Want to create an interactive transcript for this episode?
Podcast: Bloomberg Daybreak: US Edition
Episode: Stocks Soar as US-China Tariffs Slashed, President Trump Visits Middle East
Description: On today's podcast: Â 1) Stocks soar as the U.S. and China agree to de-escalate their trade war. The US and China will temporarily lower tariffs on each other's products, with the US reducing its levies from 145% to 30% and China reducing its duties from 125% to 10%. The tariff reductions are a move to cool trade tensions and give the two countries three more months to resolve their differences, with talks potentially leading to "purchasing agreements" by China. 2) Drug stocks tumble as President Trump plans to order pharmaceutical price cuts. The declines affected European drugmakers, US drugmakers, and A...