Trump Focuses on Trade at Xi Summit, Iran Issue Downplayed
US President Donald Trump said trade talks will be a top priority at his meeting with Chinese President Xi Jinping in Beijing, while the Iran war is said to be a low-key issue. Trump made the remarks to reporters at the White House on Tuesday before departing for China.
Trump stated that the two leaders would discuss "a lot of things," but "more than anything, trade." He also downplayed the Iran-related discussion, saying the situation was "very much under control," while insisting the US wanted a deal, or the "consequences" would be severe for Iran.
With the Iran war looming over the summit, Trump targeted business deals and details on the creation of a new trade council to manage relations between the world's two largest economies. The two sides are also expected to discuss extending the trade truce they reached last fall.
The energy dimension remains a key focus, as China, a major buyer of Iranian oil, has called for the reopening of the Strait of Hormuz. The waterway remains effectively closed as the US blockades Iranian ports and Tehran restricts other international traffic, while the war has triggered a global energy crisis and depleted global fuel reserves. Trump had previously been under pressure to end the war and had previously said he would press Xi on Beijing's approach to Iran. However, on Tuesday, Trump emphasized his relationship with Xi, calling their relationship "fantastic," signaling that economic diplomacy would be at the forefront of the meeting.
Markets will be watching to see whether the meeting produces concrete steps regarding extending the trade truce and the framework for a new trade council, as well as to what extent energy and access to Hormuz influenced the discussions despite not being high on the agenda. (arl)
Source: Newsmaker.id
