Trump Heads to Beijing, Inflation Surges, and Hantavirus Raises Questions

President Trump is en route to Beijing for a state visit with China's President Xi Jinping, and the White House is keeping expectations deliberately modest. One analyst described the summit as likely to look polite on the surface but play out as "a rugby match underneath." Trade is the headline item, but the war with Iran is also expected to come up. Meanwhile, a new inflation report out this morning shows consumer prices surged 3.8 percent in April from a year ago — the highest annual reading in about three years — driven largely by the blockade of the Strait of Hormuz and its effect on energy prices. And public health officials are working to contain a hantavirus outbreak that began on a cruise ship, stressing that while the virus is serious, it is not the next COVID.

The Beijing Visit: Polished Surface, Hard Bargaining

Trump has publicly praised his relationship with Xi, but the substance of the trip remains unsettled. The White House says Trump intends to deliver "more good deals" to rebalance trade with China, and the two sides are expected to discuss the idea of a U.S.-China Board of Trade — a sign of cooling in what had been an escalating trade war during Trump's first year back in office.