Trump Accuses Xi of ‘Conspiring Against US’, UK Budget Delivery Set for Nov 26 | The Pulse 9/03/2025

President Donald Trump took aim at Chinese leader Xi Jinping as he hosted foreign leaders at a major military parade in Beijing, a reminder of the lingering tensions between the two sides over trade, tech and other issues. Trump questioned whether Xi would credit the US in a speech for the “massive amount of support” it provided to China during World War II, and Xi ultimately didn’t directly mention the US.

Elsewhere, Chancellor of the Exchequer Rachel Reeves will deliver the UK's annual budget on Nov. 26, which is expected to be a huge test for her.

Economists estimate Reeves may need to raise taxes or cut spending by as much as £51 billion to fill a black hole in the public finances and restore her fiscal buffer.

Today's guests: Virginie Maisonneuve, Allianz Global Investors Global CIO for Equities, Simon Macadam, Capital Economics Deputy Chief Global Economist, Tore Sandvik, Norwegian Defense Minister.

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