The President's Daily Brief
PDB Afternoon Bulletin | May 7th, 2025: China Caves, Agrees To Trade Talks With US & The Fallout From India's Strike On Pakistan
Wed, 07 May 2025
In this episode of The PDB Afternoon Bulletin: First, U.S. and Chinese officials are set to meet this weekend for the first direct trade talks since the tariff war began last month, though experts caution there is likely a long road ahead before the two economic powers reach a new deal. Later in the show—we’ll have the latest on India’s deadly airstrikes inside Pakistan early Wednesday, which mark the most dangerous escalation between the nuclear-armed rivals in years. To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief True Classic: Upgrade your wardrobe and save on @trueclassic at trueclassic.com/PDB ! #trueclassicpod Jacked Up Fitness: Go to https://GetJackedUp.com and use code BAKER at checkout to save 10% off your entire purchase Lean: Visit https://TakeLean.com & use code pb20 for 20% off Learn more about your ad choices. Visit megaphone.fm/adchoices
Chapter 1: Who is Mike Slater and what is Politics by Faith?
My name is Mike Slater. I have a podcast called Politics by Faith. I was just talking to a friend of mine who said he hasn't been able to follow the news lately. It's been too much. It's too crazy. It's driving him crazy. And he's just checked out. If you feel that way sometimes too, I think you'll really like our podcast, Politics by Faith.
We take the main story of the day and we run it through the Bible. What does the Bible say about this? It's amazing, but it's all there. And then God tells us what to do. We don't even have to figure it out. The answers are right there. He gives us the answers. Politics by faith. Please join us over there. You can listen to it wherever you're listening to this podcast right now. Politics by faith.
Chapter 2: What are the key points of the US-China trade talks?
It's Wednesday, the 7th of May. Welcome to the PDB Afternoon Bulletin. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. First up, U.S. and Chinese officials are set to meet this weekend for the first direct trade talks since the tariff war began last month, though experts caution there's likely a long road ahead before a new deal is reached.
Later in the show, we'll have the latest on India's deadly airstrikes inside Pakistan early Wednesday. The strikes marked the most dangerous escalation between the nuclear-armed rivals in decades. But first, today's PDB Afternoon Spotlight.
It appears that trade tensions between the US and China are beginning to thaw as Beijing and Washington agree to take the first steps towards finding a resolution to the crippling tariff war. U.S. Treasury Secretary Scott Besant announced Tuesday that he and senior U.S.
Trade Representative Jameson Greer will meet in Geneva, Switzerland, this weekend with Chinese economic czar Qi Lifeng to break the ice on the subject of mutual de-escalation.
Chapter 3: Why is China agreeing to negotiate with the US?
The apparent U-turn by China, which until now has publicly refused negotiations unless the US unconditionally drops its tariffs, comes as the communist regime's export-dependent economy, well, begins to buckle, marked by factory shutdowns and mass layoffs. That's according to our report from Reuters.
The Geneva talks, which will run from May 9th through the 12th, are expected to cover possible reductions to Trump's 145% tariffs and Beijing's 125% retaliatory tariffs, as well as potential exemptions for specific product categories critical to both the U.S. and Chinese economies. But don't expect a major breakthrough.
Financial analysts say the talks will likely only serve as a starting point for more negotiations, which many expect will drag on for several months or even upwards of a year. In an interview with Fox News on Tuesday, the Treasury Secretary said, "...my sense is that this will be about de-escalation, not about the big trade deal. But we've got to de-escalate before we can move forward."
He added, quote, we have a shared interest that this isn't sustainable, and 145%, 125% is the equivalent of an embargo. We don't want to decouple, he said. What we want is fair trade, end quote. For their part, Chinese officials have said their participation in the talks is not a sign of them caving to U.S.
pressure, but based on a consideration of global expectations, China's interests, and appeals from American businesses and consumers. At a daily press conference on Wednesday, a spokesman for China's foreign ministry stated that Beijing's "...position of firmly opposing U.S. abuse of tariffs has not changed." End quote.
They added, if the United States wants to resolve the issue through negotiations, it must face up to the serious negative impact of unilateral tariff measures on itself and the world. While China's statements are certainly geared at downplaying expectations for the summit, global investors appeared more optimistic.
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Chapter 4: What is the impact of the trade tensions on global markets?
The news drove stock markets in the US, China, and Hong Kong higher on Wednesday, rekindling hopes that some economic relief is finally in sight. So, why the U-turn on negotiations from China? Well, as we've discussed earlier this week, China's massive factory sector has so far borne the brunt of the economic standoff, with factory activity contracting at its fastest pace in 16 months.
Major global banks have now cut China's full-year growth forecast to around 4%. That's well below Beijing's official target. And Goldman Sachs recently estimated that some 16 million jobs across Chinese industries are now at risk. China's export orders have also hit their lowest levels since the worst days of the COVID lockdowns.
The severe hit to China's economy has already prompted the Chinese Communist Party, the CCP, to begin quietly exempting a host of US-made products from their 125% retaliatory tariffs. While China is not publicly acknowledging the exemptions, they are substantial, applying to roughly $40 billion in goods, or nearly a quarter of all Chinese imports from the US this year.
Still, the impact on China's domestic economy has sparked major protests across the country, with thousands of disgruntled workers taking to the streets in recent weeks to demand back pay and to challenge layoffs linked to the wave of factory closures.
Chapter 5: How are the US-China trade tensions affecting their economies?
In one of the more extreme examples, construction workers in a northeast province recently climbed onto rooftops and threatened to jump unless they were paid. But the pain may also soon set in for U.S. businesses and consumers. The International Monetary Fund recently slashed growth forecasts for the U.S. Cargo volumes into the U.S. have fallen by as much as 60%.
And most American businesses will need to restock by mid-May. And major retailers have warned consumers to brace themselves for higher prices and empty shelves. All right, coming up next, the latest on India's deadly airstrikes inside Pakistan early Wednesday as the two nuclear-armed rivals hedge closer to a major conflict. I'll be right back. Hey, Mike Baker here.
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Chapter 6: What is the latest on the India-Pakistan conflict?
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Islamabad has denounced the operation as an act of war after at least 31 people were killed, marking one of the most dangerous escalations between the nuclear-armed rivals in years. As we discussed on today's PDB, the strikes, dubbed Operation Sindor, lasted just 25 minutes and targeted nine locations across Pakistan and Pakistan-administered Kashmir.
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