HOT TOPICS | When Trump Sounds Like Bernie: Did MAGA Just Go Left? - May 12th, 2025
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What is the main topic discussed in this episode?
Good Monday morning, Lemon Nation. Nikki, how you doing? How was your Mother's Day? How was your weekend? It was lovely. It was lovely. Nice relaxing weekend. And to all the mothers out there, happy Mother's Day. Hope you were able to get some relaxation time and have some time for you. Yeah. Yeah. I reached out. Unfortunately, I couldn't spend time with my mom on Sunday, but I gave her a call. I sent her some flowers and I gave her a call. We chatted for almost an hour last night. It was lovely. I'm sure we have a lot of mothers in the chat. I hope your children sent you flowers, cooked you dinner, spent time with you. Just to give everyone an update, Don's doing all right. He will be back soon. He just needed today.
You have us. Yeah, for those of you who may have missed some of our shows last week, Don's sister sadly passed away last Monday, so he's just been dealing with that, spending time with his mom, with the rest of his family, and he will be back soon. Maybe as soon as 5 p.m. this evening for the Live at 5, but likely tomorrow morning. We'll see. We'll keep you updated when we have more. But let us know in the meantime. Yes. You stuck with us. Let us know where you're streaming from. Make sure you hit that like button. Make sure you subscribe and consider becoming a member if you feel like it. Nikki, we have some big breaking news. Some tariff news. The China tariffs that were on and then off and then on and then off and then up and then down and then up even further.
We've got some some major developments there. Let's let's get a word from our friends over at ABC News to break it all down.
The trade war and news breaking overnight that China and the U.S. have reached a short term agreement. Our senior political correspondent, Rachel Scott, is tracking the latest on this trade deal. Good morning, Rachel.
Michael, good morning to you. And this is a breakthrough in talks between the world's two largest economies. But it's also a dramatic retreat from President Trump's 145 percent tariffs that he imposed on Chinese imports. After all of the tough talk and hard lines, both sides agreeing to dramatically roll back their tariffs, at least for now. This morning, the Trump administration, emerging from a marathon weekend of negotiations, announcing the US has reached a trade deal with China to significantly lower most tariffs for 90 days.
We have reached an agreement on a 90-day pause and substantially moved down the tariff levels
The U.S. agreed to roll back its steep 145% tariff on Chinese imports to 30%, and China agreeing to lower its tax on American goods from 125% to 10%. For weeks, the president has been defiant about keeping his tariffs in place, even as markets tumbled and retailers warned their shelves could go empty.
I know what the hell I'm doing. I know what I'm doing and you know what I'm doing too. China took a hard line to insisting no matter how long the trade war lasts will never yield.
But just as both sides touched down in Geneva, Switzerland for those high stakes talks, the president with a change in tone suggesting he would be willing to drop his tariffs even lower to 80%. The deal the US reached as much lower than that.
We concluded that we have. shared interest. The consensus from both delegations this weekend is neither side wants a decoupling on Wall Street stock futures surging as the U.S.
and China returned back to the negotiating table in hopes of reaching a long term deal. So investors are rejoicing this morning, but the full economic impact of this on and off again trade war still remains very unclear at this point. That question will be answered likely in 90 days as these two sides continue their negotiations, Michael. The art of the deal, Nikki. The art of the deal. Oh, yeah. He knows exactly what he's doing. He's a very stable genius. He's killing it. Andy, can we throw up that one full screen just so we can show folks? Yeah, let's let's take a look at the Chinese tariffs over the course of the last few months. So we had them at 10 percent way back on February 1st.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:15–6:57
2
What are the latest developments in the US–China tariff negotiations and how did markets react?
6:57–10:10
3
How did the administration arrive at rolling back tariffs from 145% to 30% for 90 days?
10:10–21:14
4
What effects have tariff swings had on American small businesses and supply chains?
21:14–1:01:45
Speakers
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