The U.S. and China agreed to suspend most tariffs for 90 days following high-stakes weekend trade negotiations in Geneva, Switzerland over the weekend.
The details: The agreement will see both nations slash their tariffs from 125 percent to 10 percent during the three-month reprieve. A separate 20 percent tariff on China for its role in the fentanyl trade will remain in place.
Treasury Secretary Scott Bessent said Sunday the talks led to “substantial progress,” and U.S. Trade Rep. Jamieson Greer added that the differences were “not as large as maybe thought.”
China echoed the optimism, calling the pending joint statement “good news for the world.”
Markets react: U.S. stock futures surged, with the tech-heavy NASDAQ rising more than three percent. The dollar and bonds also jumped.
Trump reacts: President Trump struck an optimistic tone on Sunday, writing:
“A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset negotiated in a friendly, but constructive, manner. We want to see, for the good of both China and the U.S., an opening up of China to American business. GREAT PROGRESS MADE!!!”
What happens next? Talks will continue, led by Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng.
These terms go into effect on Wednesday.
Peace is in the air: Over the weekend, President Trump also announced that India and Pakistan agreed to a “full and immediate ceasefire” following negotiations mediated by the United States.
The U.S. and China agreed to suspend most tariffs for 90 days following high-stakes weekend trade negotiations in Geneva, Switzerland over the weekend.
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❓What Happened: Arizona has established a Strategic Bitcoin Reserve by enacting House Bill 2749.
👥 Who’s Involved: Governor Katie Hobbs (D), State Representative Jeff Weninger (R), Satoshi Action Fund, and cryptocurrency exchange Coinbase.
📍 Where & When: Arizona, with the bill signed into law on Thursday, May 8, 2025.
💬 Key Quote: “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” said Dennis Porter, CEO of the Satoshi Action Fund.
⚠️ Impact: The law aims to transform unclaimed state assets into appreciating digital stores of value, positioning Arizona as a leader in digital asset management.
IN FULL:
Arizona has taken a significant step into the digital financial realm by establishing a Strategic Bitcoin Reserve, becoming the second state in the U.S. to do so. Governor Katie Hobbs (D) signed House Bill 2749 into law on May 8, 2025, officially launching the Arizona Bitcoin & Digital Assets Reserve. This innovative legislation redirects profits from unclaimed property into Bitcoin and other leading digital assets.
The bill, championed by State Representative Jeff Weninger (R), introduces a strategic approach to managing idle state assets. It includes provisions for using interest and staking rewards from abandoned property to fund acquisitions, while ensuring strong diversification rules to prevent Bitcoin from dominating the state’s investment portfolio. The law mandates U.S.-regulated custody for these assets and outlines clear steps for implementation, allowing the state to begin purchasing digital assets.
Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund, a key advocate for the bill, praised the move. “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” Porter stated. He emphasized that the law converts dormant dollars into “digital gold” without impacting taxpayers.
Cryptocurrency exchange Coinbase also played a crucial role by providing expert testimony, which helped legislators understand the financial and technological implications of Bitcoin-based reserves. This support was pivotal in overcoming legislative hurdles and securing bipartisan backing for the bill.
The law aligns Arizona with New Hampshire in utilizing idle state assets as potentially appreciating stores of value, aiming to safeguard the treasury without raising taxes or dipping into the general fund. Representative Weninger highlighted the legislation’s importance, stating, “Digital assets aren’t the future—they’re the present.” He underscored the law’s role in ensuring Arizona doesn’t leave value on the table and positions the state to lead in digital currency management.
The National Pulse reported in March that President Donald J. Trump laid out key details of his plan to establish a national Bitcoin reserve, issuing an Executive Order creating a federal government reserve of Bitcoin with the goal of retaining an estimated 200,000—mainly sourced through cryptocurrency assets already seized by federal agencies in criminal proceedings.
❓What Happened: Transgenders in the U.S. military are being given between 30 and 60 days to self-separate after the Supreme Court cleared the way for the Trump administration to enforce a ban on their service.
👥 Who’s Involved: Defense Secretary Pete Hegseth, approximately 1,000 transgender service members, and the Supreme Court.
📍 Where & When: U.S. military, with deadlines for self-separation being set by June 6 for active duty and July 7 for reservists, according to a Department of Defense (DOD) memo published on Thursday, May 9, 2025.
💬 Key Quote: “After a SCOTUS victory for [President Trump], TRANS is out at the DOD,” Hegseth announced on X (formerly Twitter).
⚠️ Impact: The ruling affects military readiness policies and a broader effort to remove diversity, equity, and inclusion policies at the Department of Defense (DOD).
IN FULL:
The Department of Defense (DOD) has initiated a timeline for transgender service members to voluntarily separate from the military following a Supreme Court order clearing the way for a ban on their service in the U.S. military. A recent memo from Defense Secretary Pete Hegseth outlines that approximately 1,000 service members who have identified as having gender dysphoria must begin the process of self-separation. Active duty members are required to exit by June 6, with reservists having until July 7 to comply.
This development follows the Supreme Court’s decision to stay a lower court ruling, effectively allowing the Trump administration’s ban on transgender troops to proceed. The administration argues that this policy is essential for maintaining military readiness, unit cohesion, and avoiding the disproportionate costs associated with transgenders’ need for often lifelong medical care.
Pentagon spokesman Sean Parnell expressed satisfaction with the court’s decision, stating: “The Secretary is encouraged by the Supreme Court’s order staying the lower court’s injunction, allowing the Department of Defense to carry out its policies associated with ‘Prioritizing Military Excellence and Readiness.'”
Hegseth, in an announcement on X (formerly Twitter), declared, “After a SCOTUS victory for [President Trump], TRANS is out at the DOD.” He further noted that service members with a current diagnosis or history of gender dysphoria could choose to separate voluntarily by the set deadlines, or face involuntary removal if they fail to do so.
The Trump administration’s policy, initially introduced via Executive Order in January, mandates updates to medical standards to prioritize readiness and lethality. It also seeks to eliminate the use of invented and identification-based pronouns within the Department of Defense.
The Pentagon’s move is part of a broader initiative to eliminate policies related to diversity, equity, and inclusion (DEI) and gender ideology. Hegseth recently announced that nearly all DEI-related policies have been removed from the Department, alongside efforts to standardize fitness tests for men and women.
From January 2016 to May 2021, the Department of Defense reportedly spent around $15 million on transgender treatments for active-duty service members. This financial aspect has been a point of contention in discussions about military spending and readiness.
❓What Happened: Mexico is suing Google for listing the Gulf of Mexico as the Gulf of America on Google Maps for U.S. users.
👥 Who’s Involved: President Claudia Sheinbaum, Google, President Donald J. Trump, the Republican-led House of Representatives.
📍 Where & When: Sheinbaum announced the lawsuit on Friday, May 9, 2025; the name change was initiated in January with Trump’s Executive Order.
💬 Key Quote: “All we want is for the decree issued by the U.S. government to be complied with,” President Sheinbaum stated, asserting that Trump’s order to rename the Gulf only applies to the U.S.’s portion of the continental shelf.
⚠️ Impact: The renaming has led to international tensions and a legal dispute, with broader implications for U.S. foreign relations.
IN FULL:
Mexico has initiated legal action against Google for its decision to rename the Gulf of Mexico as the Gulf of America on its Maps platform for U.S. users, according to Mexican President Claudia Sheinbaum. The controversy began when the Republican-controlled House of Representatives voted to officially rename the Gulf for federal agencies. This move followed an executive order signed by President Donald J. Trump on his first day in office, arguing that Americans “do most of the work there, and it’s ours.”
President Sheinbaum has expressed her government’s stance that Trump’s order should apply solely to the U.S. portion of the continental shelf, insisting that the U.S. does not possess the authority to rename the entire Gulf. “All we want is for the decree issued by the U.S. government to be complied with,” she stated.
In January, Sheinbaum reached out to Google, requesting a reconsideration of the name change. When no action was taken, she threatened legal proceedings in February. Google has maintained that the change aligns with its “longstanding practice” of adopting name changes when updated by official government sources. The tech giant clarified that the Gulf’s name would remain unchanged for users in Mexico, while users globally would see “Gulf of Mexico (Gulf of America).”
The Associated Press (AP) has also been caught in the crossfire. Its refusal to adopt the new name led to a prolonged conflict with the White House, which restricted AP’s access to certain events until a federal judge intervened in April.
Further complicating matters, President Trump hinted at potentially renaming another body of water. During an upcoming visit to Saudi Arabia, he intends to announce that the U.S. will refer to the Persian Gulf as the Arabian Gulf or the Gulf of Arabia. This has prompted a strong reaction from Iranian Foreign Minister Abbas Araqchi, who hopes the “absurd rumours” are merely a “disinformation campaign,” warning that such actions would provoke significant backlash from Iranians.
❓What Happened: The U.S. has granted refugee status to 54 white Afrikaner South Africans, who are expected to arrive in Washington, D.C., soon.
👥 Who’s Involved: The U.S. and South African governments, President Donald J. Trump, and 54 Afrikaner refugees.
📍 Where & When: Expected arrival at Dulles International Airport, Washington, D.C., as soon as Monday.
💬 Key Quote: “The Department of State is prioritising consideration for U.S. refugee resettlement of Afrikaners in South Africa who are victims of unjust racial discrimination,” said a State Department spokesman.
⚠️ Impact: The move marks a significant shift in U.S. refugee policy, with expedited processing for Afrikaners, and raises questions about the treatment of South Africa’s centuries-old white minority.
IN FULL:
The United States has granted refugee status to 54 white Afrikaner South Africans,with their arrival in Washington, D.C. expected as early as Monday. This follows an executive order by President Donald J. Trump, who in February directed his administration to prioritize Afrikaners—descendants of mostly Dutch settlers whose presence in the country dates to 1652—citing government discrimination against them.
The U.S. refugee settlement program was suspended by Trump on his first day in office, leaving over 100,000 approved refugees from countries like the Democratic Republic of Congo and Afghanistan in limbo. However, the recent executive order has expedited the process for Afrikaners, who face having their farmland expropriated from them by the state, without compensation, under new laws. Similar legislation passed in neighboring Zimbabwe by the late President Robert Mugabe saw whites driven from their land, and in some cases, killed en masse.
White farmers in South Africa already face a disproportionate number of home invasions and murders, with the authorities turning a blind eye to large-scale rallies calling for their extermination.
Sources indicate that U.S. officials are coordinating the logistics of the Afrikaners’ arrival, with a charter flight to Dulles International Airport being considered. High-level officials from the Departments of State and Homeland Security are expected to greet the refugees upon arrival, a relatively unusual gesture.
While the exact arrival date remains unconfirmed, the State Department has emphasized its focus on Afrikaners facing “unjust racial discrimination.” This expedited processing contrasts with the typical 18 to 24 months it usually takes for refugee resettlement in the U.S.
❓What Happened: British Airways has announced a major deal to purchase 32 Boeing airplanes following the finalization of a landmark bilateral trade deal between the United States and the United Kingdom.
👥 Who’s Involved: British Airways and its parent company, IAG; Boeing; IAG CEO Luis Gallego, President Donald J. Trump, Commerce Secretary Howard Lutnick, and British Prime Minister Sir Keir Starmer.
📍 Where & When: British Airways announced the Boeing purchase on Friday, the landmark trade deal was announced in Washington, D.C., on Thursday, May 8, 2025.
💬 Key Quote: “Looking ahead to the next decade, these new aircraft will enable us to strengthen our core markets and further improve our customer experience, while continuing to drive long-term value for our shareholders,” said IAG CEO Luis Gallego.
⚠️ Impact: The airline purchase is one of the first major transactions following the finalization of the U.S.-UK bilateral trade agreement.
IN FULL:
The United Kingdom’s British Airways has inked a $13 billion deal to purchase 32 Boeing airplanes, according to its parent company, IAG. The deal was announced on Friday after U.S. President Donald J. Trump and British Prime Minister Sir Keir Starmer finalized a major bilateral trade agreement on Thursday.
Describing the Boeing deal as a “milestone,” IAG CEO Luis Gallego said: “Looking ahead to the next decade, these new aircraft will enable us to strengthen our core markets and further improve our customer experience, while continuing to drive long-term value for our shareholders.”
The major purchase was referenced by President Trump and his Commerce Secretary, Howard Lutnick, on Thursday during the press availability after announcing the landmark bilateral trade deal with the United Kingdom. Both Trump and Lutnick emphasized that part of the agreement would end tariffs on Rolls-Royce, a British automotive and engine company that manufactures airline engines—including those used on a number of Boeing plane models.
Boeing and its chief competitor, Airbus, are the two largest airline manufacturers in the world, and together dominate the global market. China learned this fact the hard way when Chinese Communist Party (CCP) officials, in response to President Trump’s imposition of a 145 percent tariff on Chinese exports, halted acceptance of Boeing planes and parts deliveries. However, that move was quickly reversed as it became apparent that China’s domestic airline industry would not be able to function without the new airlines and parts.
❓What Happened: Joe Biden holdover Ricky Buria has been blocked from becoming Defense Secretary Pete Hegseth’s permanent chief of staff by the White House, after The National Pulse exposed his past attacks on President Donald J. Trump and Vice President J.D. Vance.
👥 Who’s Involved: Ricky Buria, Pete Hegseth, Vice President J.D. Vance, President Trump, and Jennifer Hegseth.
💬 Key Quote: “There is an ideological component to this,” said a Buria critic.
⚠️ Impact: Buria’s rise has caused internal strife and raised concerns about security protocols and political alignment within the Pentagon.
IN FULL:
Pentagon aide Ricky Buria, known to some as “Rasputin Ricky,” has been blocked by the White House from becoming Defense Secretary Pete Hegseth’s chief of staff. The news comes after an exclusive exposé published by The National Pulse, which shed light on previously unknown background information about Buria.
On April 22, The National Pulse described how Buria, a former aide to Biden-era Secretary of Defense Lloyd Austin, was amassing power at the Pentagon. A donation in 2023 to Democratic candidate Mike O’Brien via the notorious ActBlue platform was noted, particularly as O’Brien also received an endorsement from VoteVets—a partisan group that alleges President Trump “hates veterans” and called for Hegseth to be fired over “Signalgate.”
Buria has disparaged President Trump and Vice President Vance on many occasions, describing the latter’s foreign policy stance as “wackamamie crazy” and “isolationist.” He also blasted President Trump’s moves to use the military to assist with immigration enforcement as “dumb.”
Buria’s recent rise had been marked by internal clashes, including his role in dismissing three top aides, including the anti-war Dan Caldwell.
“Hegseth [was] elevating a Democrat who does not share the Vice President or the President’s worldview and who weaponized his position to push out internal rivals, including people who had very strong histories of being supporters of the MAGA agenda,” one source told the New York Post.
Security concerns have also been raised, with reports of Buria flouting protocols by bringing personal devices into secure areas. His close relationship with Hegseth has drawn comparisons to the Russian mystic Rasputin, with Buria reportedly wielding significant influence over departmental decisions.
“This is without question the worst in a string of bad judgment calls recently by Secretary Hegseth,” said one source of Buria’s elevation.
Following The National Pulse’s report, the White House personnel office is understood to have assessed Buria’s credentials, ultimately refusing him the chief of staff position. It is currently unclear whether Buria will remain in the department at all.
❓What Happened: President Donald J. Trump urged China to open its markets to the U.S. and suggested reducing tariffs on Chinese goods.
👥 Who’s Involved: President Donald Trump, Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, Chinese officials.
📍 Where & When: Comments made in Washington, D.C. on Friday; meetings between the U.S. and China set in Switzerland over the weekend.
💬 Key Quote: “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” – President Trump on Truth Social.
⚠️ Impact: Potential reduction in tariffs and improved trade relations between the U.S. and China.
IN FULL:
President Donald J. Trump has called for China to open its markets to the United States, suggesting a potential reduction in tariffs on Chinese imports. This announcement comes ahead of planned trade discussions between American and Chinese officials in Switzerland this weekend.
On Friday, Trump took to his Truth Social platform, emphasizing the benefits for China if it opens its markets to American goods. He stated, “CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!” In a subsequent post, he mentioned, “80% Tariff on China seems right! Up to Scott B,” referring to Treasury Secretary Scott Bessent.
Currently, tariffs on most Chinese goods stand at 145 percent, a figure established last month following China’s retaliatory measures against U.S. tariffs. Meanwhile, China has imposed a 125 percent levy on most American products. Speaking in the Oval Office on Thursday, Trump indicated that these tariffs would not increase further and could only decrease. “It’s at 145, so we know it’s coming down,” he remarked, expressing optimism about future relations with China.
Treasury Secretary Bessent and U.S. Trade Representative Jamieson Greer are scheduled to meet with Chinese counterparts in Geneva over the weekend to negotiate a trade deal. Greer commented on the upcoming talks, saying, “At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security.” He anticipates productive discussions with his international counterparts.
Bessent has described the current economic dynamics with China as “unsustainable” and emphasized the U.S. desire for “fair trade” without a complete decoupling from China.
In related trade developments, Trump announced a significant trade agreement with the United Kingdom on Thursday. This deal aims to enhance U.S. market access in Britain for billions of dollars worth of American exports. However, a 10 percent baseline tariff on many British goods remains, with specific exceptions for Rolls-Royce engines and airplane parts, among other products.
❓What Happened: President Donald J. Trump terminated Carla Hayden as the Librarian of Congress.
👥 Who’s Involved: President Trump, Carla Hayden, Trent Morse, Robert Newlen, congressional Democrats, and the American Accountability Foundation.
📍 Where & When: Washington, D.C.; termination announced on Thursday.
💬 Key Quote: “On behalf of President Donald J. Trump, I am writing to inform you that your position as the Librarian of Congress is terminated effective immediately.” – Trent Morse
⚠️ Impact: Democrats criticized the dismissal, claiming it undermines public service and could affect libraries nationwide.
IN FULL:
President Donald J. Trump has removed Carla Hayden from her position as the Librarian of Congress. The Obama appointee received an email informing her, “On behalf of President Donald J. Trump… your position as the Librarian of Congress is terminated effective immediately. Thank you for your service.” Robert Newlen, the Principal Deputy Librarian, informed library staff of the change, indicating he would temporarily assume the duties of the Librarian of Congress.
The American Accountability Foundation (AAF) had been calling for Hayden’s termination, writing in the hours before its announcement that she was “woke, anti-Trump, and promotes trans-ing kids.”
The first black person and the first woman to hold the position, her 10-year term had been set to expire next year. Her early removal has prompted strong reactions from Democrats. Rep. Joe Morelle of New York, a leading Democrat on the House Administration Committee, criticized the decision and plans to propose legislation ensuring Congress appoints future Librarians of Congress.
Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries also condemned the move, with Schumer also pushing for Congress to usurp the executive’s control over the appointment process.
What Happened: President Donald J. Trump is once again pushing for a 30-day ceasefire between Russia and Ukraine, threatening sanctions if either country violates the suspension of hostilities. He hopes a ceasefire can pave the way for a peace deal between the warring nations.
👥 Who’s Involved: President Donald J. Trump, Russian President Vladimir Putin, and Ukrainian President Volodymyr Zelensky.
📍 Where & When: President Trump called for a ceasefire in a post on Truth Social on Thursday, May 8, 2025.
💬 Key Quote: “If the ceasefire is not respected, the U.S. and its partners will impose further sanctions,” President Trump warned.
⚠️ Impact: With the Russian economy beginning to show signs of strain under current U.S. sanctions, and Putin even expressing a desire to re-establish access to Western markets, the 30-day ceasefire demand may be too much for him to pass up. The Russian leader has already signalled he is open to a shorter-term cessation of hostilities. However, this may be the final efforts of the Trump White House to broker an end to the conflict before washing their hands of the issue.
IN FULL:
President Donald J. Trump is calling for an unconditional 30-day ceasefire between Russia and Ukraine, threating that the United States and its partners will impose crippling sanctions on whichever of the two nations either refuse the agreement or violate it. The America First leader outlined the ceasefire proposal in a post on Truth Social late Thursday, May 8, 2025.
“The U.S. calls for, ideally, a 30-day unconditional ceasefire. Hopefully, an acceptable ceasefire will be observed, and both Countries will be held accountable for respecting the sanctity of these direct negotiations,” Trump wrote, continuing: “If the ceasefire is not respected, the U.S. and its partners will impose further sanctions.”
He added: “Thousands of young soldiers are dying on a weekly basis, and everybody should want it to STOP. I do, and the United States of America does, also. As President, I will stay committed to securing Peace between Russia and Ukraine, together with the Europeans, and a Lasting Peace it will be!”
Trump emphasized that the ceasefire demand is intended to “ultimately build toward a Peace Agreement” and that it must be done “quickly.” Additionally, President Trump offered to be “available on a moment’s notice” to help broker a peace deal between Russia and Ukraine.
Earlier in the week, Trump expressed his disgust and anger with the intransigence shown by both the Russian and Ukrainian governments toward a peace deal. Meanwhile, Vice President J.D. Vance, speaking at the Munich Leaders Meeting in Washington, D.C., said that Russia is “asking for too much” in return for ending its war against neighboring Ukraine, highlighting the Trump White House’s continued frustration with reaching an elusive peace settlement.
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