May 13, 2026: Trump and Xi Meet, Xi on Taiwan, More
episodePreviously titled “Trump and Xi Meet, Xi on Taiwan, More” — renamed by the publisher on Aug 2, 2026
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News When You Want It with Bloomberg News Now. I'm Doug Krisner. The summit between President Trump and Chinese leader Xi Jinping is underway in Beijing. These two leaders and their delegations are meeting at the Great Hall of the People. President Xi gave opening remarks through a translator.
The world has come to a new crossroads. Can China and the United States overcome the Thucydides trap? and create a new paradigm of major country relations.
And President Trump offered praise of Xi for his leadership and for their relationship.
You and I have known each other now for a long time. In fact, the longest relationship of our two countries that any president and president has had. And it's to me an honor.
On the agenda of this bilateral meeting were the issues of trade, Iran and Taiwan. Later in a readout of the first portion of the meeting, Xinhua cited President Xi saying Taiwan is the most important issue in China-U.S. ties. She also said China-U.S. ties can be dangerous if Taiwan is not handled well. The Senate narrowly confirmed Kevin Warsh as chair of the Federal Reserve. The 54 to 45 vote was the slimmest confirmation margin ever for a Fed chair. Here is Bloomberg's Michael McKee.
So the question now becomes, when can they get the paperwork done and get him sworn in? Jay Powell is going to be the Fed chair until Friday midnight. And after that, anytime we could see Kevin Warsh put his hand on the Bible and take the oath.
That is Bloomberg's Michael McKee. Now, Democrats fear Warsh will bend to President Trump's demands to rapidly lower interest rates, although Warsh has vowed to maintain the Fed's tradition of making great decisions free from political pressure. South Carolina's top court undid the murder convictions against Alex Murdaugh. Back in 2023, he was found guilty of murdering his wife and son. Murdaugh's conviction was overturned due to comments made to jurors by the court's clerk. Now, in a unanimous ruling, the South Carolina Supreme Court said the clerk egregiously attacked Murdaugh's credibility. Today's ruling does not mean Murdaugh will rock free. The former attorney is still serving a 40-year sentence for stealing money from his clients.
Now, the South Carolina AG's office will retry Murdoch for those killings. The Trump administration is downplaying the president, saying he doesn't think about Americans' financial hardships when dealing with the war in Iran. The president made those remarks at the White House yesterday before leaving for China. Today, Vice President J.D. Vance spoke to reporters about Trump's remarks.
When approaching the war with Iran, do you agree with the president's position that Americans' financial situations should not be a consideration in that decision-making process?
Well, I don't think the president said that. I think that's a misrepresentation of what the president said. But look, I agree with the president that Iran should not have a nuclear weapon. We're obviously engaged in a very aggressive and very engaged diplomatic process to try to ensure that that doesn't happen.
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