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.

MxM News

Quick Hit:

A shocking new poll reveals that a staggering 71% of likely Democratic voters support imprisoning Elon Musk for his brief service in the Trump administration’s Department of Government Efficiency (DOGE). The survey, conducted by The Heartland Institute and Rasmussen Reports, underscores an alarming shift in progressive politics: jailing political opponents for attempting to rein in bureaucratic waste. As Justin Haskins writes in his May 9 Townhall op-ed, this poll is not just about Musk—it’s about the dangerous normalization of authoritarianism among America’s political left.

Key Details:

• 71% of likely Democratic voters support jailing Musk for his role in eliminating government waste via DOGE.

• 80% of ideological liberals, across parties, say they would imprison Musk for his public service.

• Nearly 70% of Democrats support banning Musk from ever serving in government again—an unconstitutional measure.

Diving Deeper:

In his recent Townhall column, Justin Haskins warns that Elon Musk’s fall from liberal darling to “Public Enemy No. 1 for the modern left” stems from a single transgression: daring to challenge the D.C. establishment. Haskins opens by recognizing Musk’s past achievements—electric vehicles, space exploration, and defending free speech. But after briefly working in the Trump administration’s Department of Government Efficiency (DOGE)—an initiative aimed at cutting federal waste—Musk became a target of left-wing ire.

According to the Heartland Institute/Rasmussen poll, “Seven in ten likely Democratic voters want to imprison Musk for trying to make government more efficient.” Haskins adds, “This isn’t satire. This is the modern Democratic Party, where liberalism has evolved into authoritarianism dressed in the clothes of compassion and equity.”

The numbers become even more disturbing among self-identified liberals. A staggering 80% of ideological liberals said they’d support jailing Musk for participating in DOGE. Additionally, nearly 70% of Democrats back a proposal to ban him from ever working in government again—a position that clearly violates constitutional protections.

Musk’s unpopularity among Democrats has grown since his acquisition of X (formerly Twitter) and his commitment to restoring banned voices. Once celebrated as a climate champion, Musk is now demonized by the very groups that once hailed his green energy innovations. “He was supposed to walk in lockstep against conservatives at all times,” Haskins notes. “When he chose a different path… he committed a sin that some on the radical left simply cannot forgive.”

More importantly, the poll reflects a dangerous national trend: criminalizing political dissent. Haskins writes, “When nearly three-fourths of Democratic voters support jailing someone for participating in an effort to streamline federal agencies, we’ve crossed a dangerous line.” He continues, “This is the stuff of banana republics, not constitutional republics.”

The column concludes with a chilling reminder that the targeting of Elon Musk is not an isolated incident. “If they’re willing to jail Elon Musk for doing his job, what do you think they’ll do to the rest of us?” Haskins asks. The poll results reveal a left-wing movement increasingly comfortable using state power to punish those who refuse to conform.