Amy Morris

President Trump is voicing support for a gas tax holiday to counter the price of the pump, telling CBS News in a phone interview he would like to pause the federal 18.4 cents a gallon tax on gasoline for a period.

although it's not clear how much of that cut would reach consumers.

Bloomberg Intelligence Senior U.S.

Policy Analyst Nathan Dean.

Bloomberg Intelligence Senior U.S.

Policy Analyst Nathan Dean on balance of power.

Now, suspending the tax could be devastating for the Highway Trust Fund, which pays for the construction and repair of interstate highways, roads and bridges.

The White House says deals spanning aerospace, energy and agriculture industries are expected to come out of the president's meeting with Chinese leader Xi Jinping.

And President Trump says he'll also discuss whether the U.S.

should continue arms sales to Taiwan.

Trump's comments could ruffle feathers in Congress, where a bipartisan group of senators urged the president to advance a $14 billion arms package for Taiwan.

We're learning that Elon Musk, Larry Fink, David Solomon, just some of the executives invited to be a part of the U.S.

delegation to China.

A White House official tells Bloomberg that executives from Boeing, GE Aerospace, Visa, Micron, Qualcomm...

Cisco, MasterCard, Meta, Apple, and many more are also expected to join.

Reuters reports NVIDIA CEO Jensen Huang wasn't invited, the White House focusing more on agriculture and commercial aviation matters.

We bring you the closing numbers each day here at Bloomberg.

The S&P hit a new record high after gaining 14 points.

NASDAQ also hit a new high when it gained 27 points.

The Dow gained 95 points.