Trump Meets Xi in Beijing, Iran and Trade Dominant on Agenda
US President Donald Trump will meet with Chinese President Xi Jinping on Thursday morning in Beijing, according to a White House statement. The meeting is considered high-stakes, as it will be dominated by discussions about trade and the Iran war, amid lingering geopolitical tensions looming over global markets.
This visit marks the first by a US president to China in nearly a decade. The meeting comes as the world's two largest economies address a number of bilateral issues, while conflicts in the Middle East add to the strain on Washington-Beijing relations.
On the Iran agenda, Trump is expected to press Xi on China's approach to Tehran, including the issue of Iranian revenues and alleged potential arms exports. The US has also imposed sanctions on several Chinese companies that claim to be buying Iranian oil, as part of an effort to pressure Tehran to end the war that began in late February.
Trump also stated that he would discuss US arms sales to Taiwan, a sensitive issue for Beijing. He said Xi urged the US to be cautious about the sales, after the US approved an $11 billion arms sales package for Taiwan in December. Trump confirmed he would continue to raise the topic during the meeting.
Another issue Trump will raise is the case of Hong Kong businessman Jimmy Lai. Lai, the founder of the now-defunct Apple Daily newspaper, was sentenced to 20 years in prison in February on charges of collusion and sedition under Beijing's National Security Law. Trump has said he wants Lai released and will re-raise the case.
The meeting took place amidst tensions, as Trump also threatened to put the US-Iran ceasefire on "massive life support" after rejecting Iran's latest peace offer. The narrative surrounding the closure of the Strait of Hormuz in this issue adds to concerns about a global energy crisis, as Gulf countries, including China, struggle to export oil and gas, while China, a major importer, seeks to prevent domestic shortages. In a market context, such risk escalations tend to support oil due to the supply risk premium, supporting the dollar through safe-haven demand, and inflation concerns that curb expectations of interest rate easing. Gold typically finds support as a geopolitical and inflation hedge, although its gains could be tempered if a stronger dollar becomes dominant. (asd)
Source: Newsmaker.id
