Federal prosecutors will begin trying to prove Monday that Sean "Diddy" Combs turned his hip-hop conglomerate into a racketeering enterprise that forced women to satisfy his sexual desires for two decades. Testimony in Combs' New York trial could begin as soon as the afternoon, after a final phase of jury selection and opening statements from the lawyers.

Combs, wearing a white sweater and with his formerly jet-black hair now almost completely gray, entered the courtroom shortly before 9 a.m., hugging lawyers and giving a thumbs up to supporters seated in wooden court benches behind him. Earlier in the morning, a line to get into the courthouse stretched all the way down the block. Combs' mother and some of his children were escorted past the crowd and brought straight into the building.

Combs has pleaded not guilty to charges including one count of racketeering conspiracy, two counts of sex trafficking by force, fraud or coercion, and two counts of transportation to engage in prostitution. Presiding is U.S. District Judge Arun Subramanian. Assistant U.S. Attorney Maurene Comey is the lead prosecutor. New York lawyer Marc Agnifilo is leading the defense.

Combs is a cultural icon and a criminal, prosecutor says

Assistant U.S. Attorney Emily Johnson pointed at Combs as she stood before the jury.

"To the public he was Puff Daddy or Diddy. A cultural icon. A businessman. Larger than life," Johnson said. "But there was another side to him. A side that ran a criminal enterprise."

"During this trial you are going to hear about 20 years of the defendant's crimes. But he didn't do it alone. He had an inner circle of bodyguards and high-ranking employees who helped him commit crimes and cover them up."

Those crimes, she said, included: Kidnapping, arson, drugs, sex crimes, bribery and obstruction.

The hip-hop icon leaned back in his chair as she spoke.

Standard instructions take added weight in this celebrity trial

The jury and alternates 12 men and 6 women are now seated in the courtroom. Openings will start after the judge finishes explaining the law as it relates to this trial, along with incidentals such as that a light breakfast will be provided to them in addition to lunch.

The jury is essentially anonymous, meaning their identities are known to the court and the prosecution and defense, but won't be made public.

"We will keep your names and identities in confidence," Subramanian told jurors.

It's a common practice in federal cases to keep juries anonymous, particularly in sensitive, high-profile matters where juror safety can be a concern. Juror names also were kept from the public in Donald Trump's criminal trial last year in state court in New York.

Subramanian tells jurors to judge the case only based on the evidence presented in court. It's a standard instruction, but carries added significance in this high-profile case, which has been the subject of intense media coverage.

"Anything you've seen or heard outside the courtroom is not evidence," the judge said. "It must be disregarded."

Judge rejects claim of discriminatory jury strikes

The judge rejected the defense's claim that the prosecution's strikes of potential jurors were discriminatory because seven Black individuals were struck from the jury.

The judge said Comey had given "race-neutral reasons" to explain each strike and that the defense had failed to show purposeful discrimination.

Some of the reasons why prosecutors said they excluded some potential jurors

Comey said one juror seemed favorably inclined toward 17 people she learned about by watching Combs' TV show "Making the Band," which Comey said will come up during the trial.

She said another claimed he would lose 30 percent of his income by sitting on the jury, but didn't seem bothered, which "made us worried that he had an agenda and was trying to get on the jury."

Another potential juror, she said, had difficulty speaking English, expressed doubts he could be fair and had a nephew who'd been jailed for shooting at a police officer.

Supreme Court ruled against excluding jurors solely because of their race

In the 1986 Batson v. Kentucky ruling, a Black man was convicted of robbery by an all-white jury after the prosecutor used what are known as peremptory challenges to strike all four prospective Black jurors.

During jury selection, each side is given a limited number of peremptory challenges that allows them to eliminate people from the jury pool without stating a reason.

Since the decision and subsequent rulings that have expanded its scope, the term "Batson challenge" has taken hold to describe an objection raised by one side when it appears the other could be excluding potential jurors based on demographic characteristics, such as race, gender, national origin, religion or sexual orientation.

A jury has been selected in Sean 'Diddy' Combs' sex trafficking trial

The defense announced its 10 strikes and prosecutors announced their six strikes for the creation of the main panel. Then, they struck jurors from the pool of alternates.

A defense lawyer claimed that prosecutors struck seven Black people from the jury, which he said amounts to a pattern. As a result, Comey gave reasons to explain why prosecutors struck each of the prospective jurors from the jury. She noted that at least one text message to be unveiled during the trial will describe Combs' behavior as "bi-polar or manic."

The witnesses and the evidence:

Without identifying them publicly, prosecutors have said four of Combs' accusers will testify at the trial. The prosecution will be allowed to show the jury security video of Combs beating and kicking one of his accusers, the R&B singer Cassie, in a Los Angeles hotel hallway in 2016. Diddy's attorneys are expected to argue at trial that the government is demonizing and distorting the sexual activity of consenting adults.

About the defense

Combs' team of seven defense attorneys is sitting in two rows, with others behind them. They're led by New York lawyer Marc Agnifilo, who along with his wife Karen Friedman Agnifilo is also defending Luigi Mangione, the man accused of the murder of UnitedHealthcare CEO Brian Thompson.

About the prosecution

The team has consisted of eight assistant U.S. attorneys, seven of them women.

The prosecutor who will deliver an opening statement is Emily Johnson. Leading the team is Maurene Ryan Comey, daughter of former FBI Director James Comey. She was among the prosecutors in the trial of Ghislaine Maxwell, who was convicted of luring teenage girls to be sexually abused by Jeffrey Epstein.

The judge warned a Mark Geragos, a lawyer for the music mogul, to tame his public comments last week, saying it was "outrageous" that he referred to prosecutors during a podcast as a "six-pack of white women."

About the judge

Subramanian is a Columbia Law School graduate and former clerk for Supreme Court Justice Ruth Bader Ginsburg, and was appointed a federal judge by President Joe Biden in 2022.

Proceedings beginning with final stage of jury selection

This is when lawyers on both sides can strike several jurors from the panel.

For this trial, defense lawyers are allowed to eliminate 10 individuals and prosecutors can dismiss six to create a panel of 12 jurors. Each side is allowed to eliminate another three jurors from the group of six alternates. They don't have to explain their reasons unless the opposing lawyers claim they were striking jurors from the panel for inappropriate reasons, such as race.

This phase of jury selection usually takes less than an hour. One of Combs' lawyers claimed on Friday that it could be finished in 10 to 15 minutes. The lawyers are working from a panel of about 45 prospective jurors.

Combs gives a thumbs up

Sean "Diddy" Combs entered the courtroom shortly before 9 a.m., hugging his lawyers and giving a thumbs up to spectators who will sit on benches behind the well of the courtroom. The audience includes his mother and at least four of his children.

About the courthouse

Subramanian is presiding over the trial at the Daniel Patrick Moynihan United States Courthouse in lower Manhattan, blocks from City Hall and overlooking the East River and the Brooklyn Bridge.

The courthouse, opened in the mid-1990s, is next to the Thurgood Marshall United States Courthouse, which was built in the 1930s.

Most of the federal judges work out of the newer courthouse. The older one, which was refurbished in the early 2000s, houses the U.S. 2nd Circuit Court of Appeals and several district court judges have their chambers and courtrooms there as well.

The courtroom only seats about 100 people

And journalists probably get two to three dozen. So most of the people in line will end up in overflow rooms.

This courtroom is one of the larger venues in the courthouse that are used for the biggest trials, including when Donald Trump came early last year for E. Jean Carroll defamation trial. The line to get in stretched all the way down the block. One line-sitter was trying to sell his spot for $300 after holding his place overnight.

After a final phase of jury selection in the morning, federal prosecutors will begin trying to prove that Combs turned his hip-hop conglomerate into a racketeering enterprise that forced women to satisfy his sexual desires. Combs has pleaded not guilty.

A jury trial is underway in Wayne County for a Detroit felon accused of murdering a Farmington Hills man four and a half years ago.

It’s the second trial for the case against 54-year-old Robert Lee Bailey, Jr., charged with first-degree murder, felony murder, armed robbery, felon in possession of a firearm, and four counts of second-degree felony firearm in connection with the death of Darius Whiting. A trial late last year ended in mistrial.

Prosecutors allege Whiting was killed on Sept. 22, 2020 during an armed robbery in Dearborn. Police officers dispatched the next day to an alley on Schlaff Street, near Michigan Avenue and Schaefer Road, found Whiting’s body in a car.

It was subsequently determined Whiting died from multiple gunshot wounds, according to the Wayne County Prosecutor’s Office. He was 49 years old.

Bailey was arrested five months after the slaying. His criminal history includes a prior conviction for second-degree murder; he was released from prison in June of 2020 and on parole at the time Whiting was killed.

Judge Mark Slavens of Wayne County’s third judicial circuit is presiding over the trial.

For the sixth year, DG Realty Group and the Oakland County Sheriff's Office are teaming up to collect new and used bikes, helmets and accessories for locals kids in need.

This bike drive is park of the Sheriff's Re-CYCLE for Kids program. It will be held on Saturday, May 17, from 10 a.m.-4 p.m.

Since we launched the Sheriffs Re-CYCLE for Kids program in 2006, the generosity of individuals and businesses in our community has allowed us to collect, refurbish and donate thousands of bikes to people in need, said Sheriff Michael J. Bouchard. But there are still countless children without bikes, and were asking the community to help us change that.

The programs works to refurbish donated bikes, with help from the Sheriff PAL program team and volunteers.

Donations will be accepted at the following locations:

Collection Truck in Downtown Birmingham - 10 a.m. 4 p.m.

Haynes & S. Old Woodward, Birmingham

City of Birmingham Department of Public Services Open House 10 a.m. 2 p.m.

851 S. Eton Street, Birmingham

At least 10 people in the U.S. have been sickened in a listeria outbreak linked to ready-to-eat food products, and a producer is voluntarily recalling several products, federal officials said.

The U.S. Food and Drug Administration said Saturday that federal, state and local officials are investigating the outbreak linked to foods produced by Fresh & Ready Foods LLC of San Fernando, California. The FDA says the 10 people who fell ill were in California and Nevada, and required hospitalization.

The agency said the products were sold in Arizona, California, Nevada and Washington at locations including retailers and food service points of sale, including hospitals, hotels, convenience stores, airports and by airlines.

RELATED STORY | FDA plans to increase surprise inspections at companies outside of the US

Listeria symptoms usually start within two weeks of eating contaminated food. Mild cases can include fever, muscle aches, nausea, tiredness, vomiting and diarrhea, while more severe symptoms may include headache, stiff neck, confusion, loss of balance and convulsions.

Federal officials said they started investigating the recent outbreak last year but didn't have enough evidence to identify a source of the infections. They said the investigation was reopened in April when FDA investigators found listeria in samples collected from Fresh & Ready Foods that matched the strain from the outbreak.

Fresh & Ready Foods said in a news release that it took immediate corrective actions, including removing equipment to address the issue.

The FDA found that six of the 10 people who got sick had been hospitalized before becoming ill with listeria. The FDA found that items made by Fresh & Ready Foods had been served in at least three of the health care facilities where the patients had been previously treated.

The Centers for Disease Control and Prevention said that the test samples from sick patients were collected from December 2023 to September 2024.

Fresh & Ready voluntarily recalled several products, which can be identified by "use by" dates ranging from April 22 to May 19 of this year under the brand names Fresh & Ready Foods, City Point Market Fresh Food to Go and Fresh Take Crave Away.

By LISA MASCARO, Associated Press Congressional Correspondent

WASHINGTON (AP) — House Republicans have unveiled the cost-saving centerpiece of President Donald Trump’s “big, beautiful bill,” at least $880 billion in cuts largely to Medicaid to help cover the cost of $4.5 trillion in tax breaks.

Tallying hundreds of pages, the legislation revealed late Sunday is touching off the biggest political fight over health care since Republicans tried but failed to repeal and replace the Affordable Care Act, or Obamacare, during Trump’s first term in 2017.

While Republicans insist they are simply rooting out “waste, fraud and abuse” to generate savings with new work and eligibility requirements, Democrats warn that millions of Americans will lose coverage. A preliminary estimate from the nonpartisan Congressional Budget Office said the proposals would reduce the number of people with health care by 8.6 million over the decade.

“Savings like these allow us to use this bill to renew the Trump tax cuts and keep Republicans’ promise to hardworking middle-class families,” said Rep. Brett Guthrie of Kentucky, the GOP chairman of the Energy and Commerce Committee, which handles health care spending.

But Democrats said the cuts are “shameful” and essentially amount to another attempt to repeal Obamacare.

“In no uncertain terms, millions of Americans will lose their health care coverage,” said Rep. Frank Pallone of New Jersey, the top Democrat on the panel. He said “hospitals will close, seniors will not be able to access the care they need, and premiums will rise for millions of people if this bill passes.”

As Republicans race toward House Speaker Mike Johnson’s Memorial Day deadline to pass Trump’s big bill of tax breaks and spending cuts, they are preparing to flood the zone with round-the-clock public hearings this week on various sections before they are stitched together in what will become a massive package.

The politics ahead are uncertain. More than a dozen House Republicans have told Johnson and GOP leaders they will not support cuts to the health care safety net programs that residents back home depend on. Trump himself has shied away from a repeat of his first term, vowing there will be no cuts to Medicaid.

All told, 11 committees in the House have been compiling their sections of the package as Republicans seek at least $1.5 trillion in savings to help cover the cost of preserving the 2017 tax breaks, which were approved during Trump’s first term and are expiring at the end of the year.

But the powerful Energy and Commerce Committee has been among the most watched. The committee was instructed to come up with $880 billion in savings and reached that goal, primarily with the health care cuts, but also by rolling back Biden-era green energy programs. The preliminary CBO analysis said the committee’s proposals would reduce the deficit by $912 billion over the decade — with at least $715 billion coming from the health provisions.

Central to the savings are changes to Medicaid, which provides almost free health care to more than 70 million Americans, and the Affordable Care Act, which has expanded in the 15 years since it was first approved to cover millions more.

To be eligible for Medicaid, there would be new “community engagement requirements” of at least 80 hours per month of work, education or service for able-bodied adults without dependents. People would also have to verify their eligibility to be in the program twice a year, rather than just once.

This is likely to lead to more churn in the program and present hurdles for people to stay covered, especially if they have to drive far to a local benefits office to verify their income in person. But Republicans say it’ll ensure that the program is administered to those who qualify for it.

Many states have expanded their Medicaid rosters thanks to federal incentives, but the legislation would cut a 5% boost that was put in place during the COVID-19 pandemic. Federal funding to the states for immigrants who have not shown proof of citizenship would be prohibited.

There would be a freeze on the so-called provider tax that some states use to help pay for large portions of their Medicaid programs. The extra tax often leads to higher payments from the federal government, which critics say is a loophole that creates abuse in the system.

The energy portions of the legislation run far fewer pages, but include rollbacks of climate-change strategies President Joe Biden signed into law in the Inflation Reduction Act.

It proposes rescinding funds for a range of energy loans and investment programs while providing expedited permitting for natural gas development and oil pipelines.

Associated Press writer Amanda Seitz contributed to this report.

The Super Bowl champion Philadelphia Eagles will kick off the 2025 NFL season against their division rivals, the Dallas Cowboys.

The game is scheduled for Thursday, Sept. 4, and will air on NBC.

Expectations are high for the Eagles heading into the season, with stars Jalen Hurts and Saquon Barkley returning. The team also bolstered its defense by selecting Alabama linebacker Jihaad Campbell in the first round of the NFL Draft.

RELATED STORY | 2025 NFL Draft: Cam Ward goes No. 1 to Titans

The Cowboys will begin the season with a new head coach. Brian Schottenheimer takes over after Mike McCarthy was released following a 7-10 season. Quarterback Dak Prescott returns, and he will have standout wide receivers CeeDee Lamb and George Pickens.

The NFL is set to unveil the full 2025 schedule on Wednesday. It will feature seven international games, with matchups taking place in So Paulo, Berlin, Madrid, Dublin and London.

RELATED STORY | Cleveland Browns pick quarterback Shedeur Sanders in round 5 of NFL Draft

U.S. Rep. Rashida Tlaib is endorsing a primary challenger to fellow Democratic Congressman Shri Thanedar, an unusual move that highlights ideological divisions among Michigan Democrats. Tlaib on Monday threw her support behind state Rep. Donavan McKinney, who is running against U.S. Rep. Shri Thanedar in the 13th Congressional District.

By ANNIE MA, MAKIYA SEMINERA and JOCELYN GECKER, Associated Press

As he finishes college in China, computer science student Ma Tianyu has set his sights on graduate school in the United States. No country offers better programs for the career he wants as a game developer, he said.

He applied only to U.S. schools and was accepted by some. But after the initial excitement, he began seeing reasons for doubt.

First, there was President Donald Trump’s trade war with China. Then, China’s Ministry of Education issued a warning about studying in America. When Ma saw the wave of legal status terminations for international students in the U.S., he realized he needed to consider how American politics could affect him.

The recent developments soured some of his classmates on studying in the U.S., but he plans to come anyway. He is ready “to adapt to whatever changes may come,” he said.

American universities, home to many programs at the top of their fields, have long appealed to students around the world hoping to pursue research and get a foothold in the U.S. job market. The durability of that demand faces a test under the Trump administration, which has taken actions that have left international students feeling vulnerable and considering alternate places to study.

“All of the Trump administration’s activities have been sending a message that international students are not welcome in the U.S.,” said Clay Harmon, executive director of AIRC, a professional association for international enrollment managers at colleges.

Competitors see an opening to carve into US dominance

Around 1.1 million international students were in the U.S. last year. A large decline in their ranks could cripple school budgets that rely on tuition from foreign students, who are ineligible for federal student aid and often pay full price to attend.

It’s too early to quantify any impact from the administration’s crackdown, which has included new scrutiny of student visas and efforts to deport foreign students for involvement in pro-Palestinian activism. But many fear the worst.

“Students and their families expect and need certainty,” said Fanta Aw, executive director and CEO of NAFSA, an association of international educators. “And they do not function well in a volatile environment like the one we have currently.”

The U.S. has been rebounding from a decline in international enrollment that was exacerbated by the COVID-19 pandemic. As top competitors such as Canada, Australia and the United Kingdom rolled back recruiting efforts and made immigration policies less welcoming, the U.S. appeared ready to bring in far more students.

Now, a few months into the Trump administration, industry experts say it’s unlikely the U.S. will be able to capitalize.

“The U.S. was so perfectly positioned to become the far and away, clear first-choice destination for international students,” said Mike Henniger, CEO of Illume Student Advisory Services. His company works with colleges in the U.S., Canada and Europe to recruit international students. “Then it just went out the door.”

In Canada, where colleges saw enrollment increases during the first Trump administration, they are hoping for another bounce. In a letter following the recent election, a member organization for Canadian universities urged the new Liberal government to address immigration policies that have affected recruitment of foreign students.

“This is a moment of real opportunity for the country to attract international talent,” said Gabriel Miller, president of Universities Canada.

America’s appeal as a place to start a career remains resilient

The U.S. holds strong appeal for students prioritizing career outcomes, in part because of the “optional practical training” program, which allows foreign students to stay on their student visas and work for up to three years, said Lindsey López of ApplyBoard, an application platform for students seeking to study abroad.

Graduates earning this post-college work experience were among the foreigners whose legal status or visas were terminated this spring.

Still, the diversity and size of the U.S. job market could help American schools stay ahead of the competition, López said.

“The U.S. is the largest economy in the world,” she said. “It’s just the vastness and also the economic diversity that we have in the U.S., with a whole variety of different industries, both public and private, for students to choose from.”

William Paterson University, a public institution of 10,000 students in New Jersey, typically has around 250 international students. It expects an increase in foreign students in the fall, according to George Kacenga, vice president for enrollment management. The school has focused on designing programs around STEM majors, which appeal to international students because they open access to OPT programs.

Students have expressed concern about securing visas, but most of the school’s international students are from India and report they are getting appointments, he said.

In Shanghai, many students in Austin Ward’s 12th grade class have either committed to attending U.S. colleges or are considering it. Ward teaches literature in a high school program offering an American Common Core curriculum for Chinese students.

Ward said he avoids discussing politics with his students, but some have asked him about the U.S. government’s termination of students’ legal statuses, signaling their concern about going to the U.S.

To Ward’s knowledge, the students who planned to attend American colleges have not changed their minds. Frustrated with the stress the situation has caused, Ward said he wrote a letter to his U.S. representative on the need to protect international students.

His students are coming to America to “expand their horizons,” he said, not threaten the country.

“If my students have to worry about that, and if students are losing their visas, then America is not going to have that strength of being an academic center,” he said.

---

The Associated Press’ education coverage receives financial support from multiple private foundations. The AP is solely responsible for all content. Find the AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org.

Dundee Community Schools said it has paused all school-based wrestling activities amid an investigation into hazing within the team.

In a letter dated Friday, Dundee Superintendent Scott Leach said the investigation began last month after he received an anonymous complaint about alleged hazing involving wrestling team members.

According to the letter, the high school administration and the school resource officer began investigating. That investigatio included interviews with wrestlers, coaches and parents.

"During the investigation, it was brought to our attention that videotaped evidence existed of additional incidents of hazing, fights and even physical assaults by wrestling team members against other wrestling team members," Leach wrote in the letter.

He said the district has initiated a Title IX investigation that will be conducted by Thrun Law Firm. Leach also said the district will work closely with law enforcement as they conduct their own investigation.

In the letter, Leach said the district is encouraging anyone with information to contact them, and information can be shared anonymously using the form here, through OK2SAY by calling (855) 565-2729 or texting 652729 (OK2SAY). Tips can also be shared by emailing ok2say@mi.gov, online at ok2say.com and through the OK2SAY mobile app

"At Dundee Community Schools, we expect our student-athletes to adhere to the highest standards of conduct. This situation does not represent the vast majority of our outstanding student-athletes who compete with honor, grit and integrity," Leach said.

He also said they will be providing updates as they learn more information.

"Working together, I am confident we can emerge from this matter a stronger Viking community," Leach wrote.

U.S. stocks are leaping Monday after China and the United States announced a 90-day truce in their trade war. They agreed to take down most of their tariffs that economists warned could start a recession and create shortages on U.S. store shelves.

The S&P 500 was 2.6% higher in early trading and back within 5.5% of its all-time high set in February. Since falling nearly 20% below that mark last month, the index has been roaring higher on hopes that President Donald Trump will lower his tariffs after reaching trade deals with other countries. The index, which sits at the heart of many 401(k) accounts, is back above where it was on April 2, Trump's "Liberation Day," when he announced stiff worldwide tariffs that caused worries to spike about a potentially self-inflicted recession.

The Dow Jones Industrial Average was up 957 points, or 2.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 3.6% higher.

It wasn't just stocks surging following what one analyst called a "best case scenario" for US-China tariff talks. Crude oil prices jumped more than 3% because a global economy less weakened by tariffs would be hungrier for fuel. The value of the dollar climbed against everything from the euro to the Japanese yen to the Swiss franc. And Treasury yields jumped on expectations that the Federal Reserve won't have to cut interest rates so deeply this year in order to protect the economy from the damage of tariffs.

RELATED STORY | US and China step back from sky-high tariffs, agree to 90-day pause

Of course, conditions could change quickly again, as Wall Street has seen all too often in Trump's on-again-off-again rollout of tariffs. Plus, the reduction in U.S. and China tariffs will last only 90 days. That's to give the world's two largest economies time for more talks, followed last weekend's negotiations in Geneva, Switzerland, that the U.S. side said had made " substantial progress."

Until then, a joint statement said the United States will cut tariffs on Chinese goods to 30% from as high as 145%. China said its tariffs on U.S. goods will fall to 10% from 125%. That follows a deal the United States announced last week with the United Kingdom that will bring down tariffs on many U.K. imports to 10%.

Big challenges remain in the negotiations between China and the United States, but the mood nevertheless was ebullient across Wall Street on Monday, and gains were widespread.

Apparel companies jumped to some of the biggest gains because much of their production is often in China and elsewhere in Asia. Lululemon leaped 10%, and Nike rose 7.3%.

Travel companies jumped on hopes that lower tariffs would encourage more customers to fly and feel comfortable enough to spend on trips. Carnival rose 8.9% and Norwegian Cruise Line rose 8%.

Retailers like Best Buy and Amazon jumped because they won't have to pass on high costs caused by tariffs to their own customers. Both rose at least 7%.

In stock markets abroad, indexes rose across most of Europe and Asia, though often by less than the U.S. market.

India's Sensex shot up 3.7% after India and Pakistan agreed to a truce after talks to defuse their most serious military confrontation in decades. The two armies have exchanged gunfire, artillery strikes, missiles and drones that killed dozens of people.

Pakistan's KSE 100 surged more than 9% and trading was halted for one hour following a spike driven by the ceasefire and an International Monetary Fund decision Friday to disburse about $1 billion of a bailout package for its battered economy.

In the bond market, the yield on the 10-year Treasury jumped to 4.45% from 4.37% late Friday. The two-year yield, which more closely tracks expectations for what the Fed will do with interest rates, jumped even more. It rose to 3.99% from 3.88% as traders ratchet back expectations for how many cuts to rates the Fed may deliver this year. Many now see just two cuts this year, according to data from CME Group.

Gigantic bounce houses are returning to metro Detroit this month with the Big Bounce America Tour in Fraser.

See drone video from the bounce house in the video below

World's Largest Bounce House returning to Fraser the next 2 weekends

According to The Big Bounce America, there will be massive inflatable attractions coming to Steffens Park in Fraser starting on Saturday, May 17.

The different bounce houses coming to the event are:

The World's Largest Bounce House - 24,000 square feet and 32 feet tall, with giant slides, ball pits, climbing towers, basketball hoops and more. Plus, a custom stage with a DJ playing music. The Giant - A 900-foot-long obstacle course with 50 different obstacles Sport Slam - A customized sports arena with goals, nets, hoops and balls of every size airSPACE - A space-themed bounce house with a five-lane slide and 25-foot-tall inflatable alien OctoBlast - Part bouncer, part foam party that's also a deep sea world with ocean creatures, fam cannons and more

Tickets for the event start at $22 and organizers say it's expected to sell out. There are all-access tickets available. It runs Saturday, May 17, Sunday, May 18 and then Friday, May 23 through Sunday, May 25 at Steffens Park on Garfield Rd. in Fraser.

President Donald Trump signed an executive order Monday aimed at lowering the cost of certain prescription medications.

According to the Associated Press, a White House official said the order directs the Department of Health, led by Robert F. Kennedy Jr., to negotiate reduced drug prices with pharmaceutical companies.

Kennedy praised the move, calling it a long-overdue step that Congress had failed to take.

Some estimates show the pharmaceutical industry spends three times more on lobbying than the next largest industry, Kennedy said.

If negotiations fail, the administration plans to implement a new rule that would tie U.S. drug prices to the lower costs paid by other countries.

The United States will no longer subsidize the healthcare of foreign countries, President Trump said.

RELATED STORY | FDA approves painkiller designed to eliminate the risk of addiction associated with opioids

While the executive order is broad and not limited to a specific class of medication, officials said Americans can expect the price of GLP-1 drugs, which are in high demand for weight loss, to be impacted.

There will be a particular focus on drugs where there are the largest disparities and highest expenditures, a White House official said. It would be fair to expect that GLP-1s, given they fall into both categories, will be a focus. If their prices dont come down, well explore other policy levers to bring them down.

The order is expected to face legal and political challenges from the pharmaceutical industry.

RELATED STORY | FTC sues pharmaceutical middlemen, claiming practices inflated insulin cost

Motorists in Michigan preparing to travel during Memorial Day Weekend are hoping gas prices continue to decrease.

This weekend motorists were paying an average of $3.06 per gallon, which was 6 cents less than this time last month.

“Michigan drivers are seeing lower prices at the pump this week,” said Adrienne Woodland, spokesperson, AAA-The Auto Club Group in Monday’s report. “If demand stays low, alongside increasing gasoline stocks, motorists could continue to see gas prices decline.”

This price is 6 cents less than this time last month and 59 cents less than this time last year.

Across the state motorists were paying an average of $45 for a full 15-gallon tank of gasoline; a discount of about $12 from 2024’s highest price last July.

According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.09 million barrels of oil per day to 8.71. Total domestic gasoline supply slightly increased from 225.5 million barrels to 225.7. Gasoline production decreased last week, averaging 9.7 million barrels per day.

At the close of Wednesday’s formal trading session, West Texas Intermediate (WTI) fell $1.02 to settle at $58.07 a barrel. The EIA reports that crude oil inventories decreased by 2 million barrels from the previous week. At 438.4 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year.

A weekly comparison of prices showed Metro Detroit’s average daily gas price decreased. Metro Detroit’s current average is $3.09 per gallon, about 8 cents less than last week’s average and 51 cents less than this same time last year.

AAA report on state and metro gas averaged showed:

• Most expensive gas price averages:  Ann Arbor ($3.11), Marquette ($3.10), Metro Detroit ($3.09)• Least expensive gas price averages: Traverse City ($2.94), Jackson ($2.95), Flint ($2.98)

Find local gas prices

According to AAA’s report, daily national, state, and metro gas price averages can be found at Gasprices.aaa.com Motorists can find the lowest gas prices on their smartphone or tablet with the free AAA Mobile app. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.

Tips to save on gas

• Limit driving time by combining errands.• Use the apps and shop around for best gas prices in your community before you venture onto the roads.• Some retailers charge more per gallon when using a credit card, so consider paying cash. .• Remove excess weight in your vehicle.• Keep to the speed limit. Aggressive acceleration and speeding reduces fuel economy.• Find a savings program. AAA Members who enroll in Shell’s Fuel Rewards program can save 5 cents per gallon when they fill up at Shell.

For more information visit acg.aaa.com/.

U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war for more talks on resolving their trade disputes.

Stock markets rose sharply as the globe's two major economic powers took a step back from a clash that has unsettled the global economy.

U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.

Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.

The two officials struck a positive tone as they said the two sides had set up consultations to continue discussing their trade issues. Bessent said at the news briefing after two days of talks that the high tariff levels would have amounted to a complete blockage of each side's goods, an outcome neither side wants.

RELATED STORY | Chinese manufacturers entice Americans to buy directly amid the trade war. But it's not that simple

The consensus from both delegations this weekend is neither side wants a decoupling, Bessent said. And what had occurred with these very high tariff ... was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade."

We want more balanced trade, he said. "And I think that both sides are committed to achieving that."

The delegations, escorted around town and guarded by scores of Swiss police, met for at least a dozen hours on both days of the weekend at a sunbaked 17th-century villa that serves as the official residence of the Swiss ambassador to the United Nations in Geneva.

At times, the delegation leaders broke away from their staffs and settled into sofas on the villas patios overlooking Lake Geneva, helping deepen personal ties in the effort to reach a much-sought deal.

Chinas Commerce Ministry said the two sides agreed to cancel 91% in tariffs on each others goods and suspend another 24% in tariffs for 90 days, bringing the total reduction to 115 percentage points.

RELATED STORY | Trump exempts smartphones, computers from China tariffs

The ministry called the agreement an important step for the resolution of the two countries differences and said it lays the foundation for further cooperation.

This initiative aligns with the expectations of producers and consumers in both countries and serves the interests of both nations as well as the common interests of the world, a ministry statement said.

China hopes the U.S will stop the erroneous practice of unilateral tariff hikes and work with China to safeguard the development of their economic and trade relations, injecting more certainty and stability into the global economy, the ministry said.

The joint statement issued by the two countries said China also agreed to suspend or remove other measures it has taken since April 2 in response to the U.S. tariffs.

China has increased export controls on rare earths including some critical to the defense industry and added more American companies to its export control and unreliable entity lists, restricting their business with and in China.

The full impact on the complicated tariffs and other trade penalties enacted by Washington and Beijing remains unclear. And much depends on whether they will find ways to bridge longstanding differences during the 90-day suspension. Bessent said in an interview with CNBC that U.S. and Chinese officials will meet again in a few weeks.

But investors rejoiced as trade envoys from the worlds two biggest economies blinked, finding ways to pull back from potentially massive disruptions to world trade and their own markets.

Futures for the S&P 500 jumped 2.6% and for the Dow Jones Industrial Average was up 2%. Oil prices surged more than $1.60 a barrel and the U.S. dollar gained against the euro and the Japanese yen.

This is a substantial de-escalation, said Mark Williams, chief Asia economist at Capital Economics. But he warned there is no guarantee that the 90-day truce will give way to a lasting ceasefire.

Jens Eskelund, president of the European Union Chamber of Commerce in China, welcomed the news but expressed caution. The tariffs only were suspended for 90 days and there is great uncertainty over what lies ahead, he said in a statement.

Businesses need predictability to maintain normal operations and make investment decisions. The chamber therefore hopes to see both sides continue to engage in dialogue to resolve differences, and avoid taking measures that will disrupt global trade and result in collateral damage for those caught in the cross-fire," Eskelund said.

Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the two countries boycotting each others products, disrupting trade that last year topped $660 billion.

The announcement by the U.S. and China sent shares surging, with U.S. futures jumping more than 2%. Hong Kongs Hang Seng index surged nearly 3% and benchmarks in Germany and France were both up 0.7%.

The Trump administration has imposed tariffs on countries worldwide, but its fight with China has been the most intense. Trumps import taxes on goods from China include a 20% charge meant to pressure Beijing into doing more to stop the flow of the synthetic opioid fentanyl into the United States.

Here at 7 News Detroit, we want to make sure you start your day off on the right foot, informed about weather, traffic, the latest news and more. That's why we have the 7 Morning Digest, where we'll get you out the door informed and ready to go.

What's the weather for today? Metro Detroit Weather: Summer-like temps with rain on the way

Today will start out with some sunshine before clouds build in during the afternoon. Late tonight into Tuesday brings the next chance for rain, and periods of rain stick around throughout most of the week. The best chance at thunderstorms on Thursday. Temperatures will be seasonably warm all week long, with highs in the upper 70s to low 80s.

Today: Clouds will increase with a chance of rain late into the night before 2am. Highs near 80. Winds: SE 5-10 mph.

Tonight: Rain chances increase with temps near 60. Winds: SE 5-10 mph.

Tuesday: Mostly cloudy with chances for rain, highs near 76. Winds: ESE 5-10 mph.

Any traffic issues?

So far, no major traffic issues this morning. Be sure to check our live traffic map here.

The top stories to know about Family and friends honor London Thomas on what would have been her 18th birthday Family and friends honor London Thomas on what would have been her 18th birthday

Friends and family of London Thomas gathered to honor her life on what would have been her 18th birthday. It comes after her body was found weeks after she went missing.

"I'm joyful just because I know it's her birthday and this is what she would have wanted. Any 18-year-old would have loved this," said her mother, Jasma Bennett.

Bennett had to bury London on the same day she gave birth to her.

"It's a waking nightmare to have your child that you carried for 10 full months to be ripped away from you," said Bennett.

London went missing in early April and was last seen in Inkster. Her body was found weeks later in Southfield. Right now, there's no word on her cause of death.

London's father, Cedric Salisbury, says this is the hardest thing his family has had to face.

"We thank everybody who gave us the time to try to find London, we hate that everything happen the way it happen but today we just need justice," said Salisbury.

Get ready for a longer commute on I-696 due to massive construction project Get ready for a longer commute on I-696 due to massive construction project

You may get re-routed during rush hour this morning, as drivers who rely on I-696 have a much longer commute thanks to a massive construction project. We're down to one lane from I-75 to Cooliudge Highway. 8 Mile is expected to be quite congested, especially for the morning and evening commutes.

On average, MDOT is advising folks to add 20 minutes to their commute times, so plan accordingly.

We spoke to drivers about this construction, including one who found out about it the hard way this weekend.

"It was rough, we had to get to our parents house over the weekend here and it was a rough way to find out that it was closed. We took the wrong way and found out last second," said Royal Oak resident Jon Granroth.

And that was on a weekend! This is the first day drivers are dealing with this for the morning rush hour.

Community rallies to raise $500,000 for high school radio station expansion Community rallies to raise $500,000 for high school radio station expansion

A massive campaign is underway to help a local high school radio program in the Plymouth-Canton area that has been broadcasting to the community for 53 years.

The campaign aims to raise over $500,000 for 88.1 The Park, with the Rotary Club of Plymouth committing a $200,000 grant to transform the station's space.

Inside Salem High School, students are producing award-winning broadcasts but are quickly outgrowing their current facilities.

"These studios are, I mean, they're great studios for what we can do, but it'll be so nice to have more opportunities to do more interviews to host more in-person interviews," said Sydney Capen, a senior at Canton High School.

Capen grew up listening to the station and says she values her time there.

"I do community focus, and I like to bring people into the community," said Capen.

The current space limitations are affecting their ability to accommodate all interested students.

The expansion project will convert a classroom into multiple new spaces with editing, recording, and interview studios, a staff room, and storage. It will also include upgrading dated equipment.

You can find out more informationhere.

By AMANDA SEITZ, SEUNG MIN KIM and WILL WEISSERT, Associated Press

WASHINGTON (AP) — President Donald Trump said he will set a 30-day deadline for drugmakers to lower the cost of prescription drugs in a sweeping executive order that he will sign on Monday.

The order calls on the health department, led by Robert F. Kennedy Jr., to broker new price tags for drugs, according to a White House official who briefed the press on the executive order ahead of its signing.

If a deal is not reached, a new rule will kick in that will tie the price of what the U.S. pays for medications to lower prices paid by other countries.

Trump teased the executive order in a social media post on Sunday evening.

“I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” the Republican president posted, pledging to sign the order on Monday morning at the White House.

The federal government spends hundreds of billions of dollars on prescription drugs, injectables, transfusions and other medications every year through Medicare, which covers nearly 70 million older Americans.

The nation’s leading pharmaceutical lobby on Sunday pushed back, calling it a “bad deal” for American patients. Drugmakers have long argued that any threats to their profits could impact the research they do to develop new drugs.

“Importing foreign prices will cut billions of dollars from Medicare with no guarantee that it helps patients or improves their access to medicines,” Stephen J. Ubl, the president and CEO of PhRMA, said in a statement. “It jeopardizes the hundreds of billions our member companies are planning to invest in America, making us more reliant on China for innovative medicines.”

Trump’s so-called “most favored nation” approach to Medicare drug pricing has been controversial since he first tried to implement it during his first term. He signed a similar executive order in the final weeks of his presidency, which called for the U.S. to only pay a lower price that other countries pay for drugs administered in a doctor’s office.

But even that more narrow executive order faced hurdles, with a court order that blocked the rule from going into effect under President Joe Biden’s administration. The pharmaceutical industry argued that Trump’s 2020 attempt would give foreign governments the “upper hand” in deciding the value of medicines in the U.S.

Trump has played up the announcement, saying it will save taxpayers big money.

“Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before,” Trump added.

He has touted immediate savings, but the health department is limited in its control of drug pricing. It has the most authority around the drug prices it pays for Medicare and Medicaid, which covers roughly 80 million poor and disabled Americans. The price that millions of Americans covered by private insurance pay for drugs is harder for the agency to manipulate.

Trump boasted in his post that the plan will save “TRILLIONS OF DOLLARS.”

The executive order will also encourage the Department of Justice and the Federal Trade Commission to examine enforcement action the agencies can take around the pricing of drugs.

The U.S. routinely outspends other nations on drug prices, compared with other large and wealthy countries, a problem that has long drawn the ire of both major political parties, but a lasting fix has never cleared Congress.

Trump came into his first term accusing pharmaceutical companies of “getting away with murder” and complaining that other countries whose governments set drug prices were taking advantage of Americans.

On Sunday, Trump took aim at the industry again, writing that the “Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE.”

Referring to drug companies’ powerful lobbying efforts, he said that campaign contributions “can do wonders, but not with me, and not with the Republican Party.”

“We are going to do the right thing,” he wrote.

Pontiac’s former building official, Bruce Eck, has sued the city for wrongful discharge. He was fired in March after a dispute with his supervisor. The lawsuit asks for a jury trial and seeks a minimum award of $25,000.

“Due to our policy, we don’t comment on pending litigation,” said Pontiac spokeswoman Paula Bridges.

Eck’s attorneys, Deborah Gordon and Morry Hutton, said Eck was scapegoated by the city in the wake of three abandoned children’s rescue from an unregistered rental home on Lydia Lane in Pontiac’s Stonegate Pointe neighborhood.

“It’s unfortunate that the city of Pontiac has now lost an invaluable public servant and extremely experienced building officials with excellent credentials,” Gordon said. “He was fired because he refused to go along with what he believed to be an illegal directive.”

City records show an April 2020 blight ticket for Lydia Lane and an unregistered rental complaint. Inspectors visited the home four times in 2020 without resolving the rental complaint. Inspectors returned in February 2022 and April 2022. The owner had not registered the rental. No progress check was scheduled or made, which could have saved the children earlier, Eck told The Oakland Press in March.

The children were rescued in February after a maintenance worker went to see if the occupants had moved after not paying rent for several months. The children’s mother is in Oakland County Jail, facing multiple charges.

Eck was hired in November 2023 and had been archiving old and expired records in the city database that tracks taxes, assessments, code enforcement visits and tickets as well as construction permits. He and his deputy, Dennis Szymanski, deleted 7,000 long-expired permits from the city’s database.

Eck wanted to create reports on active issues so they could be tracked and addressed.

But his boss, Community Development Director Rachel Loughrin, told him to reactivate the old permits and require inspections. Eck asked a city attorney for a legal opinion on the order.

On March 3, Loughrin claimed in a disciplinary action form that Eck pursued personal legal advice from the city attorney. Eck said he made the request in his official capacity. He refused to sign the document and was fired.

Eck, a certified building official, building plan reviewer, and building inspector, worked as West Bloomfield Township’s building director for 19 years and Dearborn’s safety official for a decade. He is a board member for the Southeast Michigan Building Officials and Inspectors Association, which sets professional standards for and trains building officials and code inspectors. He told The Oakland Press he has never been fired or disciplined in his career.

Gordon and Hutton said they don’t believe Loughrin knew the proper way to address the invalid permits.

Defendants in the lawsuit include the city and Loughrin, in her personal and official capacities. They have 28 days to respond to the lawsuit, which was assigned to Sixth Circuit Court Judge Nanci Grant.

By WILL WEISSERT and AMANDA SEITZ, Associated Press

WASHINGTON (AP) — President Donald Trump says he’ll sign an executive order on Monday that, if implemented, could bring down the costs of some medications — reviving a failed effort from his first term on an issue he’s talked up since even before becoming president.

The order Trump is promising will direct the Department of Health and Human Services to tie what Medicare pays for medications administered in a doctor’s office to the lowest price paid by other countries.

“I will be instituting a MOST FAVORED NATION’S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,” the president posted Sunday on his social media site, pledging to sign the order on Monday morning at the White House.

“Our Country will finally be treated fairly, and our citizens Healthcare Costs will be reduced by numbers never even thought of before,” Trump added.

His proposal would likely only impact certain drugs covered by Medicare and given in an office — think infusions that treat cancer, and other injectables. But it could potentially bring significant savings to the government, although the “TRILLIONS OF DOLLARS” Trump boasted about in his post may be an exaggeration.

Medicare provides health insurance for roughly 70 million older Americans. Complaints about U.S. drug prices being notoriously high, even when compared with other large and wealthy countries, have long drawn the ire of both parties, but a lasting fix has never cleared Congress.

Under the planned order, the federal government would tie what it pays pharmaceutical companies for those drugs to the price paid by a group of other, economically advanced countries — the so-called “most favored nation” approach.

The proposal will face fierce opposition from the pharmaceutical industry.

It was a rule that Trump tried to adopt during his first term, but could never get through. He signed a similar executive order in the final weeks of his presidency, but a court order later blocked the rule from going into effect under the Biden administration.

The pharmaceutical industry argued that Trump’s 2020 attempt would give foreign governments the “upper hand” in deciding the value of medicines in the U.S.. The industry has long argued that forcing lower prices will hurt profits, and ultimately affect innovation and its efforts to develop new medicines.

Only drugs on Medicare Part B — the insurance for doctor’s office visits — are likely to be covered under the plan. Medicare beneficiaries are responsible for picking up some of the costs to get those medications during doctor’s visits, and for traditional Medicare enrollees there is no annual out-of-pocket cap on what they pay.

A report by the Trump administration during its first term found that the U.S. spends twice as much as some other countries in covering those drugs. Medicare Part B drug spending topped $33 billion in 2021.

More common prescription drugs filled at a pharmacy would probably not be covered by the new order.

Trump’s post formally previewing the action came after he teased a “very big announcement” last week. He gave no details, except to note that it wasn’t related to trade or the tariffs he has announced imposing on much of the world.

“We’re going to have a very, very big announcement to make — like as big as it gets,” Trump said last week.

He came into his first term accusing pharmaceutical companies of “getting away with murder” and complaining that other countries whose governments set drug prices were taking advantage of Americans.

On Sunday, Trump took aim at the industry again, writing that the “Pharmaceutical/Drug Companies would say, for years, that it was Research and Development Costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE.”

Referring to drug companies’ powerful lobbying efforts, he said that campaign contributions “can do wonders, but not with me, and not with the Republican Party.”

“We are going to do the right thing,” he wrote.

By JAMEY KEATEN, DAVID McHUGH, ELAINE KURTENBACH and KEN MORITSUGU, Associated Press

GENEVA (AP) — U.S. and Chinese officials said Monday they had reached a deal to roll back most of their recent tariffs and call a 90-day truce in their trade war to allow for more talks on resolving their trade disputes.

Stock markets rose sharply as the globe’s two major economic powers took a step back from a clash that has unsettled the global economy. Economists warned that tariffs still remained higher than before and that the outcome of future talks was uncertain.

U.S. Trade Representative Jamieson Greer said the U.S. agreed to drop its 145% tariff rate on Chinese goods by 115 percentage points to 30%, while China agreed to lower its rate on U.S. goods by the same amount to 10%.

A deal averts a total blockade

Greer and Treasury Secretary Scott Bessent announced the tariff reductions at a news conference in Geneva.

The two officials struck a positive tone as they said the two sides had set up consultations to continue discussing their trade issues. Bessent said at the news briefing following two days of talks that the high tariff levels would have amounted to a complete blockage of each side’s goods — an outcome neither side wants.

“The consensus from both delegations this weekend is neither side wants a decoupling,” Bessent said. “And what had occurred with these very high tariff … was an embargo, the equivalent of an embargo. And neither side wants that. We do want trade.”

“We want more balanced trade,” he said. “And I think that both sides are committed to achieving that.”

The delegations, escorted around town and guarded by scores of Swiss police, met for at least a dozen hours on both days of the weekend at a sunbaked 17th-century villa that serves as the official residence of the Swiss ambassador to the United Nations in Geneva.

At times, the delegation leaders broke away from their staffs and settled into sofas on the villa’s patios overlooking Lake Geneva, helping deepen personal ties in the effort to reach a much-sought deal.

Finally, a deal

China’s Commerce Ministry said the two sides agreed to cancel 91% in tariffs on each other’s goods and suspend another 24% in tariffs for 90 days, bringing the total reduction to 115 percentage points.

The ministry called the agreement an important step for the resolution of the two countries’ differences and said it lays the foundation for further cooperation.

“This initiative aligns with the expectations of producers and consumers in both countries and serves the interests of both nations as well as the common interests of the world,” a ministry statement said.

China hopes the United States will stop “the erroneous practice of unilateral tariff hikes” and work with China to safeguard the development of their economic and trade relations, injecting more certainty and stability into the global economy, the ministry said.

The joint statement issued by the two countries said China also agreed to suspend or remove other measures it has taken since April 2 in response to the U.S. tariffs.

China has increased export controls on rare earths, including some critical to the defense industry, and added more American companies to its export control and unreliable entity lists, restricting their business with and in China.

Markets rally as two sides de-escalate

The full impact on the complicated tariffs and other trade penalties enacted by Washington and Beijing remains unclear. And much depends on whether they will find ways to bridge longstanding differences during the 90-day suspension.

Bessent said in an interview with CNBC that U.S. and Chinese officials will meet again in a few weeks.

But investors rejoiced as trade envoys from the world’s two biggest economies blinked, finding ways to pull back from potentially massive disruptions to world trade and their own markets.

Futures for the S&P 500 jumped 2.6% and the Dow Jones Industrial Average was up 2%. Oil prices surged more than $1.60 a barrel and the dollar gained against the euro and the Japanese yen.

“This is a substantial de-escalation,” said Mark Williams, chief Asia economist at Capital Economics. But he warned “there is no guarantee that the 90-day truce will give way to a lasting ceasefire.”

Dani Rodrik, an economist at Harvard University, said that the two countries had stepped back “from a needless trade war’’ but that U.S. tariffs on China remain high at 30% “and will mainly hurt U.S. consumers.’’

U.S. President Donald Trump “has obtained absolutely nothing from China for all the chaos he generated. Zilch,’’ Rodrik wrote, posting on Bluesky.

Trump last month raised U.S. tariffs on China to a combined 145%, and China retaliated by hitting American imports with a 125% levy. Tariffs that high essentially amount to the two countries boycotting each other’s products, disrupting trade that last year topped $660 billion.

The announcement by the U.S. and China sent shares surging, with U.S. futures jumping more than 2%. Hong Kong’s Hang Seng index surged nearly 3% and benchmarks in Germany and France were both up 0.7%

The Trump administration has imposed tariffs on countries worldwide, but its fight with China has been the most intense. Trump’s import taxes on goods from China include a 20% charge imposed because Trump says Beijing has not done enough to stop trafficking in the precursor chemicals used to make the synthetic opioid fentanyl.

“The drop from sky-high to merely high tariffs, along with the uncertainty about the path of future tariffs, will still serve as a constraint on trade and investment flows between the two economies,” said Eswar Prasad, professor of trade policy at Cornell University.

“Nevertheless, it is a positive omen for the world economy that U.S. tariffs might eventually end up as significant trade barriers but not unsurmountable walls that block off international trade altogether,’’ he said.

McHugh contributed from Frankfurt, Germany; Kurtenbach from Mito, Japan; and Moritsugu from Beijing. Associated Press writer Paul Wiseman in Washington contributed to this report.