Here are the stories shaping the day:

• The House of Representatives passed a bill aimed at ending Beijing’s persecution of the spiritual group Falun Gong.
• Harvard University will no longer be eligible for government grants, according to a senior White House official.
• China’s six largest banks have posted first-quarter reports with a significant drop in both earnings and profits.
• Online scammers have entered the age of AI, using cloned voices to dupe unwitting Americans.

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Today’s top news:

• President Donald Trump said he has no plans to reduce tariffs on Chinese goods in order to bring about negotiations.
• In the same interview, the president shut down speculation about serving a third term and named two best contenders to replace him in 2028.
• Experts say China’s economy is in a recession and that the U.S. tariffs could trigger a depression.
• Warren Buffett urged long-term investors not to be shaken by short-term swings and focus on fundamentals amid recent market volatility.

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Get clarity and inspiration with The Epoch Times Morning Brief, our flagship newsletter written by U.S. national editor Ivan Pentchoukov. Sign up here.