The 47 Morning Update with Ben Ferguson

Episode: Breakthrough in U.S.-China Trade plus Trump’s Executive Order to Slash Drug Prices
Release Date: May 12, 2025

Ben Ferguson, a prominent national radio host and political commentator, delivers a comprehensive update on the latest developments shaping America’s economic and political landscape in this episode of The 47 Morning Update. The episode, released on May 12, 2025, delves into three significant stories: a breakthrough in U.S.-China trade negotiations, President Trump’s executive order aimed at reducing prescription drug prices, and alarming revelations about the Federal Aviation Administration’s (FAA) outdated equipment.

1. Major Breakthrough in U.S.-China Trade Negotiations

[00:03:01 - 00:07:38]

Contrary to the pessimistic forecasts previously circulated by the media, a substantial breakthrough in trade negotiations between the United States and China has been announced. After two days of constructive talks in Geneva, U.S. Treasury Secretary Scott Bessant and Trade Representative Jameson Greer reported significant progress with Chinese Vice Premier Liu He and other high-ranking officials.

• Scott Bessant emphasized the productivity of the talks, stating, "I think that led to a great deal of the productivity we've seen. We will be giving details tomorrow." [00:03:51]

• Jameson Greer highlighted the efficiency and cooperation during the negotiations, remarking, "It's important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought." [00:05:38]

President Trump characterized the negotiations as a move towards a "total reset" of U.S.-China trade relations, aiming to open Chinese markets to American businesses. The agreement has already positively influenced financial markets, with stock futures rising and the U.S. dollar strengthening. This development is particularly beneficial for American farmers, retailers, and consumers previously affected by tariff escalations. A joint statement outlining specific measures to ease trade tensions and foster economic cooperation is expected to be released later in the day.

Ben Ferguson commends President Trump’s negotiation prowess, asserting, "Donald Trump really is the best negotiator in the world. And this will make the media and liberals lose their mind because they don't really care about Americans. They care about Donald Trump being a failure at all costs. And yet again, he proved them wrong." [00:07:38]

2. President Trump’s Executive Order to Slash Drug Prices

[00:07:40 - 00:11:18]

In a landmark decision, President Trump announced an executive order intended to drastically reduce the cost of prescription drugs and pharmaceuticals for American citizens. Described as "one of the most consequential executive orders in our country's history," the initiative aims to lower drug prices by 30 to 80% almost immediately.

• Trump criticized the pharmaceutical industry and the Democratic Party for high drug prices, stating, "The pharmaceutical slash 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, bore by the suckers of America alone." [00:08:45]

• He further elaborated on the policy, declaring, "We are going to do the right thing, something that the Democrats have fought for many years saying. I'm pleased to announce that tomorrow morning, Monday morning in the White House at 9am I'll be signing one of the most consequential executive orders in our country's history." [00:10:00]

The executive order introduces a "most favored nations" policy, ensuring that the United States pays the same price for drugs as the lowest-priced nation worldwide. This policy is expected to level the playing field, making American healthcare costs more affordable. Additionally, the order provides significant discounts to low-income patients for essential medications like insulin and facilitates programs that could save states millions in prescription drug expenses.

A White House fact sheet released in April outlined the directives for the Department of Health and Human Services (HHS) to implement measures reducing drug prices for patients. Ben Ferguson underscores the significance of this move, highlighting its potential to alleviate financial burdens on Americans, especially seniors.

3. Alarming State of the FAA’s Equipment and Infrastructure

[00:11:20 - 00:14:13]

The third story addresses a critical issue within the Federal Aviation Administration (FAA). Recent reports have revealed that the FAA’s equipment is so outdated that replacement parts are being sourced from platforms like eBay, posing significant safety risks.

Transportation Secretary Sean Duffy provided insights during an interview with CBS This Morning:

• Sean Duffy explained, "This system that we use, many, much of the equipment you have to buy on eBay, no one makes it anymore. That's how old the system is that we fly on today." [00:13:12]

• He further detailed the challenges, stating, "Our main mission is safety. And so if there's any concern with safety, we slow down traffic and there might be delays, there might be cancellations. And we take those precautions to make sure that you get from your departure city to your, to your arrival city." [00:12:06]

The FAA acknowledges that the existing infrastructure is severely outdated, leading to increased stress among air traffic controllers and operational inefficiencies. Efforts are underway to train new controllers and build a new fiber-driven system to service major airports like Newark. Secretary Duffy emphasized the urgency of overhauling the entire air traffic control system to ensure reliability and safety, aiming for full functionality by the summer.

Ben Ferguson applauds the Trump administration's commitment to addressing this long-neglected issue, stating, "Gail, thank goodness the Trump administration is willing to take on a problem that every other administration just wanted to kick the can down the road and we'll finally be able to know that we have a system that's reliable and safe and parts are no longer being bought on eBay." [00:14:13]

Conclusion

In this episode, Ben Ferguson highlights significant advancements and initiatives under the Trump administration aimed at bolstering America’s economic standing and improving citizens' quality of life. From a promising resolution in U.S.-China trade relations to groundbreaking measures to make healthcare more affordable, and finally addressing critical infrastructural deficiencies in national aviation safety, the episode underscores a proactive approach to governance and policy-making.

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