NPR News: 07-11-2025 10AM EDT

Summary

NPR News Now: July 11, 2025, 10 AM EDT

1. Prospects for U.S.-China Summit Meeting

Timestamp: [00:16]

Jeanine Herbst opens the episode by highlighting Secretary of State Marco Rubio's optimistic outlook on a potential summit between President Donald Trump and China's President Xi Jinping. In his first trip to Asia as secretary, Rubio stated, "Both the US and Chinese sides want a meeting between Trump and Xi, so the odds are high" (00:16). He emphasized the necessity for both nations to "create the right atmosphere for the meeting and agree on deliverables" (00:16), although no specific date has been set yet.

Anthony Kuhn reports further, detailing Rubio's constructive engagement with Chinese Foreign Minister Wang Yi during the ASEAN Foreign Ministers meeting in Kuala Lumpur, Malaysia. Wang Yi criticized U.S. tariffs as "typical unilateral bullying behavior," asserting that they "are undermining free trade and global supply chains" (00:33). This exchange underscores the tense trade relations and the challenges ahead for the proposed summit.

2. President Trump's Visit to Flood-Affected Texas and FEMA Discussion

Timestamp: [01:13]

President Trump traveled to Central Texas to assess the aftermath of devastating flash floods that resulted in at least 120 fatalities and over 170 missing persons. In light of the disaster, Trump expressed his intent to "phase out FEMA," a stance that the White House began retracting following the catastrophe (01:13).

Diane Criswell, former FEMA administrator under the Biden administration, emphasized the critical role of FEMA in disaster response. She stated, "Texas is probably the most capable state that's out there, lots of resources, but they also requested resources through the state to state mutual aid compact. But those types of resources also get reimbursed by FEMA" (01:39). Criswell further explained that without FEMA, states, especially those with fewer resources, would struggle significantly in their response efforts.

Jeanine Herbst adds that while Texas demonstrated substantial self-sufficiency, the complexity lies in the recovery phase. She pointed out the need to "streamline the process so communities can rebuild faster" (02:00).

3. U.S. Trade Policies Impacting Financial Markets

Timestamp: [02:00]

The announcement of renewed trade tensions between the U.S. and Canada had immediate repercussions on the stock market. Scott Horsley reports that the Dow plunged over 200 points during morning trading (02:00).

In a contentious move, President Trump issued a letter via social media threatening to impose a 35% tariff on Canadian imports starting August 1 (02:22). While Trump suggested that these tariffs could be mitigated if Canada took meaningful steps to curb fentanyl trafficking—a point Horsley notes is largely symbolic since "very little fentanyl comes into the US from the north" (02:22).

A White House official clarified that goods covered under the existing free trade agreement between the U.S., Canada, and Mexico might be exempt from the new tariffs, though the official remained vague, stating that Trump "has not yet made a final decision" (02:22). This escalation is part of a broader pattern, with Trump threatening higher tariffs on imports from Japan, South Korea, and Brazil, pushing the average import tax to its highest level since the Great Depression.

4. Legal Action Against the Trump Administration

Timestamp: [03:03]

In a significant legal development, Magu Khalil, a Palestinian activist recently released from immigration detention in Louisiana, has filed a $20 million lawsuit against the Trump administration. Khalil alleges that he was "falsely imprisoned and maliciously prosecuted" in an effort to deport him due to his involvement in campus protests. His lawsuit accompanies an ongoing deportation case against him, a 30-year-old Columbia University graduate student. Khalil remains defiant, asserting his commitment to free expression: "My goal is to send the message that I won't be intimidated into silence."

5. Establishment of New Savings Accounts for Minors

Timestamp: [03:03]

The administration's massive tax cut and spending bill introduces a novel savings vehicle for minors. Bill Chappell reports that under the new policy, families can establish accounts for newborns, with Trump initially pledging "$1,000 to work for newborns through the end of 2028" (03:58). These funds are invested in U.S. market index-tracking funds, and families have the option to contribute additional amounts. Although contributions are not tax-deductible, the earnings grow tax-deferred, and minors can access the funds upon reaching 18 years of age.

Ashley Dixon, co-founder of NextBloom Wealth, explains that these accounts provide "families one more choice" (03:58). Bill Chappell adds, "It's not about having to contribute to one or the other. It's taking the amount that you can afford and maximizing based on what we know today," highlighting the flexibility for families to modify their financial strategies over time (04:20). However, Dixon advises that alternatives like 529 education accounts might be more beneficial for most families, offering tailored advantages for educational expenses (04:32).

6. Crude Oil Prices Surge

Timestamp: [04:40]

In the energy sector, crude oil prices experienced a significant uptick. Jeanine Herbst reports that prices are "sharply higher at this hour, up 1.7% at $67.69 a barrel" (04:40). This rise may be influenced by ongoing geopolitical tensions and fluctuations in global supply and demand dynamics.

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This summary is based on the NPR News Now episode released on July 11, 2025, and encapsulates the key discussions and insights shared by NPR reporters and contributors.

Transcript

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[Jeanine Herbst]

In Washington, I'm Jeanine Herbst. Secretary of State Marco Rubio says there's a high probability of a summit meeting between President Trump and China's leader Xi Jinping. NPR's Anthony Kuhn reports. Rubio is on his first trip to Asia since becoming secretary.

[Anthony Kuhn]

Rubio told reporters that both the US And Chinese sides want a meeting between Trump and Xi, so the odds are high. He added, though, that the two sides have to create the right atmosphere for the meeting and agree on deliverables. He said no date has been discussed so far. Rubio also said he had a constructive meeting with Chinese Foreign Minister Wang Yi on the sidelines of the association of Southeast Asian Nations Foreign Ministers meeting in Kuala Lumpur, Malaysia. In remarks with Southeast Asian counterparts, Wang complained that US Tariffs are typical unilateral bullying behavior, which he said are undermining free trade and global supply chains. Anthony Kuhn, NPR News, Beijing.

[Jeanine Herbst]

President Trump heads to Central Texas today to view the damage from the catastrophic flash floods last week that left at least 120 people dead, more than 170 others missing. Meanwhile, Trump has said he wants to phase out fema, but the White House is now walking that back after these floods. And former Biden administration FEMA administrator Diane Criswell says states need FEMA in addition to their own resources.

[Diane Criswell]

Texas is probably the most capable state that's out there, lots of resources, but they also requested resources through the state to state mutual aid compact. But those types of resources also get reimbursed by fema. If this were to happen in another state that doesn't have that much capability, it would just make it that much harder for response.

[Jeanine Herbst]

Speaking there to NPR's MORNING EDITION. But she says it's the recovery period that's so complicated and the focus now needs to be on how to help the states streamline the process so communities can rebuild faster. Stocks opened lower this morning as President Trump renews his trade fight with Canada. NPR, Scott Horsley reports. The Dow tumbled more than 200 points in early trading.

[Scott Horsley]

In a letter posted on social media, President Trump threatens to impose a 35% tax on imports from Canada beginning Aug. 1. Trump says that tariff could could be reduced if Canada takes steps to address fentanyl trafficking, although very little fentanyl comes into the US from the north. A White House official says goods covered under a free trade agreement between the U.S. canada and Mexico would likely be exempted from the new tariffs. But the official cautioned Trump has not yet made a final decision. This week, the president has threatened higher tariffs on imports from many countries, including Japan, South Korea and Brazil. Economists say the average tax on imports is now the highest it's been since the Great Depression. Scott Horsley, NPR News, Washington.

[Jeanine Herbst]

On Wall street, the dow is down 276 points, the NASDAQ down 43, the S&P 500 down 27. You're listening to NPR News. Magu Khalil, recently freed from immigration detention in Louisiana, has filed a $20 million lawsuit against the Trump administration alleging he was falsely imprisoned and maliciously prosecuted and as the government sought to deport him for his role in campus protests. The outspoken Palestinian activist lawsuit comes as the government's deportation case against a 30 year old recent Columbia University graduate student continues. He says his goal is to send the message that he won't be intimidated into silence. The massive tax cut and spending bill signed into law by President Trump has established a new type of saving account for minors. NPR's Bill Chappell has more.

[Ashley Dixon]

Trump accounts will put $1,000 to work for newborns through the end of 2028, investing in funds that track U.S. market indexes. Families can also contribute. That money isn't deductible, but taxes are deferred. Kids can use the money when they turn 18. Ashley Dixon is the co founder of Nextbloom wealth near Kansas City, Missouri. She says the accounts offer families one more choice.

[Bill Chappell]

It's not a I have to contribute to one or the other. It's taking the amount that you can afford. And maximiz based on what the knowns are today. With the flexibility of changing financial advisors.

[Ashley Dixon]

Say other tools like a 529 education account might be better options for most people. Bill Chappell, NPR News.

[Jeanine Herbst]

Crude oil prices sharply higher at this hour, up 1.7% at $67.69 a barrel. I'm Jeanine Herbst and you're listening to NPR News from Washington.

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[Scott Horsley]

Com.