Bob Herman May 23
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Trump's budget doesn't touch drug pricing

Matt Rourke / AP

Even though President Trump has said pharmaceutical companies are "getting away with murder," his first budget for the Department of Health and Human Services does nothing to change how prescription drugs are priced.

The budget is usually just a political wish list, which makes it surprising that Trump didn't include ideas he mentioned on the campaign trail, like allowing Medicare to negotiate drug prices. There's also no mention of mandating Medicaid-type rebates for low-income people on Medicare.

What they're saying: "The lack of any mention in the budget makes us question whether this is truly an issue of importance to the administration." — Spencer Perlman, managing partner at Veda Partners

Ina Fried 1 hour ago
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Craigslist pulls personal ads after passage of sex-trafficking bill

Online classified site Craigslist has pulled its entire personal ad section after Congress passed a new sex-trafficking bill that puts more liability on Web sites.

Why it matters: Smaller tech companies and advocates for sex workers had feared a chilling effect if the bill becomes law.

Khorri Atkinson 3 hours ago
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China slaps reciprocal tariffs on U.S. imports

China's President Xi Jinping speaks next to President Trump. Photo: Nicolas Asfouri// AFP / Getty Images

China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.

The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.