Trump Meets With Saudi Crown Prince in Riyadh; White House Slashes ‘De Minimis’ Tariff on China | NTD Good Morning (May 13)
President Donald Trump arrived in Saudi Arabia on Tuesday, the first stop of his four-day visit to the Middle East. He was greeted at the Royal Court in the capital, Riyadh, by Saudi Crown Prince Mohammed bin Salman. The two are expected to discuss a number of investment deals between the two countries in sectors including artificial intelligence, chips, manufacturing, and energy. Trump is also expected to announce a major arms sale to Saudi Arabia, after announcing a $14 billion weapons sale to the United Arab Emirates ahead of his Middle East trip.
A White House executive said late on Monday that the United States would cut the “de minimis” tariff on Chinese shipments to 54 percent from 120 percent, rolling back a key tariff on China. The White House also scrapped a planned fee hike—from $100 to $200—on small packages set to take effect on June 1. The move could ease cost pressures for platforms such as Temu and Shein, which compete with U.S. retailers by shipping cheap goods directly from China.
Republicans have released their long-awaited tax bill, calling it “pro-family, pro-worker.” It makes Trump-era tax cuts permanent, boosts the child tax credit, and creates new deductions for seniors and families. The plan includes $4 trillion in tax cuts and aims to provide certainty for small businesses, while raising the borrowing limit by the same amount.
