The United States and China agree to slash tariffs for at least the next few days. The major percentage cuts by each side, and what to expect when the stock market opens to start the new week. Also, President Donald Trump plans to announce an initiative on prescription drugs Monday morning, May 12. He plans to invoke an executive order called “Most Favored Nation,” which could affect prices significantly. These stories and more highlight your Unbiased Updates for Monday, May 12, 2025.