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“(News Items) is simply the best news digest out there.” — Joe Klein.

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We’ll be posting (and sending to tour in-box) the most recent ‘Night Owls’ podcast at noon (ET) today. It’s an interview with Daniela Rus, Director of the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT. It’s a terrific podcast, entirely because Ms. Rus is a terrific guest.

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1. The U.S. and China said Monday they agreed to suspend most tariffs on each other's goods pending further negotiations, after weekend talks in Geneva. President Trump's "reciprocal" tariff on China will fall to 10% from 125%. A separate 20% tariff the president imposed over what he described as China's role in the fentanyl trade will remain. Beijing will cut its retaliatory levies on U.S. goods to 10% from 125%. The U.S. said the reductions would last for 90 days while the two sides begin further talks. These will be led by Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer on the U.S. side and by Vice Premier He Lifeng for China. U.S. stock futures, which were higher ahead of the announcement, surged. Contracts tied to the tech-heavy Nasdaq-100 rose over 3%. The dollar jumped and bond yields rose. (Source: wsj.com)

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2. On a sunny spring morning, when the Port of Los Angeles should be a blur of activity, more than half of the container ship berths there sit empty. The number of shipping containers that arrived at the nation’s top container port last week was roughly one-third lower than during the same period last year — a sharper decline than during the depths of the Great Recession. More than one-fifth of the giant ships that were scheduled to call in Los Angeles this month have already canceled, and that number is expected to rise. Trump’s 145 percent tariffs on Chinese goods — and Beijing’s triple-digit retaliation — are bringing a swift halt to the trans-Pacific flow of electronics, clothing, furniture, industrial parts and everything else that the world’s two largest economies exchange. “I’m not sure there’s going to be enough on the shelves for people to buy in another 60 or 90 days,” said Joseph Gregorio Jr., chief operating officer of the Pacific Companies, a provider of trucking, storage and cargo-handling services. (Source: washingtonpost.com)

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