☕ The trade war takes a pause

Good morning!

I’d love to learn more about you - where you’re reading this newsletter from, if you’re enjoying our take on the news, and what we could be doing better. All you have to do is hit reply to this email - it’ll be great to chat.

I’ve got 30 seconds

Some headlines from this morning:

• In the first significant de-escalation of the trade war, the U.S. and China have agreed to reduce tariffs on each other’s goods for 90 days. It came after two days of trade talks in Geneva. U.S. tariffs on Chinese imports will fall from 145% to 30%, while Chinese tariffs on US goods will fall from 125% to 10%. Commerce Secretary Scott Bessent said "substantial progress" was made, while China's Vice-Premier described the discussions as "in-depth." The trade conflict has caused global economic turmoil, with both nations experiencing significant financial damage.

• Hamas has announced it will release Israeli-American hostage Edan Alexander as part of efforts to advance ceasefire negotiations. Alexander, who was serving in the Israeli Army when Hamas captured him during the October 7 attacks, will be released "as part of the steps taken to establish a ceasefire," according to Hamas. Israeli officials described the release as a "goodwill gesture" without conditions. President Trump confirmed discussions with Hamas had taken place, stating they were part of efforts to "put an end to this very brutal war."

• Pope Leo has used his first Sunday afternoon blessing to call for peace, offering a special blessing to mothers on Mother's Day. The Pope, elected last week following a short selection process known as the Conclave, delivered his address from a balcony overlooking St. Peter's Square – a Vatican tradition. During his blessing, Pope Leo acknowledged the suffering of the Ukrainian people and called for a ceasefire in Gaza.

• Eurovision, the international pop music competition, begins this week in Basel, Switzerland, marking its 69th year. Contestants from 37 countries will perform three-minute songs judged by viewers and national juries to determine a winner. The competition runs throughout the week with finals scheduled for Saturday, May 17. The event has already commenced with the traditional Turquoise Carpet parade through Basel, Eurovision's equivalent of an opening ceremony.

I’ve got 1 minute

India and Pakistan agreed to a ceasefire over the weekend, following missile and drone attacks in recent days.

The U.S. said it led negotiations.

Both countries have accused each other of violating the ceasefire.

However, at the time of publication, the truce is holding.

Context

Violent conflict erupted between India and Pakistan following a massacre of tourists in the disputed region of Kashmir last month.

When Britain relinquished control of the Indian peninsula in 1947, it split the region into two countries — India and Pakistan.

Kashmir became a flashpoint of conflict between the new nations, with both fighting for control.

After the UN intervened, the area was split into Pakistani control in the north and Indian control in the south.

April attack

In April, a group of militants killed 26 tourists in India’s side of Kashmir.

India called the killings a terrorist attack and alleged Pakistan backs the militants.

Pakistan has denied this.

In the following days, both countries cancelled treaties, and forced each other’s citizens to leave.

Conflict

Last week, India bombed sites in Pakistan, killing 31.

India said it only bombed terrorist infrastructure. International media reported two mosques were bombed.

Pakistan called this as an act of war and promised retribution. Reports emerged that Pakistan had shot down military jets and shelled across the border.

Both sides carried out shelling and drone attacks in the following days.

Ceasefire

A ceasefire was announced on Saturday.

In a post to his social media platform Truth Social, U.S. President Donald Trump said his government “was able to help” broker the agreement.

Trump added he would “work with” both countries towards “a solution… concerning Kashmir.”

Shortly after the deal was reached, both sides accused each other of “violations”. However, the ceasefire is so far holding overall.

I’ve got 2 minutes

President Donald Trump will fly to Saudi Arabia today, commencing a four-day tour of the oil-rich Gulf states.

This is Trump's first international state visit of his second term. He will be hosted in Saudi Arabia, Qatar, and the United Arab Emirates.

The trip follows the three Gulf states' investment in the U.S. The president is expected to focus on encouraging further investment, similar to his first-term visit to Saudi Arabia.

The trip does not include a visit to Israel. It takes place as the U.S. is reportedly nearing a nuclear deal with Iran and continuing efforts to secure a ceasefire in Gaza.

Context

Trump made his first state visit to Saudi Arabia during his first term. During that visit, Crown Prince Mohammad Bin Salman promised a $110 billion arms deal with the U.S.

In his second term, Trump said he would ask the Crown Prince to increase investment in the U.S. from $600 billion to $1 trillion.

What will be discussed?

White House Press Secretary Karoline Levitt said the President will "re-emphasize his continued vision for a proud, prosperous, and successful Middle East."

She said this vision involves the replacement of extremism with "commerce and cultural exchanges."

In Saudi Arabia, the president will attend a meeting of leaders of the Gulf Cooperation Council, including national leaders from the United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar.

Topics expected to be discussed include a Saudi-U.S. deal to develop civil-nuclear capabilities in Saudi Arabia, Qatari efforts to establish their AI industry, and weapons deals with all three countries.

Where isn’t he going?

During his first term, Trump visited Israel. During his second term, he has stated he would work to resolve the ongoing conflict in Israel/Palestine.

Recent ceasefire negotiations have not resulted in an agreement.

The Wall Street Journal reported that White House officials said a visit to Israel had not been planned because Israeli Prime Minister Benjamin Netanyahu had already visited the U.S. twice this term.