Trump and Xi meet amid high-stakes trade tensions. During a Beijing summit, Chinese President Xi Jinping expressed interest in purchasing more U.S. oil to reduce reliance on the Strait of Hormuz, according to White House officials. The two leaders are discussing trade relations, tariffs, and geopolitical concerns including Taiwan and Iran tensions. Xi warned that mishandling Taiwan could trigger conflicts, while both sides agreed the Strait of Hormuz must remain open for global energy flows. Markets are watching for joint statements on tariff progress and market access agreements. Oil prices have risen significantly since Iran tensions escalated, with Brent crude trading at USD 105.87 per barrel. A U.S. CEO delegation accompanying Trump is seeking business commitments in China. The outcome of this summit could reshape U.S.
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