Trump and Xi to Meet in China: What’s at Stake

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 12 May 2026

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for May 12. President Trump left today for his summit with Chinese leader Xi Jinping. WSJ Washington bureau chief Damian Paletta lays out the stakes, with the two leaders expected to tackle trade, Iran and Taiwan. Plus, inflation hit its highest level in three years last month, outpacing wage growth. Journal economics reporter Chao Deng explains how the war in the Middle East is driving up prices. And there’s a fire sale on MBAs, with a number of business schools offering deep discounts on their tuition. We hear from reporter Ray Smith about why it has everything to do with AI. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How are the U.S. businesses of Philip Morris International invested in America?
0:05.0	We're invested in advancing science, giving adults who smoke better options.
0:10.0	We're invested in American manufacturing, helping local economies thrive.
0:15.0	We're invested in community, supporting military veterans and their families,
0:19.0	disaster relief, and economic empowerment.
0:22.5	Because we're proud to be invested in America.
0:25.9	See how at uspMI.com.
0:33.6	Inflation rises to its highest level in three years.
0:42.3	Plus, President Trump heads to Beijing for a summit with Chinese leader Xi Jinping. We'll get into what's on the table and what's at stake.
0:45.3	If he has a good meeting and he comes away with some tangible things from Beijing,
0:48.3	he could sell that to the American people that his brand of 2026 diplomacy is still
0:54.4	effective. And criminal charges
0:56.4	against the operator of the ship that crashed
0:58.4	into Baltimore's key bridge and killed
1:00.3	six people. It's Tuesday,
1:02.4	May 12th. I'm Alex
1:04.0	Osloaf for the Wall Street Journal.
1:05.8	This is the PM edition of What's News,
1:08.3	the top headlines and business stories
1:10.2	that move the world today.
1:16.5	We start the show today on a topic that's on top of mind for a lot of people, how much things cost.
1:22.9	And it turns out they're costing more. New data from the Labor Department out today showed that inflation rose 3.8% in April from a year earlier. It's the biggest jump in three years and clearly shows the effect of the Iran war on energy costs.
	...

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