Trump En Route to Beijing For Highly-Anticipated Summit | Balance of Power 05/12/2026
Speakers
Josh Lipsky
— Vice President & Chair of International Economics at the Atlantic Council
Romaine Bostick
— Anchor, Bloomberg
Summary
The episode covers President Trump's trip to Beijing for a summit with Xi Jinping while the Iran conflict and Strait of Hormuz closure continue. Inflation data shows rising gas prices, and the administration floats a federal gas tax holiday. Josh Lipsky warns of a possible second energy shock from prolonged Strait closure.
- Trump en route to Beijing for summit with Xi Jinping amid Iran conflict.
- Strait of Hormuz remains closed, pressuring oil prices.
- April CPI shows rising inflation, driven by gas and grocery costs.
- White House considers a federal gas tax holiday.
- Anthropic reportedly in talks to raise $30 billion at $900 billion valuation.
- Josh Lipsky predicts a second energy shock if Strait closure persists.
- Discussion of potential deliverables: Boeing aircraft, agriculture purchases.
- Political implications of high gas prices for Republicans in midterms.
Trade Ideas
Second energy shock likely from Strait closure
Josh Lipsky argues that the Strait of Hormuz is likely to remain closed for longer than markets expect, leading to a second energy shock that would push oil prices higher, despite the president's optimistic comments. He believes the market is underestimating the persistence of the blockade and the lack of resolution from the Trump-Xi summit.
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This Bloomberg Markets video, published May 13, 2026, features Josh Lipsky discussing WTI. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Josh Lipsky · Tickers: WTI