Economy

LiveNOW’s Anna Marsick is speaking with POLITICO’s Grace Yarrow, who works as a food and agriculture policy reporter. They are speaking about the forces currently keeping beef prices elevated and why pressure on the industry could last for years. Even though beef costs have climbed, consumer appetite for the product remains strong. In 2025, shoppers spent more than $45 billion on beef, buying more than 6.2 billion pounds, according to data from Beef Research, a contractor for the National Cattlemen’s Beef Association. 

We are watching as President Donald Trump and Chinese President Xi Jinping are meeting this Friday to wrap up a two-day state visit in Beijing. According to early reports, the conversations between the world leaders focused on divisive issues such as the Iran war, trade, technology, and a stark warning about Taiwan. Trump and Xi are also having tea and lunch before Trump departs for the United States. 

We are learning more about the historical background behind President Donald Trump’s trip to Beijing and his highly anticipated summit with Chinese President Xi Jinping. According to a number of experts, Xi and Trump’s meeting is shaping Beijing's approach to the Iran conflict as China seeks to protect its energy supplies. LiveNOW’s Austin Westfall is speaking with presidential historian and author, James Robenalt, as we await the meeting between the two world leaders. 

We are watching this week as President Donald Trump arrives in Beijing for a highly anticipated set of meetings with Chinese President Xi Jinping. Xi and Trump’s meeting is shaping Beijing's approach to the Iran conflict. This comes as Trump has recently pressured Beijing and other world leaders to use their military force to protect the Strait of Hormuz. LiveNOW’s Andy Mac is learning more about the upcoming talks with Scott Kennedy, a senior adviser and trustee chair in Chinese Business and Economics at the Center for Strategic and International Studies (CSIS). 

LiveNOW’s Anna Marsick is speaking with economic strategist, Dan Varroney, as President Donald Trump arrived in Beijing this week for a high-stakes summit with Chinese President Xi Jinping. Trump’s trip was initially delayed so he could help steward the U.S. and Israeli war against Iran. According to Reuters, the meeting between Trump and China’s Xi will have a narrow focus, avoiding topics, including AI governance and market access. 

LiveNOW’s Austin Westfall is speaking with economist Dr. Mike Walden as new data shows that energy costs, including gasoline, increased last month, as did the cost of food at a rate not seen since last December. This comes as inflation had been dropping more or less steadily before conflict in the Middle East began. Reports show that consumer prices were up 3.8% last month compared to April 2025. 

We are learning more this week as the Labor Department released its Consumer Price Index report. The new data reveals that prices for Americans continued to increase last month as the war with Iran continues. According to the U.S. Bureau of Labor Statistics, rising gas prices helped push inflation up in April in the biggest year-over-year increase since May 2023. LiveNOW’s Andy Mac is speaking with Heather Long, chief economist at Navy Federal Credit Union, as consumers wonder what types of long-term impacts are going to come from the recent rise in inflation. 

Trump answered yes on Monday when asked if he would suspend the federal gas tax amid higher prices stemming from the war with Iran.

Economic strategist Dan Varroney joins LiveNOW's Anna Marsick to discuss the April jobs report released Friday. 115,000 jobs were added in April, which surpassed economists' expectations. The unemployment rate held steady at 4.3 percent.