U.S. and China agree to pause most tariffs and Hamas to release Edan Alexander: Morning Rundown

The U.S. and China agree to a 90-day pause on most tariffs.

The U.S. and China agree to a 90-day pause on most tariffs. Hamas said it will release a hostage believed to be the last living American captive in Gaza. And a group of women are speaking out about Pentecostal preacher’s decades of alleged abuse. 

Here’s what to know today.

Treasury Secretary Scott Bessent in Geneva on May 12.Fabrice Coffrini / AFP via Getty ImagesThe U.S. and China said they had agreed to a 90-day pause on most of the tariffs they have imposed on each other since last month, in a major step toward easing a trade war between the two powers that has rattled the global economy. According to a joint statement from the two countries:

→ U.S. tariffs on Chinese imports will be cut to 30% from 145%

→ China’s tariffs on U.S. imports will be cut to 10% from 120%