Tariff Pause: 90 Days + Trump Pressures Big Pharma

U.S. and China slash tariffs in 90-day deal

Stocks surged Monday after the U.S. and China agreed to pause their escalating trade war, cutting tariffs from 145% to 30% on Chinese imports and from 125% to 10% on U.S. goods. The deal gives both countries a 90-day window to renegotiate, temporarily unclogging shipping routes and lowering costs for importers. Businesses are now rushing to ship goods before the deadline hits.

_ _ _

WHY IT MATTERS

This agreement offers short-term relief on prices for imported goods like toys, clothing, electronics, and tools. Importers are scrambling to move inventory now that tariffs are lower, with some doubling factory shifts or rushing shipments before the 90-day window closes. Consumers should expect temporary price dips but prepare for higher costs later this year if no long-term deal is reached.

Trump signs executive order setting 30-day deadline for drugmakers

President Trump signed an executive order Monday giving drug companies 30 days to voluntarily lower prescription drug prices or face new federal limits. The health department, led by Robert F. Kennedy Jr., will begin negotiating with manufacturers, with a possible future rule tying U.S. drug costs to the lower prices paid in countries like Canada and Germany. The pharmaceutical industry is pushing back, warning the plan could harm drug development and patient access.

_ _ _

WHY IT MATTERS

President Trump’s executive order gives drugmakers 30 days to voluntarily lower prescription drug prices, with a focus on Medicare and Medicaid. It’s unclear how or if this will impact people with private insurance, and even under government programs, any major price drop could take months or years to play out. Drug companies are already pushing back, saying this could slow new treatments and hurt research. For now, don’t expect your costs to drop at the pharmacy anytime soon. If you’re managing a chronic condition or high monthly prescriptions, this is worth watching — but I wouldn’t get your hopes up just yet.

Trump open to joining Russia-Ukraine peace talks in Turkey

President Trump said Monday he’s open to flying to Turkey this week to join proposed peace talks between Putin and Zelenskyy “if I thought it would be helpful.” Meanwhile, Ukraine’s foreign minister says Russia continues attacking across the frontline and has ignored multiple ceasefire offers. European allies backed Ukraine in a joint statement, warning Moscow of stronger sanctions and pledging new defense support.

_ _ _

WHY IT MATTERS

Putin says he’s serious about peace talks in Turkey, but pulled back after Zelenskyy said he would only join if Putin shows up in person. Trump has said he’s willing to fly to Turkey if it would help, possibly to keep the talks on track as tensions rise. For everyday people, the longer this war continues, the more it drives up energy and food costs around the world. If the talks fall apart, expect more global instability and no clear end in sight.

Oil prices jumped after the U.S. and China agreed to cut tariffs, which boosted hopes for more trade and higher energy demand. That means gas and shipping costs could rise if this trend continues. Gold prices dropped because investors felt more confident and moved money into riskier assets like stocks. The U.S. dollar also got stronger, which can make imports cheaper but may hurt American exports. For everyday people, this mix points to short-term relief in the economy, but it’s still a fragile setup that can flip fast if talks fall apart or new global risks emerge.

Respiratory virus levels are low across the country, so for now, the health outlook is calm. But with new outbreaks of measles and hepatitis A in some areas, health officials are urging awareness, not panic. These are mostly local issues, so it’s not something to stress about unless you’re in an affected area — but it’s a good reminder to practice basic hygiene and stay alert to local health updates. On the mental health front, a possible rollback in insurance protections could make care harder to access for some. If that happens, community clinics, sliding-scale providers, or telehealth platforms could be useful alternatives. This is a good time to check what coverage you have, what local options exist, and take simple steps to stay prepared.