The President's Daily Brief - PDB Afternoon Bulletin | May 9th, 2025: Trump Floats Major Chinese Tariff Cut & Ukraine Busts Hungarian Spy Network

Episode Date: May 9, 2025

In this episode of The PDB Afternoon Bulletin:  First, President Donald Trump suggests he is willing to drastically cut U.S. tariffs on Chinese goods, just as his economic team heads to Switzerland for their first direct trade talks with officials from the communist regime. Later in the show—Ukraine is accusing Hungary of espionage after allegedly dismantling a Hungarian military spy network gathering sensitive intelligence regarding Kyiv’s defenses near their shared border.  To listen to the show ad-free, become a premium member of The President’s Daily Brief by visiting PDBPremium.com. Please remember to subscribe if you enjoyed this episode of The President's Daily Brief. YouTube: youtube.com/@presidentsdailybrief Birch Gold: Text PDB to 989898 and get your free info kit on gold. TriTails Premium Beef: Visit https://TryBeef.com/PDB for 2 free Flat Iron steaks with your first box over $250. Plus, for a limited time enjoy 5% off on almost everything site-wide excluding subscriptions and B-stock. Jacked Up Fitness: Go to https://GetJackedUp.com and use code BAKER at checkout to save 10% off your entire purchase Learn more about your ad choices. Visit megaphone.fm/adchoices

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Start selling on Deepop, where Taste recognizes taste. It's Friday the 9th of May. Welcome to the PDB afternoon bulletin. I'm Mike Baker, your eyes and ears on the world stage. All right, let's get briefed. First up, President Trump suggests that he's willing to drastically cut U.S. tariffs on Chinese goods, just as his economic team heads to Switzerland for their first direct trade talks with officials from the communist regime. Later in the show, Ukraine is accusing Hungary of espionage after allegedly dismantling a Hungarian military spy network gathering sensitive intelligence regarding Kyiv's defenses near their shared border. We'll have those details. But first, today's afternoon spotlight. We'll begin with a major update on the U.S.-China trade war as President Trump signals that he's willing to make a big tariff concession to the Chinese Communist Party. Taking to Truth Social on Friday morning, the president said he'll consider slashing his current

145% tariff on Chinese imports by nearly half. And for those of you working on your math, that would be somewhere near 80%. Well, okay, not exactly 80%, but in that region. It was the first time that Trump suggested a specific alternative to his massive tariff and comes just ahead of direct trade talks with Chinese officials this weekend. That's according to a report from the Associated Press. As we've been tracking here on the PDB, Beijing and Washington agreed earlier this week to take the first step towards finding a resolution to the crippling tariff war, which began, of course, last month, when Trump hit the Chinese Communist Party, the CCP, with the 145% duty on their exports, prompting Beijing to retaliate with a 125% tax on U.S. goods. U.S. Treasury Secretary Scott Bessent and senior U.S. trade representative Jameson Greer will meet in Geneva, Switzerland, with China's economic czar on Saturday to break the ice on the subject of mutual de-escalation.

And what appears to be an attempt to soften up the Chinese delegation ahead of the negotiations, Trump said, quote, China should open up its market to USA, would be so good for them, and then he used three exclamation marks. So it would be really good for them. closed markets don't work anymore. End quote. He then added, 80% tariff on China seems right. Up to Scott B. Of course, referring to his Treasury Secretary.

Now, whether the CCP takes Trump's remarks and the exclamation marks as an olive branch or maintains their stance that all unilateral U.S. tariffs must be dropped before substantive talks can move forward, well, that's anyone's guess. While an 80% rate would still be an extremely high import duty, it would bring some measure of welcome relief to Chinese manufacturers, which of course have so far borne the brunt of the economic

standoff. The trade talks in Geneva are scheduled to run through May 12, though neither the U.S. nor China has specified what the agenda will look like. Beliegered global investors are hoping to see signs of a diplomatic breakthrough, such as potential tariff exemptions for specific product categories critical to both the U.S. and Chinese economies, even if the two sides are not yet able to hammer out broader trade terms. But some observers are more optimistic than others. Many financial analysts have said the Chinese delegation will likely maintain a hardline posture in the early talks, which they predict could drag on for several months or longer. They point to a statement from Chinese officials earlier this week that said their participation in the talks is not a sign of them

caving to U.S. pressure, but based on a consideration of global expectations, China's interests and appeals from American businesses and consumers. At a daily press conference on Wednesday, a spokesman for China's foreign ministry stated that Beijing's, quote, position of firmly opposing U.S. abuse of tariffs has not changed. They added, quote, if the United States wants to resolve the issue through negotiations, it must face up to the serious negative impact of unilateral tariff measures on itself and the world, end quote. But despite their face-saving rhetoric, the significant impact the tariffs have already had on China's export-dependent economy may make the CCP more willing to find a diplomatic off-ramp to the trade war. The CCP has already begun quietly exempting a host of U.S. made

products from their 125% retaliatory tariff. While China is not publicly acknowledging the exemptions, they are substantial, applying to roughly $40 billion in goods or nearly a quarter of all Chinese imports from the U.S. this year. The exemptions cover. a range of products from pharmaceuticals and industrial chemicals to aviation components and critical inputs for electronics manufacturing. Since early April, Beijing has also been privately surveying businesses about other potential sectors where tariff waivers might be appropriate. Analysts say that this quiet approach by the CCP shows that China is eager to de-escalate, even as they publicly maintain their hardline messaging demand that the U.S. backed down. Still, so far, so far,

the exemptions have not been enough to stop the financial bleeding. As we discussed earlier this week on the PDB, the mounting strain of the tariffs on China's economy has been difficult for the CCP to contain. Factory activity in China has now slipped into its sharpest contraction since late 2023, and numerous Chinese manufacturers have paused production entirely and shut down operations as they scrambled to find new buyers. Goldman Sachs recently estimated that some 16 million jobs across Chinese industries are now at risk, as China's export orders hit their lowest levels since the worst days of the COVID lockdowns. Coming up next, tensions in Eastern Europe escalate as officials in Kiev accuse Hungary

of engaging in espionage, such a charge that officials in Budapest are calling Ukrainian propaganda. I'll be right back. Hey, Mike Baker here. Now, this July, maybe you've heard about this, but this July, there's going to be a global summit of the BRICS nations in Rio de Janeiro. The block of emerging superpowers that includes China and Russia and India and Iran, well, they're meeting with the goal of displacing the U.S. dollar as the global currency, and they're calling this the Rio Reset. That's a catchy name. As BRICS nations push forward with their plans, well, demand for U.S. dollars could decrease,

bringing down the value of the dollar. While this transition, of course, won't happen overnight. the Rio reset, well, it marks a pivotal moment when Brick's objectives move from possibility toward reality. So, you ask yourself, what can you do to help protect your hard-earned savings? Well, I'm going to tell you, one of the things you could do is check in with the Birch Gold Group. But Birch Gold can help you move your hard-earned savings into a tax-sheltered IRA in precious metals. Claim your free information kit on gold by simply texting PDB to the number 989-89-89. 898. Look with an A-plus rating with the Better Business Bureau and tens of thousands of happy customers, let Birch Gold arm you with a free information kit on owning gold before the July Rio reset.

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Perhaps it's true. Everything happens for a recesses. Welcome back to the afternoon bulletin. Ukrainian officials say that they have dismantled a Hungarian spy network operating along their western border with Hungary, arresting two alleged operatives who were gathering sensitive intelligence. The incident marks the first occasion in Ukraine's history that authorities have uncovered a Hungarian espionage network operating on their soil and threatens to drive an even larger wedge between Kiev and leaders in Budapest. Ukraine and their western neighbor have long had a tense relationship, particularly given Hungarian Prime Minister Viktor Orbán's affinity for Russian

President Putin. The Hungarian leader has repeatedly attempted to use his position as an EU member to block military aid to Kiev. But this new subversive discovery, well, could sink relations to new lows, that's according to our report from ABC News. Ukraine's intelligence service, also known as the SBAU, announced the arrest of the two suspects on Friday, identifying both as former members of the Ukrainian military and claiming that their supervisor is a Hungarian military intelligence officer. The activity of the alleged spies was said to be focused on the Zagarpatia region, that runs along Ukraine's border with Hungary and is home to a substantial Hungarian ethnic minority. Budapest and Kiev have often clashed over the rights of ethnic Hungarians in the region,

which until the end of World War I belonged to Hungary. Officials with Ukraine's SBU said the operatives were conducting activities, quote, to the detriment of our state, allegedly gathering intelligence on military defenses and identifying vulnerabilities in its ground than air defense systems. Even more troubling, they were also reportedly, assessing the political views of local residents, specifically how residents would react if Hungarian troops crossed the border into the region. Detailing the allegations, SPU officials said one of the suspects was allegedly recruited by Hungarian intelligence more than four years ago

and placed on standby in 2021. According to our report from the Kiev Independent, he was, quote, activated in September of 2024 and subsequently carried out reconnaissance regarding the location of S-300 air defense systems, and the deployment of Ukrainian troops. He then crossed the border in Hungary to deliver reports to his handler who provided him with cash to fund the operation and ordered him to establish a network of informants. Ukrainian officials surveilled him as he reportedly tried to recruit at least two other individuals. The suspect had a second meeting with his handler in March of 2025, where he received a phone encoded with a special software for covert communications. He returned to Ukraine with orders to track Ukrainian military vehicles and report on developments

from the front lines of the war. The second suspect is a former member of Ukraine's security forces who left her position earlier this year. She was allegedly tasked with tracking military aircraft operating in the Zagropatia region and spilling secrets regarding air defense systems operated by her former military unit. Hungary's foreign minister was quick to hit back at the allegations of espionage, calling Keeves claims, quote, anti-Hungarian propaganda. We should note, however, that he did not expressly deny that Hungarian espionage cells are operating inside Ukraine. The foreign minister said,

quote, I urge everyone to exercise caution against any news that appears in Ukrainian propaganda. If we get any details or official information, then we can deal with it, end quote. The suspects, meanwhile, face charges of treason, which is punishable in Ukraine by life in prison. And that, my friends, is the PDB afternoon bulletin for Friday the 9th of May. Now, if you have any questions or comments, please reach out to me at PDB at thefirsttv.com. And according to all available intelligence, today is Friday. And as with every Friday, that means we'll be launching a brand new episode of the PDB Situation Report this evening at 10 p.m. on the first TV. Our excellent and guests this week include Jeff Smith from the Heritage Foundation and the always insightful China

analyst and author Gordon Chang. We'll be examining the growing conflict between India and Pakistan, got to keep your eye on that one, and digging into the current trade war between the U.S. and China. As always, you can catch the Situation Report on our YouTube channel. Check that out. You can find it at President's Daily Brief, and of course, all podcast platforms everywhere. I'm Mike Baker, and I'll be back over the weekend with the PDB Situation Report. Until then, well, stay informed, stay safe, stay cool. Hey, Mike Baker here. I want to take just a few seconds of your time to talk about fitness, right?

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