The Dow surged over 1,000 points after the Trump Administration and China reached a new bilateral agreement, aimed at lowering tariffs, reducing retaliatory measures, and establishing a foundation for future economic dialogue. The deal was announced today by President Donald Trump following high-level negotiations over the weekend in Geneva, Switzerland, marking the first joint trade statement between the two nations in several years.
The agreement comes directly after a similar breakthrough deal between the United States and the United Kingdom, underscoring the Trump administration’s renewed emphasis on trade diplomacy.
Under the terms of the deal, both countries will reduce tariffs by 115% while retaining a baseline 10% tariff on each other’s goods. The changes are set to take effect on May 14. China has agreed to remove the retaliatory tariffs and non-tariff barriers imposed since early April. The United States will eliminate additional tariffs imposed on China in April but will maintain pre-April tariffs, including Section 301 and Section 232 duties, among others.
The move is seen as a step toward addressing the longstanding US trade deficit with China, which totaled $295.4 billion in 2024 — the largest with any US trading partner. According to the joint statement, the deal seeks to begin correcting trade imbalances that have contributed to domestic job losses and a weakening manufacturing sector in the United States.
As part of the agreement, both nations will suspend their respective 34% tariffs imposed in early April for a 90-day period, though each side will maintain a 10% tariff throughout the suspension. U.S. officials emphasized that the 10% tariff serves as a structural safeguard for American manufacturing and labor interests.
The deal includes commitments from both countries to take “aggressive actions” to curb the flow of fentanyl and its chemical precursors from China to North America, reflecting an effort to link trade and national security concerns.
National Police Week, intended to honor fallen officers and their families, began May 11.
Police line of duty deaths were up 25% in 2024. They went from 118 in 2023 to 147. Those aren’t just numbers. They’re husbands, wives, moms, dads, sisters, brothers, sons, daughters, friends, co-workers, coaches, volunteers, mentors, pet owners, neighbors and so many other things that one life occupies and touches.
I was an adjunct instructor at the Alaska Department of Public Safety Academy for over 20 years. I witnessed recruits awaken to the gut realization that the path they’d chosen included placing themselves in deadly harm’s way in the protection of others—most often strangers.
During my Academy tenure, I was privileged to work with several Academy Commanders. Lt. Chad Goeden was the last one. Lt. Goeden inspired me the first time I entered his Academy office. Above the door, carved in wood, was a sign that said,
“The ability of the police to perform their duties is dependent upon public approval of police actions.” Sir Robert Peel, founder of modern policing
Not surprising to anyone who knew him, Chad was invited through a highly selective nomination process to attend the challenging 10-week FBI National Academy for leaders of law enforcement agencies. As with all such classes, Chad’s was going to visit the National Law Enforcement Officers Memorial in Washington, D.C., which honors officers who died in the line of duty. He was selected to give the benediction and subsequently shared it with me.
Thereafter, I read it aloud to every Academy class. During this month of National Police Week, with Chad’s blessing, I share it with you.
“Heavenly Father, we come before you today as a worldwide family united by a common bond. We come to honor our brothers and sisters whom You have taken to a far greater place. They gave their lives while working as guardians to protect our families, our homes, our communities, and our way of life.
Help us to remember, support and pray for their loved ones. The wives and husbands who will no longer feel the warmth of a simple hug at the end of the day. The children who have no one to answer when they call out “Daddy, Daddy!” or “Mommy, Mommy!” The parents who had to bury their own child.
Helps us to remember, support, and pray for their friends and coworkers. The ones who will never again see that quick smile as they enter the squad room or be reassured by hearing their voice on the radio, saying that backup is on the way. The ones who will have to once again stretch just a little farther to keep that thin blue line from breaking.
Help us to remember, support, and pray for their communities. The neighborhoods, counties, and states which will have one less protector patrolling the streets. One less guardian ready to answer the call, day or night, without regard for their own safety.
But most of all Heavenly Father, help each of us to remember to honor their loss by always serving with honor, humility, and professionalism. Help us to remember to use each day we have left in this noble profession to be a positive influence on everyone we meet. Help us to remember that our every word and action should be a fitting tribute to their sacrifice.
And to our fallen brothers, sisters, partners and friends whose memories continue to guide us, we salute you. Rest in peace, and know that you will never be forgotten.”
Our country has been experiencing some turmoil in police-citizen relations. Still, we are capable of reaching out to each other “in order to form a more perfect union.”
We saw such reaching out in Dallas on July 7, 2016 between Black Lives Matter protesters and police. One of the protesters described the interaction:
“They (police) gave us high fives, hugs, were taking selfies. It was such an instance of love and understanding, that ‘I’m here for you.’ You could feel it. There was no animosity in the air.”
Then shots rang out as a shooter targeted police. Five officers were killed; seven were wounded. But not before the nation saw some officers run towards the active fire while others shielded protesters and led them out of harm’s way. Afterwards, a protester who was shielded by police, would go on national news to tearfully thank the officers for their courage and sacrifice.
Lt. Goeden’s prayer beckons officers still facing the challenge of policing in these sometimes-turbulent times to continue to serve “with honor, humility, and professionalism.” Permit me to add my prayer that you find the strength and courage to do so. And that we all continue reaching out to one another—not just in times of shared grief, but also in times of protests and problem solving.
Val Van Brocklin was a senior trial attorney with the Anchorage District Attorney’s Office before she was asked to join the state’s Office of Special Prosecution and Appeals, where she had statewide responsibility for cases so complex they required specialized investigative and prosecution efforts. She was then recruited by the U.S. Attorney’s Office to prosecute complex white collar crime, for which she received the FBI’s commendation. Now she is an author, international speaker, and trainer whose work has been featured on ABC and Discovery. More about Val at this link.
Hamas will release Israeli-American hostage Edan Alexander, a 21-year-old who has been held for over 550 days, as part of an effort to reach a ceasefire deal between Israel and Hamas, President Donald Trump announced on Sunday.
“I am happy to announce that Edan Alexander, an American citizen who has been held hostage since October 2023, is coming home to his family. I am grateful to all those involved in making this monumental news happen. This was a step taken in good faith towards the United States and the efforts of the mediators — Qatar and Egypt — to put an end to this very brutal war and return ALL living hostages and remains to their loved ones. Hopefully this is the first of those final steps necessary to end this brutal conflict. I look very much forward to that day of celebration!” Trump wrote on TruthSocial.
Alexander is the only living American citizen among 59 hostages still being held in a Gaza impoundment by Hamas terrorists. Of those 59, just 21 are thought to be alive, while the condition of the others are not known. Alexander’s parents are heading to Israel with the Trump’s Special Envoy for Hostage Response Adam Boehler to welcome Alexander out of captivity.
US Secretary of the Treasury Scott Bessent and Trade Representative Ambassador Jamieson Greer announced Sunday that significant progress has been made in high-level trade negotiations between the United States and China.
The talks, held over two days in Switzerland, aimed to address longstanding trade imbalances and escalating economic tensions between the two global powers.
In a press availability with reporters, Bessent praised the Swiss government for hosting the negotiations, describing the venue as conducive to productivity.
“We made substantial progress between the United States and China in the very important trade talks,” he said, adding that details will be released on Monday about the discussions that included Chinese officials, including the country’s vice premier and two vice ministers.
Ambassador Greer said the talks were “very constructive,” and that they proceeded with at a good pace.
“There was a lot of groundwork that went into these two days,” Greer said. “Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs. We’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”
The trade deficit has been a central focus of the Trump Administration’s economic policy, with tariffs and other trade measures aimed at leveling the playing field between American and foreign markets.
According to the latest Rasmussen Reports poll, political civility has declined in America. Likely voters who responded to the question said they expect political violence to increase in the next few years.
The latest Rasmussen Reports national telephone and online survey found that 72% of 1,083 likely voters say, in thinking about the overall tone and civility in American politics over recent years, the level of civility has gotten worse. Just 12% think the level of civility has gotten better, and another 12% believe it has stayed about the same. (The survey question wording is here.)
Rasmussen Reports is known for a high degree of accuracy. In 2024, it was one of five major national pollster that accurately predicted Donald Trump’s win.
On Friday, the Alaska House of Representatives did something almost unheard of: They denied a ceremonial citation. It was not for someone controversial by action, criminality, or disgrace, but for a conservative Alaska journalist who’s dared to tell the truth too clearly, too often, and to the wrong people.
Suzanne Downing is no stranger to Alaska politics. She’s a force. A truth-teller. A thorn in the side of the establishment who’ve gotten far too comfortable operating in the dark. Through Must Read Alaska, she’s pulled back the curtain on political games, exposed backroom deals, and given a platform to the silent conservative majority in this state.
And for that, the Legislature denied her a routine nod of recognition, something they’ve freely handed out to sports mascots, pet goats, and tomato growers.
Why? Because her words hurt feelings, specifically, the fragile ego of Rep. Zack Fields, who openly admitted his problem with Downing was personal.
Let’s be clear: this wasn’t about journalistic ethics. It was political retaliation dressed up in moralizing hypocrisy. Fields has never objected to a citation before, even when he disagreed ideologically. But when someone dares call him out? Suddenly, citations must pass a purity test.
Even more disappointing were the spineless, so-called Republicans who caved to the pressure and voted to table it instead of standing up for one of the few conservative voices brave enough to take the fight to the public square.
Let’s be blunt: Suzanne Downing has done more to shape public opinion in Alaska than half the Legislature combined. It’s apparent that Downing is informed, unrelenting, and most terrifying voice of all to the political class, because she is independent of their control.
Vote on tabling citation.
Alaska’s mainstream media is MSNBC on crack, pushing spin, not facts. Suzanne built a platform that bypassed them and gave the people a voice. That’s what this petty stunt was about. The establishment couldn’t handle the truth, so they tried to silence it.
The grassroots doesn’t forget moves like this. While lawmakers play political dodgeball with ceremonial resolutions, real people are watching. This wasn’t just an insult to Suzanne … it was a slap in the face to every Alaskan who’s ever dared speak out, ask questions, or hold their elected officials accountable.
Legislators who supported this move should ask themselves: What are they so afraid of? The truth? Or the people who are waking up to it?
A proposal to reinstate a traditional pension system for new public employees in Alaska is on the House floor for its third and final reading on Monday, and is expected to pass, due to the Democrat-led majority.
House Bill 78 would shift future public employees from the current defined contribution retirement system, which is what most workers have, to a costly defined benefit pension plan. The unions and Democrats say this will help the state recruit and retain public workers.
Actuarial modeling and workforce data suggest the change could impose steep costs without delivering the intended results. In fact, although the unions say Alaska can’t retain teachers because of not having a defined pension plan, there are 11 other states that have more trouble retaining teachers than Alaska — with Arizona being the state that has the worst teacher retention.
HB 78 would cost Alaska an additional $2.1 billion over the next 30 years under the most optimistic investment assumptions, according to a recent financial analysis by the Reason Foundation.
But that’s the rosiest scenario. If investment returns mirror the state’s actual performance over the past 23 years, the additional cost could balloon to $11.4 billion.
The bill is advancing through the Democrat-controlled Legislature at the same time that lawmakers are cutting Alaskans’ Permanent Fund dividends, growing taxes, and scraping the bottom of the state’s savings account — the Constitutional Budget Reserve, which has just $2.8 billion remaining. The governor has set a hiring freeze and travel restrictions in place as revenues are not keeping pace with expenses. Gov. Mike Dunleavy has also asked legislators to join him in working on a fiscal plan that could provide stability.
No study has shown that younger workers want pensions; what they want is portability and quality of life assets. In addition, critics believe that the Legislature is actually debating an item that falls under the Alaska Constitution’s “Diminishment Clause,” which puts the state on the hook for pension payments no matter what happens.
A central issue in HB 78 is the assumed rate of return for the pension plan — 7.25%. That assumption would be among the highest in the country. Since 2001, Alaska’s pension funds have averaged only a 5.8% annual return. If the state adjusted its assumption to a more conservative 6.5%, in line with current actuarial standards, it would add $2 billion to current unfunded liabilities.
Alaska is already liable for $7.6 billion that must be paid out to those still in the pension plan that was closed in 2006.
Whether it would slow employee turnover is also a specious argument. Between 2012 and 2023, Alaska had the 11th-lowest turnover rate among state employees nationwide, averaging 13.6% annually, well below the national average of 18.7%.
Even during the pandemic, when turnover spiked across the US, Alaska remained relatively stable. That’s in part to the 37.5-hour work week and generous holiday and vacation benefits. In fact, the average state worker gets 12 holidays and at least 15 personal leave days per year, for a total of 27 days off, or five work weeks every year that state workers are paid for time off.
Comparisons with other states suggest that pension structure is not a key factor in retention. For example, Oklahoma moved to a DC plan in 2011 but has since reported some of the lowest turnover rates in its region, outperforming several DB-plan states.
Modeling from the Reason Foundation shows that HB 78 may not benefit most employees. Over 90% of new hires would receive lower retirement benefits under the proposed DB system due to its back-loaded nature. Most public workers in Alaska do not stay long enough to vest in the more generous later-years benefits typical of DB plans. In contrast, the current defined contribution plan provides better retirement value and portability for short- and mid-term employees.
One area where Alaska’s retirement system does show a gap is coverage under the Supplemental Annuity Plan, or SBS, a mandatory retirement savings program that serves as a substitute for Social Security.
While most public employees are enrolled in SBS, Alaska’s teachers are not—leaving them with no Social Security and no SBS benefit upon retirement. For a full-career teacher, this can mean a retirement income shortfall of up to $60,000 per year compared to peers with full SBS participation, the Reason Foundation said in its testimony to the Legislature last month.
The first portion of a new tax cut proposal released Friday by House Republicans on the Ways and Means Committee marks the latest step in delivering on President Donald Trump’s call for more pro-growth tax relief.
The package builds on provisions from the 2017 Tax Cuts and Jobs Act and includes income tax reductions, expanded deductions, and permanent extensions of prior tax benefits. Committee members say more provisions — including Trump’s proposed tax exemption for tips — will be introduced in the coming days.
Below is a summary of the key components unveiled so far, as analyzed by Americans for Tax Reform.
Income tax cuts
The proposal permanently extends the lower personal income tax brackets originally enacted in the 2017 tax reform law. Additionally, it provides a one-year inflation adjustment to further reduce income taxes in 2025 — a boost that applies to all brackets except the top 37% bracket.
Tax simplification
The current standard deduction, which was doubled in 2017 and is now claimed by 90% of taxpayers, would be made permanent. On top of that, the plan temporarily increases the standard deduction from 2025 through the end of 2028:
Individuals: from $15,000 to $16,000
Heads of household: from $22,500 to $24,000
Married couples: from $30,000 to $32,000
The temporary increase is set to expire on Jan. 1, 2029.
Child tax credit
The current $2,000 Child Tax Credit is made permanent, with a four-year temporary increase to $2,500 per child beginning in 2025. This enhancement will expire in 2029, at which point the credit returns to $2,000 with future inflation adjustments.
Small business relief
The popular Qualified Business Income deduction (Section 199A) for pass-through entities would rise from 20% to 22% and be made permanent. The plan also loosens phase-in limitations and indexes income thresholds to inflation beginning in 2026.
Estate and generation-skipping tax relief
The federal estate tax, referred to as the “death tax,” receives a revision. The exemption threshold is permanently increased to $15 million, indexed to inflation. The generation-skipping transfer tax exemption is also raised to the same level and made permanent.
On Saturday morning, the sun set in Utqiaġvik for the last time until Aug.2, marking the beginning of the seasonal “midnight sun” period. The phenomenon is caused by the Earth’s axial tilt that results in continuous daylight for approximately 83 days in this northernmost city in Alaska.
Located about 330 miles north of the Arctic Circle, Utqiaġvik experiences extreme variations in daylight throughout the year. From mid-November to late January, the town undergoes a polar night, where the sun doesn’t rise above the horizon. From mid-May to early August, the sun remains visible 24 hours a day.
Despite the continuous daylight, temperatures remain relatively cool (22 degrees at 9 pm) and it was overcast on Saturday.
