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View all search resultsUnited States President Donald Trump said he had made "fantastic trade deals" with China's Xi Jinping, as the pair met on Friday at final talks of a superpower summit, but the news gave markets little to cheer, while Beijing warned Washington about mishandling Taiwan and over the US war with Iran.
China is close to Iran and is the main buyer of its oil. Iran has largely shut the strait to ships apart from its own since the US-Israeli war on Iran began on February 28, causing the biggest-ever disruption to global energy supplies.
The power dynamic has shifted since Trump's last visit in 2017, when China went out of its way to persuade the United States to acknowledge its growing status. This time around, it's the United States, unprompted and of its own volition, that is acknowledging that status.
President Donald Trump and an entourage that included Nvidia's Jensen Huang and Elon Musk were greeted with a lavish welcome in Beijing on Wednesday as he prepared to ask China's Xi Jinping to "open up" to US business at the start of their two-day summit.
With his public approval ratings bruised by the Iran war, Trump embarks on his first visit to China in nearly a decade aiming to strike deals on farm goods and airplanes and maintain a fragile trade war truce between the world's top two economies.
The top US and Chinese economic officials held "candid" talks on Thursday ahead of a meeting set for May between President Donald Trump and President Xi Jinping, with both sides raising complaints about the other's trade policies, the US Treasury and Chinese state media said.
US Treasury Secretary Scott Bessent said on Tuesday China had been an unreliable global partner during the Middle East war by hoarding oil supplies and limiting exports of some goods, mirroring its actions with medical goods during the COVID-19 pandemic.
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