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

Summary

This Bloomberg Balance of Power episode covers President Trump's arrival in Beijing for a summit with Xi Jinping, accompanied by a delegation of American CEOs including Jensen Huang. The discussion focuses on trade negotiations, inflation data (PPI and CPI), the confirmation of Kevin Warsh as Fed Chair, and midterm election dynamics with affordability as a key issue.

• President Trump arrives in China with a group of business leaders for high-stakes trade talks.
• U.S. inflation data shows PPI rising 6% year-over-year, intensifying pressure on the Federal Reserve.
• Kevin Warsh is expected to be confirmed as Fed Chair amid challenging economic conditions.
• Chad Bown argues the U.S. has a weak hand in negotiations due to China's market dominance in rare earths.
• House Democratic campaign chair Suzan DelBene emphasizes affordability as the party's central midterm message.
• Douglas Holtz-Eakin warns that the U.S. fiscal path is unsustainable and that a gas tax holiday would be ineffective.
• Markets react positively with S&P 500 at a record, while bonds sell off on inflation concerns.