ACTUAL NEWS Briefing: May 12th 2025
- Olga Nesterova
- 18 hours ago
- 13 min read
QUICK HITS
U.S. Tariff Timeline Under President Trump (2025)
Since taking office on January 20, President Donald Trump’s sweeping and often abrupt tariff decisions have sent shockwaves through global financial markets, injecting deep uncertainty into the world economy. Below is a timeline of key developments:
February 1: Trump imposes 25% tariffs on Mexican and most Canadian imports, and 10% on Chinese goods, citing the need to curb fentanyl trafficking and illegal immigration.
February 3: Trump suspends planned tariffs on Mexico and Canada for 30 days in exchange for increased cooperation on border security and crime enforcement. No such agreement is reached with China.
February 7: Tariffs on low-cost Chinese packages (de minimis) are delayed until the Commerce Department ensures collection systems are in place.
February 10: Steel and aluminum tariffs are raised to a flat 25%, with no exemptions.
March 3: Trump reintroduces 25% tariffs on Mexican and Canadian goods, effective March 4, and doubles fentanyl-related tariffs on all Chinese imports to 20%.
March 5: Tariffs on Canadian and Mexican-built vehicles are delayed one month after discussions with auto industry CEOs.
March 6: Goods covered under the North American trade pact are temporarily exempted from the 25% tariffs.
March 26: A new 25% tariff is introduced on imported cars and light trucks.
April 2: Global tariffs are set at a baseline of 10%, with significantly higher rates targeting major U.S. trading partners.
April 9: Trump pauses most country-specific tariffs for 90 days following a market crash, while the 10% global baseline remains. He also announces Chinese tariffs will rise to 125% (up from 104%), bringing the total tariff burden on some Chinese imports to 145%.
April 13: Smartphones, computers, and other electronics—mainly from China—are exempted from steep tariffs.
April 22: National security investigations are launched into imports of pharmaceuticals and semiconductors, laying the groundwork for new tariffs in those sectors.
May 4: Trump imposes a 100% tariff on all foreign-produced movies.
May 9: Trump and British Prime Minister Keir Starmer announce a limited trade deal. The agreement keeps 10% tariffs on British goods, slightly increases agricultural trade, and lowers tariffs on British cars.
May 12: The U.S. and China agree to a 90-day tariff truce. U.S. tariffs on Chinese goods are cut from 145% to 30%, and China reduces its duties on U.S. goods from 125% to 10%. However, the agreement does not reinstate the “de minimis” ecommerce exemption, giving companies like Shein and Temu time to adjust their business models.
“Beijing realized that, if the tariff tension hikes up, American shelves are going to run out of stuff, American factories are going to run out of the intermediary input. And you started to see the pressure bubbling up in the United States as well...The Chinese officials have said there is not going to be a winner from the trade war, and they know that they cannot win from the trade war. Not just because of shrinking exports, but also because of pressure on the stability of the currency [and] domestic stability from unemployment.”— CFR expert Zongyuan Zoe Liu
Diplomatic Update: Zelenskyy-Putin Talks in Turkey
Ukrainian President Volodymyr Zelenskyy announced he would travel to Istanbul on Thursday for peace talks with Russian President Vladimir Putin. This follows his call for a 30-day ceasefire last week. If it happens, this will be the first in-person meeting between the two leaders since December 2019.
President Donald Trump, currently on a regional tour of the Middle East, said he may consider joining the talks:
"I think you may have a good result out of the Thursday meeting in Turkey between Russia and Ukraine."
Qatar Gifts Trump a Jet
President Trump on Monday brushed off ethical concerns about accepting a $400M private airplane from the Qatari royal family, saying:
“It would be stupid to turn down the generous offer.”
U.S. government has reportedly commissioned L3Harris to overhaul the plane for use as a presidential jet, indicating that significant security enhancements will be required. This will be paid by us, the US taxpayers.
Refugee Arrival Sparks Questions
Today, 59 South African refugees were flown to the United States at the expense of American taxpayers.
Who are they? A 17-minute investigative video offers a deep dive into the issue.
📹 Watch the full breakdown
TODAY IN HISTORY
1780: During the American Revolution, Major General Benjamin Lincoln of the Continental Army was forced to surrender with 7,000 troops at Charleston, South Carolina.
1820: English nurse Florence Nightingale, the founder of modern professional nursing for women, was born in Florence, Italy. International Nurses Day is observed annually on her birthday.
1846: The ill-fated Donner Party departed from Independence, Missouri, heading for California; the group later became trapped in the Sierra Nevada, with some members resorting to cannibalism after running out of food.
1926: Norwegian explorer Roald Amundsen, American scientist Lincoln Ellsworth, and Italian engineer Umberto Nobile completed the first undisputed flight over the North Pole aboard the semirigid airship Norge.
1937: King George VI was crowned monarch of the United Kingdom following the abdication of his brother, Edward VIII.
1949: The Soviet Union officially lifted its blockade of Berlin, ending one of the first major crises of the Cold War.
2008: A devastating earthquake struck China’s Sichuan province, resulting in massive destruction and the deaths of approximately 90,000 people.
QUICK ACTUAL NEWS
NATIONAL
The Trump administration on Monday urged the U.S. Supreme Court to lift a court order blocking the immediate deportation of a group of Venezuelan migrants detained in Texas, citing their “dangerous behavior.”
Buyers of U.S. President Donald Trump’s $TRUMP meme coin reportedly spent an estimated $148 million for a chance to win dinner with Trump at his private golf club near Washington, D.C., on May 22, according to crypto intelligence firm Inca Digital.
Republicans in Congress unveiled a sweeping budget proposal on Monday that includes new tax breaks for tipped income, overtime pay, private school tuition, seniors, and state and local taxes. The package also aims to cut taxes while tightening healthcare benefits for low-income Americans.
The U.S. House Agriculture Committee released legislation Monday that would impose stricter work requirements for some Supplemental Nutrition Assistance Program (SNAP) recipients and eventually require states to share more of the program’s cost. The bill would cap future SNAP increases that exceed inflation and limit states’ ability to waive work requirements during high unemployment. These provisions support Republican efforts to save $230 billion under President Trump’s budget plan. Over 41 million Americans currently rely on SNAP.
The U.S. Centers for Medicare & Medicaid Services (CMS) announced Monday that it will release a list of 15 drugs eligible for the third round of Medicare price negotiations by early February 2026.
As part of their tax reform bill, House Republicans also proposed ending the electric vehicle tax credit and repealing fuel-efficiency rules aimed at encouraging automakers to produce zero-emission vehicles.
California Governor Gavin Newsom on Monday urged cities and counties to “take back the streets” from homeless encampments, offering proposed language to help local governments enact public camping bans.
A coalition of American film unions and guilds—joined by actor Jon Voight—submitted a letter Monday urging President Trump to introduce tax incentives to support domestic film production.
Cannes Film Festival Director Thierry Frémaux, speaking Monday ahead of the festival’s opening, said he needed more information before responding to Trump’s proposed 100% tariff on foreign-made films.
The FBI has ordered agents to dedicate more time to immigration enforcement and scale back white-collar crime investigations, four sources familiar with the directive told Reuters on Monday.
U.S. military officials confirmed Monday that the B-2 bomber is being phased out at a base in the Indo-Pacific, replaced by a different bomber platform better suited for operations in the Middle East.
According to a Pentagon memo obtained by Reuters, the Department of Defense is halting gender-affirming healthcare for transgender troops, in alignment with President Trump’s policy to remove them from the military.
President Trump signed an executive order Monday targeting the role of pharmacy benefit managers in drug pricing. He vowed to eliminate these intermediaries and demanded price reductions of 30–80% to bring U.S. prices closer to those in other developed countries. The legality and practicality of this measure remain unclear.
The Department of Energy on Monday proposed rolling back or eliminating over 40 regulations and programs to align with the Trump administration’s broader effort to reduce federal oversight and dismantle diversity initiatives.
President Trump also included new blockbuster weight-loss drugs like Wegovy and Zepbound in his drug pricing crackdown. His executive order gives pharmaceutical companies a deadline to reduce prices or face penalties, including tariffs and export restrictions.
New vehicle prices in the U.S. rose sharply in April, according to Kelley Blue Book. The average price paid increased by 2.5%—more than double the usual seasonal rise—largely attributed to Trump’s ongoing auto tariffs.
Sources told Reuters that hundreds of veterinarians and lab workers at the USDA’s animal health division have resigned amid pressure from the Trump administration, raising concerns about the country’s capacity to respond to future disease outbreaks.
The Treasury Department reported Monday that the U.S. government posted a $258 billion budget surplus in April—a 23% increase over the same period last year—due to strong tax receipts and record import duty collections.
SEC Chair Paul Atkins announced plans Monday to overhaul cryptocurrency regulation, including new guidelines for crypto token distributions and consideration of additional exemptions.
Todd Blanche has been named acting Librarian of Congress, a Justice Department spokesperson confirmed Monday, following President Trump’s dismissal of Carla Hayden.
A U.S. House committee budget proposal released Monday includes over $1.5 billion to replenish the Strategic Petroleum Reserve and cancels a previously mandated sale, following significant withdrawals from the reserve in 2022.
GLOBAL
Switzerland Prioritized for U.S. Trade Deal
Switzerland has moved to the front of the line for a new trade agreement with the United States, Treasury Secretary Scott Bessent announced Monday. The news follows what he described as unexpectedly productive U.S.-China trade talks hosted in the Alpine nation over the weekend.
Trump Signals Possible Sanctions Relief for Syria
President Donald Trump said Monday he may consider easing U.S. sanctions on Syria, responding to a request from Turkish President Erdoğan. Syria remains largely cut off from the global financial system due to U.S. sanctions, which Washington has maintained for 14 years amid the country’s protracted civil war.
Trump Takes Credit for India-Pakistan Ceasefire
President Trump claimed Monday that his administration helped broker a ceasefire between India and Pakistan. However, within four hours of Trump’s announcement on social media, the ceasefire was reportedly violated by Pakistani forces. Despite the breach, top military officials from both countries met Monday to discuss de-escalation, with additional mediation credited to China, Saudi Arabia, Turkey, and the UK.
Israel Bypassed on Trump’s Middle East Trip
Israeli officials are putting on a brave face after President Trump excluded Israel from his upcoming Middle East visit, opting instead for stops in Saudi Arabia, Qatar, and the UAE. The decision has deepened concerns in Israel over its standing within Washington’s regional priorities.
U.S. Considers Flagging Ships in the Virgin Islands
The Trump administration is weighing a proposal to establish an international ship registry based in the U.S. Virgin Islands, according to the territory’s governor. The initiative is part of a broader effort to expand the number of commercial vessels flying the U.S. flag, sources familiar with the plan told Reuters.
Rubio Reaffirms U.S. "Commitment to Ukraine"
U.S. Secretary of State Marco Rubio held separate calls Sunday night with British Foreign Secretary David Lammy and German Chancellor Friedrich Merz, reaffirming the United States' continued support for Ukraine amid the ongoing war.
Hamas Released Israeli-American Hostage
President Trump announced Monday that Hamas has agreed to release Israeli-American hostage Edan Alexander as a “good faith” gesture. The move follows mediation efforts by the U.S., Egypt, and Qatar. A senior Hamas official indicated the group is ready to negotiate a broader deal to end the conflict and exchange prisoners. Israel’s Prime Minister’s Office reiterated that it remains committed to achieving all its war objectives.
Kurdish Insurgent Group to Disband
The Kurdistan Workers’ Party (PKK) announced today that it will disband and disarm after four decades of insurgency against Turkey. The group, designated a terrorist organization by Turkey and its Western allies, declared a unilateral ceasefire in March. Although it claims to have “completed its historic mission,” the timeline for disarmament remains unclear.
Bangladesh Bans Awami League
Bangladesh’s interim government announced Saturday that it is banning the Awami League while lawsuits against the party proceed. A UN fact-finding committee previously alleged that the party and local law enforcement were responsible for the deaths of 1,400 protesters in 2024. The party’s former leader fled to India in August, and the party has called the interim government illegitimate.
Iran Nuclear Talks: 'Difficult But Useful'
Three hours of nuclear talks in Oman on Sunday between U.S. Middle East envoy Steve Witkoff and Iranian Foreign Minister Abbas Araghchi were described as “difficult but useful.” Iran signaled willingness to temporarily reduce both the quantity and purity of its uranium enrichment as a confidence-building measure, while stopping short of ending domestic enrichment altogether. Both sides agreed to continue negotiations.
UK Cracks Down on Legal Immigration
The British government announced new restrictions on legal immigration, including tighter work visa criteria, tougher permanent residency rules, and a ban on recruiting international care workers. Home Secretary Yvette Cooper said the changes aim to increase domestic workforce participation. The move follows gains by the anti-immigration Reform UK party in recent local elections.
Detained Tufts Student Released
Rümeysa Öztürk, a Turkish graduate student at Tufts University, was released from U.S. Immigration and Customs Enforcement (ICE) detention on Friday. A judge ruled she had raised a “substantial claim” that her constitutional rights were violated. The Trump administration is seeking her deportation, arguing she may have undermined U.S. foreign policy. The judge noted that the administration offered no concrete evidence beyond an op-ed Öztürk wrote criticizing Tufts’ stance on the Israel-Hamas war.
WHAT'S NEXT
Today, the Africa CEO Forum commenced in Abidjan, Ivory Coast. This annual event brings together business leaders, policymakers, and investors to discuss strategies for economic growth and development across the continent.
Also today, the Philippines held its midterm elections. In a remarkable development, former President Rodrigo Duterte, currently detained at the International Criminal Court in The Hague on charges related to his anti-drug campaign, secured a landslide victory in the Davao City mayoral race. With over 80% of votes counted, Duterte led his closest rival by a significant margin, underscoring his enduring influence in his hometown.
Tomorrow, the Cannes Film Festival will open in France, attracting filmmakers, actors, and cinema enthusiasts from around the world to celebrate international cinema.
Additionally, President Donald Trump is scheduled to embark on a regional trip to the Middle East, with planned visits to Saudi Arabia, the United Arab Emirates, and Qatar. In Saudi Arabia, his itinerary includes a state visit, a state dinner, and participation in the U.S.-Saudi Arabia Investment Forum.
TWEET OF THE DAY
CFR Panel Draws Stark Parallels Between Post-Soviet Russia and Trump-Era America
On Monday afternoon in New York, the Council on Foreign Relations hosted a compelling session titled “Reflecting on Post-Soviet Russia.” The panel featured Professor Timothy Snyder (University of Toronto, Yale University; Senior Fellow, CFR), Professor Angela Stent (Brookings Institution; Non-Resident Fellow, CFR), and Peter Pomerantsev (SNF Agora Institute, Johns Hopkins; Senior Fellow, CFR). The discussion was moderated by Professor Kimberly Martin (Professor of Political Science, Columbia University), with opening remarks from Shannon K. O’Neil (Senior Vice President and Director of Studies, CFR).
The conversation opened with unexpected and sobering comparisons between post-Soviet Russia in the 1990s and the United States under the Trump administration.
Professor Snyder, who conceived the session, began with a jarring list of trends observed in both contexts:
“It is stunning that Trump won 65% of the evangelical vote.”
In both the U.S. and 1990s Russia, crises undermined independent news and opened space for state propaganda.
“There is drastic inequality of wealth... taking what you can under the shelter of government influence.”
An oligarchical power structure, with “a president who is rich and wants to be richer,” surrounded by wealthier allies able to give him what he wants.
A shift in international politics: from seeking united democratic influence to asserting “multipolarity” and individual power.
“It’s not that Russia is becoming more powerful on the battlefield in Ukraine,” Snyder emphasized, “it’s that the U.S. positions itself not as a democratic superpower, but as a state seeking personal gain.”
Angela Stent traced Russia’s political decline from Gorbachev to Putin. Under Yeltsin, she noted, television shows like Political Puppets still criticized the government, and there was a measure of press freedom. But with the rise of oligarchs came media consolidation, and Yeltsin’s hand-picked successor — Vladimir Putin — promised immunity for Yeltsin’s family and kept that promise.
“Yeltsin’s legacy is that he gave us Vladimir Putin.”
The panelists agreed that “Putin-isation” of the U.S. is underway. Pomerantsev, with his background in media, described American political discourse as a reality show — built not on ideas but provocation and reaction.
“Religion is about belonging rather than belief,” he said, “where the foreigner becomes the enemy.” He warned that without structural changes to how information is presented and discussed, reform will be impossible.
A moderator asked whether the speed of authoritarian shifts in the U.S. — within just 90 days of the Trump administration’s return — mattered compared to the slower consolidation under Putin. “We’re talking about speed,” said Pomerantsev. “It reminds me more of Poland than of Orban’s Hungary. Putin moved slowly. In America, there are rules and institutions to destroy — which accelerates the process.”
Stent referenced Project 2025 and noted: “When you listen to people like Stephen Miller, you understand what actions are coming next, especially regarding immigration.”
Snyder added: “The U.S. is doing what Putin’s Russia didn’t — making the state ineffective. Planes malfunction. Measles outbreaks spread. The American state is malfunctioning.” Unlike Russia, which projected order and strength, he said, “The U.S. seems increasingly futureless — and that’s the common denominator with Russia now.”
In a chilling exchange, Snyder distinguished a key difference between Trump and Putin: “Putin understands the concept of sovereignty. Trump does not. You laugh, but he genuinely doesn’t understand why Ukraine wants to be independent.”
The term “powerministries” arose — a nod to how post-Soviet Russian institutions fell under authoritarian control. In the U.S., Stent noted: “The administration doesn’t yet control the agencies — intelligence, defense — but that’s the goal.”
On how to combat disinformation in a fragmented media environment, Pomerantsev said: “We have platforms and we have people. The question isn’t how — it’s who, and when.”
On a personal note, Snyder shared that together with his wife, he left the U.S. last year.
Answering a question on how to fight against authoritarianism, he said: “Fighting of any kind requires durability. You have to stick to it and keep going.”
Asked if the recent election of Pope Leo XIV was meant to “cheer people up,” Snyder replied: “There’s a long tradition — now represented by JD Vance — of claiming that only ‘your kind’ counts as a neighbor. It’s nationalism through scripture.” As to the choice of Pope Leo XIV, he said: “I think this choice was a thoughtful one, it was not an accident by the Cardinals — will it lead to something useful? I don’t know.”
On the Trump administration’s apparent incompetence, Snyder was blunt: “The oath of loyalty takes us back to Nazi Germany. From an Eastern European perspective, it’s surreal to see such incompetent people take power. The Department of Defense, for instance, is supposed to manage risk, not be staffed with yes-men.”
He concluded: “Think of this administration as a reality show where every episode ends with ‘dismantling your enemies.’”
That's all from me for now. Thank you for reading.
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