Trump heads to China for state visit. And, how the war in Iran has affected inflation

"President Trump leaves for a state visit to China today. It will be his first visit to Beijing during his second term. Trade will be a major focus, as well as the ongoing conflict with Iran. China and Iran are close allies and trading partners, and there are questions about whether China has assisted Iran. The U.S. has spent weeks bombing Iran and is now blockading all ships connected to the country."

"Observers expect China to announce additional purchases of soybeans and other agricultural products, and possibly even Boeing airplanes, during the trip. Announcing significant purchase agreements has become a trademark of Trump's foreign trips, but these deals often turn out to be less substantial than they initially appear. Experts tell Keith that the U.S. and China want to stabilize their relationship."

"A recent NPR/Chicago Council on Global Affairs/Ipsos poll reveals that many Americans see China as an economic rival seeking global dominance. A new inflation report released this morning will show how much the war with Iran is affecting consumer prices. Higher gasoline prices are the most noticeable fallout from the conflict in the U.S."

"As the war enters its 11th week, the president has said he wants to temporarily suspend the gas tax a decision that would require an act of Congress. Currently, the tax is 18.4 cents per gallon of gas and 24.4 cents per gallon of diesel. But gas isn't the only area"

President Trump leaves for a state visit to China, his first trip to Beijing in his second term. Trade is expected to be a major focus, alongside the conflict with Iran, where China and Iran have close ties and questions exist about Chinese assistance. The U.S. has been bombing Iran and is blockading ships connected to the country. Observers anticipate China may announce additional purchases of soybeans and other agricultural products, and possibly Boeing airplanes. Significant purchase announcements are expected to support efforts to stabilize U.S.-China relations, even as many Americans view China as an economic rival. A new inflation report will reflect how the Iran war is affecting consumer prices, with higher gasoline prices among the most visible impacts.

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