President Trump’s state visit to Beijing centers on stabilizing U.S.-China relations amidst an escalating trade war and the ongoing conflict in Iran. While the summit features high-level pageantry, substantive outcomes remain uncertain as both nations engage in a tactical struggle for economic advantage. Simultaneously, rising inflation driven by the blockade of the Strait of Hormuz is impacting American consumers, with gasoline prices surging $1.50 per gallon and airline costs climbing. Despite these pressures, the Federal Reserve faces limited options to address supply-side energy shocks while maintaining current interest rates. Meanwhile, public health officials are managing a hantavirus outbreak on a cruise ship, emphasizing that the virus’s low transmissibility and distinct biological behavior differentiate it from COVID-19, despite the current lack of a vaccine or specific treatment for the disease.
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