.

For their part, Beijing signed on to a joint statement that referenced a, quote, spirit of mutual opening, continued communication, cooperation, and mutual respect. So they're showing a little love there. That's quite a different message than we heard last month. Indeed. The Chinese were calling the U.S. bullies, saying they were going to make us pay, etc.,

For their part, Beijing signed on to a joint statement that referenced a, quote, spirit of mutual opening, continued communication, cooperation, and mutual respect. So they're showing a little love there. That's quite a different message than we heard last month. Indeed. The Chinese were calling the U.S. bullies, saying they were going to make us pay, etc.,

As more proof of these improving relations, the two sides also agreed to establish a formal process for future streamlined trade talks that includes the use of a third country as a mediator.

As more proof of these improving relations, the two sides also agreed to establish a formal process for future streamlined trade talks that includes the use of a third country as a mediator.