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CBS News Roundup - 05/12/2025 | World News Roundup Late Edition

U.S. and China agree to a 90-day pause on most tariffs, sending financial markets soaring. Last living U.S. hostage released from Hamas captivity. President Trump signs executive order giving drugmakers a 30-day deadline to lower the cost of prescription drugs. CBS News Correspondent Jennifer Keiper with tonight's World News Roundup.

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1A - ‘If You Can Keep It’: The Crypto President?

President Donald Trump has been clear about wanting to make the U.S. the crypto capital of the world. What's becoming clearer is how much Trump is personally invested in the industry succeeding.

A new report from State Democracy Defenders Action finds that Trump's crypto holdings represent nearly 40 percent of his net worth. The president has his own meme coin and is offering a dinner and private White House tour to the highest investors.

Meanwhile, a recent deal by the Trump family's crypto firm, World Liberty Financial, to an Emirati state backed venture fund has raised eyebrows.

On Tuesday, Democratic Representative Maxine Waters of California blocked a joint hearing on cryptocurrency policy. On Thursday, a key cryptocurrency bill stalled over concerns of the president's crypto dealings.

We get into all of this during our latest installment of, "If You Can Keep It."

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The Gist - Altman Almighty

Sam Altman’s outsize ambition and messianic optimism take center stage in a conversation with Keach Hagey, author of The Optimist: Sam Altman, OpenAI, and the Race to Invent the Future. From failed flip-phone apps to billion-dollar AI bets, Altman emerges as one of Silicon Valley’s most effective—and unsettling—dream merchants. Plus: Trump’s flying palace may be more than a bribe; it’s a perfect symbol of soft corruption via cushy luxury. And of all the cease-fires for Trump to broker, he chooses one where U.S. weapons and interests are barely at stake. Produced by Corey Wara
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Marketplace All-in-One - U.S. and China hit pause on tariff war

For the next 90 days, the two countries will temporarily ease tariffs on each other’s goods as trade talks continue. But what does this deal mean for the broader economy? Marketplace's Kai Ryssdal sits down with Adam Posen from the Peterson Institute for International Economics to discuss the damage that's already been done. Also on the show, how soybean farmers feel about the latest trade deal and why Chinese manufacturers are trying to reach American consumers via TikTok.

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Marketplace All-in-One - What’s inside the new GOP tax bill?

House Republicans’ newly released tax plan includes trillions in tax breaks. But those tax cuts will come at a cost. We’ll get into it. And, Apple plans to raise iPhone prices but won’t point fingers at President Trump’s tariffs. We’ll unpack how all the tariff chaos could lead to elevated prices, no matter what they actually cost companies. Plus, sci-fi escapism and Pope Leo XIV’s love of baseball make us smile.


Here’s everything we talked about today:


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Consider This from NPR - Why Bill Gates is giving away his money faster

Last week, the Gates Foundation announced it would spend more than $200 billion over the next 20 years — including nearly all the personal wealth of chair Bill Gates — and sunset operations in 2045.

The Foundation says its goals are combating maternal and infant mortality, treating infectious diseases and lifting millions out of poverty.

The announcement comes at a time when the U.S. is drastically reducing foreign aid commitments under the Trump administration, and other wealthy nations are also cutting global health funding.

But in an interview with NPR about his decision, Gates said he remains optimistic that new scientific advances create opportunities to save lives.

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Consider This from NPR - Why Bill Gates is giving away his money faster

Last week, the Gates Foundation announced it would spend more than $200 billion over the next 20 years — including nearly all the personal wealth of chair Bill Gates — and sunset operations in 2045.

The Foundation says its goals are combating maternal and infant mortality, treating infectious diseases and lifting millions out of poverty.

The announcement comes at a time when the U.S. is drastically reducing foreign aid commitments under the Trump administration, and other wealthy nations are also cutting global health funding.

But in an interview with NPR about his decision, Gates said he remains optimistic that new scientific advances create opportunities to save lives.

For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org.

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WSJ What’s News - Nasdaq Enters Bull Market After U.S.-China Temporarily Slash Tariffs

 P.M. Edition for May 12. U.S. stocks rallied today—with the Nasdaq entering a bull market, closing 20% above its April low—after the U.S. and China agreed to temporarily unwind most of the tariffs they have imposed on each other’s goods since April. Plus, President Trump signs an executive order intended to lower U.S. drug prices. WSJ White House correspondent Natalie Andrews joins to discuss the order and what it means for consumers. And the retail-property market, which had bounced back after the pandemic, is starting to fall flat. Kate King, who covers real estate for the Journal, talks about why that is and what it means for the broader state of the retail industry. Alex Ossola hosts.


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The Daily Signal - Victor Davis Hanson: Trump Can Still Lead Without a Third Term

Trump is sending a clear message: he's not going away quietly.


“ If you read The Washington Post, even The Wall Street Journal, but especially The New York Times, the question is, can MAGA survive after Trump steps down?


“ There's arguments on both sides whether a popular movement can survive its creators. …   Al Gore won the popular vote in 2000 to succeed him. And what did Barack Obama do? He repudiated Clintonism and the Democratic Leadership Council. And he went hard to the Left. And the result of that is we got a destroyed or an irrelevant Democratic Party.”


00:00 Introduction: Is Trump a Lame Duck?

00:23 Trump's Media Trolling and Third Term Speculation

01:29 Historical Context: Movements and Their Leaders

01:52 Reaganism and Its Aftermath

02:49 Clintonism and Obama's Shift

03:28 The Future of MAGA: DeSantis and Beyond

05:46 Conclusion: The Enduring MAGA Ideology

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WSJ Minute Briefing - The Nasdaq Enters a New Bull Market After U.S.-China Trade Deal

U.S. markets rallied after the world’s two largest economies agreed to slash punishingly high tariffs on each other’s goods and reset the tone on trade relations. Plus: big tech stocks, retail, and consumer goods stocks surged after the announcement. Danny Lewis hosts.


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