Reuters Daily Briefing.

"US and China reach deal to slash tariffs."

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Daily Briefing

By Kate Turton

Hello. The US and China reach a deal to slash trade tariffs, Republicans reveal whether they will advance tax hike on the wealthy, and Kurdish PKK disbands and ends 40-year Turkey insurgency. Plus, a look at the rapid spread of measles, featuring a simulation based on real Texas geography.

Today's Top News   A luxury plane would be one of the most valuable gifts ever received by the US government. REUTERS/Nathan Howard/File Photo In other news US President Donald Trump's administration intends to accept a Boeing 747-8 airplane as a gift from the Qatari royal family that would be outfitted to serve as Air Force One, according to a source briefed on the matter. Republicans in Congress are expected this week to reveal whether they are willing to go ahead with Trump's suggestion to raise taxes on the rich, which would break with decades of party orthodoxy. Trump said he would cut prescription drug prices by 59%, but gave no further details about his plan to lower medicine costs ahead of a health-related event at the White House, as global pharma shares traded lower. Ukrainian president Volodymyr Zelenskiy has said he is ready to meet Russian president Vladimir Putin in Turkey. His suggestion comes after Trump told him publicly to accept Putin’s proposal of direct talks. Chief Correspondent Andrew Osborn joins the Reuters World News podcast and weighs in on the likelihood that Putin will turn up in Istanbul in person.   The Kurdistan Workers Party (PKK) militant group, which has been locked in bloody conflict with the Turkish state for more than four decades, decided to disband and end its armed struggle, a news agency close to the group reported. Here's what you need to know about the PKK. Hamas will release Israeli-American hostage Edan Alexander from Gaza the Palestinian militant group said, although Israel's prime minister said there would be no ceasefire and plans for an intensified military campaign would continue. Prime Minister Keir Starmer promised to cut net migration to Britain significantly over the next four years, saying greater control was needed to maintain social cohesion and drive investment in the local workforce. India's military operations chief is expected to hold talks with his Pakistan counterpart about the next steps after a ceasefire, New Delhi has said, as it reopened airports and share markets in the nuclear-armed neighbors edged higher. The first white South Africans granted refugee status under a program initiated by Trump boarded a plane to leave from the country's main international airport in Johannesburg.

Business & Markets   The US and China said they have reached a deal to slash reciprocal tariffs for now as the world's two biggest economies seek to end a trade war that has disrupted the global outlook and set financial markets on edge. Follow our live updates. Wall Street stock futures surged, the dollar rallied and gold prices slumped as US and Chinese officials pledged to slash reciprocal tariffs in a move that swept trade war fears out of global markets, at least for now. For more, watch our daily rundown on financial markets. Chinese battery manufacturer CATL aims to raise at least $3.99 billion in its Hong Kong listing, according to its prospectus filed, the largest listing globally so far in 2025. Bernard Arnault's son Alexandre has been handed a daunting task: reviving LVMH's worst-performing unit, the famed Moet Hennessy drinks business, in the midst of a tariff war. If successful he could gain a leg up in the closely watched succession contest among five siblings to lead the $280 billion luxury conglomerate. Nissan will additionally slash more than 10,000 jobs globally, bringing the total cuts including previously announced layoffs to about 20,000 or 15% of its workforce, Japan's public broadcaster NHK reported.

Graphics: The rapid spread of measles   Measles is approaching a return to endemic status in the United States, meaning continuously present, decades after it was declared eradicated, researchers warn. The disease has spread in 30 states with over 1,000 confirmed cases as of May 8, according to the US Centers for Disease Control and Prevention. A Reuters simulation illustrates how one case of measles could spread and shows how a small drop in vaccination rates can lead to outbreaks. View graphic

And Finally... Jennie Brennan, a volunteer with London Pigeon Rescue, looks for injured pigeons in the Hackney area of London. REUTERS/Phil Noble  Seeking solace in a turbulent world, Jennie Brennan and Jacob Peter have found an unlikely source of wellbeing: quietly rescuing and rehabilitating London's pigeons. Pigeons in urban areas often suffer from a preventable condition known as "stringfoot," in which litter such as thread, fishing line or human hair becomes entangled around their toes. Untreated, the birds can lose a toe, or even a whole foot. Read more

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