Bloomberg Podcasts · Trump Faces Emboldened Xi in China | Balance of Power: Early Edition 5/12/2026

1. 1. President Trump is flying to Beijing to meet Xi Jinping amidst the ongoing Iran conflict.
2. 2. Higher energy costs from the Iran war led to April's 3.8% CPI jump.
3. 3. China views the U.S. as weakened, leading to low expectations for summit deliverables.
4. 4. Congressman Stanton blames President Trump's "war of choice" for skyrocketing gas prices.
5. 5. U.S. tariff policies have alienated allies, complicating collective pressure on China.