Morning Brew Daily
US and China Agree to Slash Tariffs & Time to Overhaul Air Traffic Control?
12 May 2025
Episode 580: Neal and Toby discuss the latest trade news where the US and China agreed to a tariff deal for the next 90 days while talks are still ongoing. Then, another flight fiasco in Newark Airport prompts the Federal government to propose an overhaul of air traffic control. Next, Elizabeth Holmes’ husband is reportedly raising millions for a blood-testing startup…sound familiar? Also, companies are facing increased scrutiny for ‘bait and switch’ pricing tactics. Meanwhile, trade talks with China continue to cool tensions and Olivia and Liam continue to be popular baby names. Finally, what you need to know in the week ahead. Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Visit endthecampaign.com for more Listen to Morning Brew Daily Here: https://www.swap.fm/l/mbd-note Watch Morning Brew Daily Here: https://www.youtube.com/@MorningBrewDailyShow
Full Episode
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, a biotech startup eerily similar to Theranos is raising funding. Investors? Possibly you. Until you find out who's behind it.
Then say goodbye to those sneaky, sneaky checkout fees. A new FTC rule cracks down on bait and switch pricing. It's Monday, May 12th. Let's ride.
This weekend was beautiful here in New York City, but I was also thinking it'd be nice to have a pool to cool off. Turns out the U.S. and China were thinking the same thing when it comes to their trade war. After talks in Switzerland this weekend, the U.S. and China agreed to a significant reduction in tariffs on each other for a 90-day cool-off period. The U.S.
is lowering its tariffs on China from 145% to 30%. while China is lowering its tariffs on the U.S. from 125% to 10%. These temporary reductions give businesses a big break from what had been devastating import fees and allow the U.S. and China to hammer out a more concrete agreement over the next three months. Stocks are ripping this morning, with the Nasdaq up nearly 4% and the S&P 500 nearly 3%.
It really reads like the U.S. and China went through marriage counseling over the weekend. We concluded that we have shared interests, Treasury Secretary Scott Besant said at a news conference in Geneva. What does this mean for businesses? You'll probably see a pulling forward of demand again as trade
Companies and consumers try to furiously schedule shipments that take place during this 90-day negotiating window. And speaking of 90-day windows, the 90-day pause on elevated U.S. tariffs on most other countries instituted back in April, that is set to expire on July 9th, while this China window extends to August 10th.
So those are kind of the two dates that you need to have circled on your calendar. As for stocks, they are ripping right now, and they are on track as of now. to open above where they stood on April 2nd, the day that Trump's Liberation Day tariffs were announced. And now a word from our new sponsor, Iterable.
Neil, you ever see one of those giant domino setups, like a thousand little titles, all perfectly spaced, just waiting for the first push?
Oh yeah, but if there's one little tile out of place, game over. That's what running old school marketing campaigns feels like. Months of setup, but everything's too rigid.
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