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It’s Monday. Get ready for a busy two work weeks on Capitol Hill. Everyone has their eye on the Memorial Day weekend prize.

In today's issue:

• 90-day pause in Trump’s China trade war
• Trump’s controversial order to lower drug prices
• Qatar gifts Trump a luxury jet
• Trump leaves for Middle East trip

🤝️ IN THE WHITE HOUSE

Consumers can exhale for 90 days:

The United States and China announced this morning that they have agreed to a 90-day pause on most retaliatory tariffs.

The 90-day deal: The U.S. agreed to lower its tariff rate on Chinese imports from 145 percent to 30 percent. China agreed to lower its tariff rate from 125 percent to 10 percent.

The stock market ❤️ this news: Stocks soared this morning following the announcement. The Dow Jones Industrial Average rose 2.6 percent after the opening bell. The S&P 500 increased by 3 percent, and the Nasdaq composite was up 4.1 percent.

How this came about: Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer have been in Switzerland negotiating with Chinese officials.

Now what?: Officials in both countries have pledged to continue negotiations for a lasting trade deal.

Trump’s next target — drug price caps:

President Trump signed a controversial executive order this morning aimed at drastically lowering drug prices. For the next month, the Department of Health and Human Services will be able to negotiate with the pharmaceutical industry.

Why?: “It is Trump’s latest effort to try to rein in U.S. prescription drug prices, which are two to three times higher on average than those in other developed nations – and up to 10 times more than in certain countries, according to the Rand Corp., a public policy think tank.” (CNBC)

Omg: During Trump’s announcement, he mentioned the “fat shot drug,” referring to weight loss injectable medications.........

© The Hill