MxM News

Quick Hit:

Ukrainian President Volodymyr Zelensky has signaled his willingness to meet “personally” with Russian President Vladimir Putin in Istanbul for potential peace talks, but only if Russia agrees to a full ceasefire starting Monday.

Key Details:

• Zelensky agreed to meet Putin in Istanbul next week but insists a ceasefire must start Monday.
• Trump urged Zelensky to attend talks immediately, warning delay could cost progress.
• Putin offered direct negotiations “without any preconditions,” signaling shift in tone.

Starting tomorrow, we await a ceasefire — this proposal is on the table. A full and unconditional ceasefire, one that lasts long enough to provide a necessary foundation for diplomacy, could significantly bring peace closer. Ukraine has long proposed this, our partners are… pic.twitter.com/TVpJbldfh4

— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) May 11, 2025

Diving Deeper:

Ukrainian President Volodymyr Zelensky on Sunday publicly stated his openness to “personally” meet Russian President Vladimir Putin in Istanbul for direct peace negotiations—a potentially historic step in the conflict now stretching into its third year. However, Zelensky drew a firm line, declaring that any dialogue would hinge on Moscow agreeing to a ceasefire beginning Monday and lasting 30 days.

The offer comes after Zelensky hosted leaders from France, Germany, Poland, and the United Kingdom in Kyiv to mark the 80th anniversary of the end of World War II. In a joint statement, the leaders collectively urged a “full, unconditional ceasefire” to begin immediately, describing it as a prerequisite for serious diplomacy.

Turkish President Recep Tayyip Erdoğan has volunteered to host the summit, hoping to revive talks first attempted in Istanbul shortly after Russia’s invasion in 2022. Erdoğan has long positioned Turkey as a potential mediator in the war, balancing ties with both NATO and Moscow.

In a statement posted to X (formerly Twitter), Zelensky declared: “We await a full and lasting ceasefire, starting from tomorrow, to provide the necessary basis for diplomacy… I will be waiting for Putin in Türkiye on Thursday. Personally.”

However, President Donald Trump issued a public rebuke of Zelensky’s condition, arguing on Truth Social that the Ukrainian leader should meet Putin immediately. “President Putin of Russia doesn’t want to have a Cease Fire Agreement with Ukraine, but rather wants to meet on Thursday, in Turkey, to negotiate a possible end to the BLOODBATH,” Trump wrote. “Ukraine should agree to this, IMMEDIATELY.”

Trump’s commentary reflects a growing chorus of frustration among conservatives who believe endless delay and rigid conditions only prolong the war. “At least they will be able to determine whether or not a deal is possible,” Trump continued, adding that if peace proves elusive, the West would at least gain clarity and “can proceed accordingly.”

For his part, Putin has indicated that he is prepared to restart talks “without any preconditions,” a notable change from previous Kremlin demands that included the lifting of Western sanctions. The Russian president told state media he hoped negotiations could yield a “long-term, sustainable peace,” while accusing Ukraine of violating prior ceasefires, including those during Easter and VE Day.

Despite Putin’s claim, Ukraine has also accused Moscow of breaking those same truces by continuing strikes on civilian infrastructure. Still, the Kremlin’s willingness to talk—absent conditions—suggests a possible diplomatic opening, however narrow.

French President Emmanuel Macron echoed Zelensky’s position during his Kyiv visit: “There can be no negotiations while weapons are speaking. There can be no dialogue if, at the same time, civilians are being bombed.”

“Zelensky” by The Presidential Office of Ukraine, licensed by CC BY-SA 4.0.

MxM News

Quick Hit:

The United States and China have agreed to reduce tariffs for 90 days following trade negotiations in Geneva, offering temporary relief to global markets. The deal marks a pause in the escalating economic conflict, with both countries pledging to resume talks during the truce.

Key Details:

• The U.S. will lower tariffs on Chinese imports from April levels by 24 percentage points, maintaining a 10% base rate.
• China will implement a matching reduction and suspend additional non-tariff measures targeting American goods.
• S&P 500 futures jumped 3%, while U.S. bond yields climbed as investors reacted to signs of de-escalation.

🚨 Treasury Secretary @SecScottBessent announces a major trade deal with China:

“We have reached an agreement on a 90-day pause and substantially move down the tariff levels. Both sides on the reciprocal tariffs will move their tariffs down 115%.” pic.twitter.com/d89RFR3jA4

— Trump War Room (@TrumpWarRoom) May 12, 2025

Diving Deeper:

After weeks of mounting economic tension, the United States and China on Monday jointly announced a 90-day reduction in tariffs, signaling a temporary easing of the trade war that has unnerved businesses, investors, and policymakers across the globe.

The agreement, reached during weekend negotiations in Geneva, was confirmed by U.S. Treasury Secretary Scott Bessent. “We had very robust discussions. Both sides showed great respect to what was a very positive process,” Bessent said in remarks to reporters. According to Bessent, the U.S. will lower its tariffs to 30%, while China will cut its rates to 10% during this period—a proportional rollback from their respective April highs.

The White House clarified that the reduction affects tariffs announced by President Trump on April 2, cutting them by 24 percentage points while keeping the base ad valorem rate of 10%. In response, Beijing agreed not only to match the tariff rollback but also to lift administrative barriers and non-tariff measures it had imposed since April.

Both countries are expected to implement the agreed measures by Wednesday. The joint statement released following the talks indicated that discussions will continue over the coming months as the two sides explore a longer-term resolution.

Markets reacted quickly and positively. S&P 500 futures surged over 3% on the news, providing a shot of optimism after weeks of uncertainty. The U.S. Dollar Index, which had been under pressure due to investor anxiety about America’s trade posture, rose more than 1%. Meanwhile, bond markets adjusted sharply, with the yield on the 10-year Treasury climbing to 4.445%, its highest point since early April.

While the 90-day pause offers breathing room, the underlying issues remain unresolved. Businesses that had delayed orders due to tariff costs may now rush to restock, a move that could cause short-term volatility or even a demand shock in some sectors. Economists warn that without a longer-term agreement, the reprieve may prove fleeting.

For now, though, the breakthrough offers a glimmer of hope. It’s a notable win for President Trump’s strategy of tough negotiations, underscoring his administration’s commitment to putting American interests first while forcing adversaries to the table. The outcome stands in stark contrast to the previous administration’s conciliatory tone and may reinforce the argument for a more assertive U.S. economic posture on the world stage.