Bloomberg Podcasts · Trump Lands in China for Xi Summit | Balance of Power: Early Edition 5/13/2026

1. 1. President Trump arrived in Beijing with an entourage of American business titans for summit meetings.
2. 2. The S&P 500 index hit a record high despite hotter-than-expected inflation data.
3. 3. The United States is in a weak position to win the ongoing trade war with China.
4. 4. New Fed Chair Kevin Warsh faces a challenging environment with high inflation and presidential pressure.
5. 5. A proposed gas tax holiday is a "terrible idea" that would not help consumers.