P.M. Edition for May 12. President Trump left today for his <a href="https://www.wsj.com/world/china/how-xi-is-playing-his-iran-cards-as-trump-heads-to-beijing-7c3aa973?mod=WSJ_WNPOD">summit with Chinese leader Xi Jinping</a>. WSJ Washington bureau chief <a href="https://www.wsj.com/news/author/damian-paletta?mod=WSJ_WNPOD">Damian Paletta</a> lays out the stakes, with the two leaders expected to tackle trade, Iran and Taiwan. Plus, <a href="https://www.wsj.com/economy/cpi-inflation-report-april-62b11096?mod=WSJ_WNPOD">inflation hit its highest level</a> in three years last month, outpacing wage growth. Journal economics reporter <a href="https://www.wsj.com/news/author/chao-deng?mod=WSJ_WNPOD">Chao Deng</a> explains how the war in the Middle East is driving up prices. And there’s a <a href="https://www.wsj.com/lifestyle/careers/there-is-a-fire-sale-on-m-b-a-s-87d56c69?mod=WSJ_WNPOD">fire sale on MBAs</a>, with a number of business schools offering deep discounts on their tuition. We hear from reporter <a href="https://www.wsj.com/news/author/ray-a-smith?mod=WSJ_WNPOD">Ray Smith</a> about why it has everything to do with AI. Alex Ossola hosts.

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