finance
Trump Meets Xi in Beijing; U.S. Sells 30-Year Bonds at 5% Yield
President Donald Trump met Chinese President Xi Jinping in Beijing on May 14, 2026, praising Xi as a "great leader" while the two discussed trade, the Iran war and Taiwan. The U.S. Treasury sold 30-year bonds at a 5% yield for the first time since 2007. The summit occurs amid rising producer prices linked to the Iran conflict and new U.S. policy actions on Medicare and health program funding.
May 13, 5:00 PM·2m read102 sources
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President Donald Trump and Chinese President Xi Jinping shook hands before high-stakes talks in Beijing's Great Hall of the People on May 14. " The meeting focused on trade, the ongoing war in Iran and tensions over Taiwan. Trump told Xi, "We've had a fantastic relationship.
" The summit takes place as the U.S. government sold 30-year bonds at a 5% yield for the first time since 2007. Bitcoin held steady below $81,000 ahead of the Trump-Xi talks. The Iran war is also driving increased adoption of Chinese electric vehicles, solar panels and batteries.
The Trump administration froze Medicare enrollments for new home health care and hospice providers. JD Vance threatened to cut federal funding for government health insurance programs in states that do not comply with the White House anti-fraud effort.
States failing to "get serious" about fraud would lose Medicaid funding. The Senate confirmed Kevin Warsh as Federal Reserve chair in a 54-45 vote, the closest in history for a Fed chair nominee. Warsh has promised to remake the central bank. Trump allies have warned on the pace of rate cuts.
Separately, the administration is pressing China to play a more active role in convincing Iran to de-escalate actions in the Gulf.
New data showed prices businesses are paying for goods have risen sharply, suggesting economic fallout from the Iran war is spreading. Producer prices climbed as the conflict disrupted global energy and supply chains. China relies on the Strait of Hormuz for roughly half its crude oil imports.
Beijing remains Iran's largest trading partner under a 25-year cooperation agreement signed in 2021. The Trump administration seeks Beijing's help to end the Gulf conflict.
