{"id":61861,"date":"2026-05-12T14:38:36","date_gmt":"2026-05-12T18:38:36","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-arrives-in-china-as-cbo-projects-1-2-trillion-golden-dome-cost-eu-bans-brazil-meat-imports\/61861\/"},"modified":"2026-05-12T14:38:36","modified_gmt":"2026-05-12T18:38:36","slug":"trump-arrives-in-china-as-cbo-projects-1-2-trillion-golden-dome-cost-eu-bans-brazil-meat-imports","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-arrives-in-china-as-cbo-projects-1-2-trillion-golden-dome-cost-eu-bans-brazil-meat-imports\/61861\/","title":{"rendered":"Trump Arrives in China as CBO Projects $1.2 Trillion &#8216;Golden Dome&#8217; Cost; EU Bans Brazil Meat Imports"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The Congressional Budget Office (CBO) estimated the total cost of the US &quot;Golden Dome&quot; missile defense system at $1.2 trillion<\/strong>, nearly seven times the Pentagon&#39;s <strong>$185 billion<\/strong> estimate.<\/li>\n<li><strong>President Trump arrived in Beijing for a high-stakes summit with President Xi Jinping<\/strong>, accompanied by Secretary of State <strong>Marco Rubio<\/strong> and Defense Secretary <strong>Pete Hegseth<\/strong>, to discuss the ongoing <strong>Iran war<\/strong>.<\/li>\n<li><strong>The European Commission will ban Brazilian shipments of cattle, chicken, and eggs starting September 3, 2026<\/strong>, following the country&#39;s failure to comply with EU antimicrobial resistance standards.<\/li>\n<li><strong>OpenAI is generating billions in revenue through &quot;circular&quot; purchase pledges<\/strong>, leveraging multi-billion dollar agreements with vendors like Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>) and Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>).<\/li>\n<li><strong>Central bank officials from the Fed and ECB signaled a hawkish shift<\/strong>, with Fed&#39;s <strong>Austan Goolsbee<\/strong> warning that inflation is heading the &quot;wrong direction&quot; due to rising services costs.<\/li>\n<\/ul>\n<p>The <strong>Congressional Budget Office (CBO)<\/strong> released a report Tuesday projecting that the <strong>US Golden Dome<\/strong> space-based interceptor constellation will cost <strong>$1.2 trillion<\/strong> over 20 years. This estimate far exceeds the Pentagon&#39;s <strong>$185 billion<\/strong> figure and includes the deployment of <strong>7,800 satellites<\/strong>. Defense contractors such as Lockheed Martin (<a href=\"\/stock\/LMT\">LMT<\/a>) and Northrop Grumman (<a href=\"\/stock\/NOC\">NOC<\/a>) are expected to be primary beneficiaries of the massive program, which aims to provide a &quot;notional&quot; national missile defense shield.<\/p>\n<p>President Trump touched down in China today for a state visit, marking the first time a US president has visited the country in nearly a decade. Trump is expected to hold extensive discussions with <strong>President Xi Jinping<\/strong> regarding the <strong>Iran war<\/strong>, though he stated he does not believe he needs China&#39;s assistance to handle Tehran. Trump warned that Iran will either <strong>&quot;do the right thing or we will finish the job,&quot;<\/strong> as news surfaced that <strong>Saudi Arabia<\/strong> conducted unpublicized retaliatory strikes on Iranian soil earlier this year.<\/p>\n<p>In a major blow to global agricultural trade, the <strong>EU Commission<\/strong> announced that <strong>Brazil<\/strong> is no longer permitted to ship <strong>cattle, chicken, and eggs<\/strong> to the bloc effective <strong>September 3, 2026<\/strong>. The ban stems from Brazil&#39;s exclusion from an updated list of countries compliant with EU rules on antimicrobial use in livestock. Shares of major Brazilian exporters like BRF S.A. (<a href=\"\/stock\/BRFS\">BRFS<\/a>) and JBS S.A. (<a href=\"\/stock\/JBSAY\">JBSAY<\/a>) are expected to face pressure as the ban impacts roughly <strong>30-35%<\/strong> of the country&#39;s poultry exports.<\/p>\n<p><strong>OpenAI<\/strong> is reportedly earning billions by pledging to purchase massive amounts of computing power from its own vendors. According to <em>The Information<\/em>, these &quot;circular&quot; arrangements involve vendors taking stakes in the AI firm or making payments back to it in exchange for long-term purchase commitments. OpenAI has recently secured significant funding rounds and signed multi-billion dollar deals with Microsoft (<a href=\"\/stock\/MSFT\">MSFT<\/a>), Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>), and Amazon (<a href=\"\/stock\/AMZN\">AMZN<\/a>) to fuel its infrastructure expansion.<\/p>\n<p>On the economic front, the <strong>US Federal Budget Balance<\/strong> for April showed a surplus of <strong>$215 billion<\/strong>, slightly missing the <strong>$220 billion<\/strong> consensus estimate. Despite the surplus, <strong>Fed&#39;s Austan Goolsbee<\/strong> expressed concern over a &quot;concerning&quot; upward drift in <strong>services inflation<\/strong>, noting that the latest CPI report offered little positive news. Across the Atlantic, ECB&#39;s <strong>Joachim Nagel<\/strong> stated the Eurozone is shifting to an <strong>&quot;adverse scenario&quot;<\/strong> where further rate hikes are becoming increasingly likely due to persistent price pressures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The Congressional Budget Office (CBO) estimated the total cost of the US &quot;Golden Dome&quot; missile defense system at 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