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Investors celebrate U.S.-China trade breakthrough

By Home - CBSNews.com May 12, 2025 | 7:12 PM

The U.S. and China have agreed on a temporary but significant easing of tariffs as trade talks progress. CBS News MoneyWatch correspondent Kelly O’Grady explains how the markets reacted.

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BREAKING THE BUDGET IMPASSE

What should be done to break the impasse in approving Pennsylvania’s budget?

Increase income taxes to pay for more spending.
Draw down the state's rainy day funds to pay for more spending.
Tax the so-called "skill games" machines to pay for more spending.
Legalize recreational marijuana to pay for more spending.
We don't need more spending, we need less! No new taxes!
We do need to increase spending on some programs, but there's plenty of wasteful spending we should cut. No new taxes!
Voting Ends: Oct 7, 2025 | 12:00 PM