Trump Wraps China Visit

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Top of the Agenda

Trump and Chinese President Xi Jinping both praised their Beijing summit for improving bilateral ties, though the visit produced few specific public commitments. Trump departed for the United States today after a day of private meetings and tours with Xi. Trump said earlier in the day that the two had “settled a lot of different problems,” while China’s foreign ministry said they had “agreed on a new vision” of strategic stability. While neither side issued many details, the end of the visit gave signals on…

Trade. Trump told Fox News that China plans to buy two hundred Boeing airplanes, though China did not immediately comment on the matter. U.S. Treasury Secretary Scott Bessent told CNBC that the two sides would discuss the creation of a board to oversee investments in non-sensitive areas, and U.S. Trade Representative Jamieson Greer told Bloomberg that Washington expects Beijing to commit to buying billions of dollars of U.S. agricultural goods.

Iran. Trump said that both leaders feel “very similar” about how the war should end, and he told Fox that Xi agreed not to provide military equipment to Iran. While Beijing did not announce any changes in its posture, its foreign ministry emphasized China’s prior endorsement of a joint peace proposal made with Pakistan. Meanwhile, Iranian news outlets reported yesterday that Tehran had allowed some Chinese vessels to pass through the Strait of Hormuz following contacts from Beijing.

Artificial intelligence. The United States and China will “set up a protocol” to ensure nonstate actors do not get their hands on artificial intelligence (AI) models, Bessent said. Reuters reported yesterday that Washington had greenlit the sale of Nvidia’s second-most powerful chip to ten Chinese firms, but no deliveries had been made. Neither leader made specific announcements about chip sales during the trip.

Taiwan. U.S. Secretary of State Marco Rubio told NBC News yesterday that U.S. policy toward Taiwan was “unchanged” following Trump’s meeting with Xi. Taiwan’s foreign ministry thanked Washington for its support. Trump told reporters aboard Air Force One today that he spoke “a lot” about Taiwan with Xi and added that “on Taiwan, [Xi] does not want to see a fight for independence because that would be a very strong confrontation.”

“The best outcome of the summit is a tacit extension of the current truce with some deliverables on agriculture, aerospace, and investment. This uneasy stability serves both sides: It buys China time to consolidate technological autonomy and further sharpen its economic security controls, and it gives the United States and its partners a narrow window to build some resilience into their own industrial bases.”

—CFR Senior Fellow Heidi E. Crebo-Rediker in an Expert Take 

Across the Globe

CIA chief in Cuba... CIA Director John Ratcliffe made a rare visit to Havana yesterday to meet with Cuban officials in a bid to advance “the political dialogue between both nations,” the Cuban government said. Ratcliffe conveyed that Washington would “seriously engage” if Havana makes unspecified “fundamental changes,” an unnamed CIA official told Reuters. Cuban President Miguel Díaz-Canel said yesterday Cuba would accept an offer of $100 million in humanitarian aid from the United States.

…and leaks about U.S. judicial action. Unnamed U.S. officials also told multiple news outlets yesterday that the Justice Department was moving to indict former Cuban President Raúl Castro. It echoes the step taken against former Venezuelan President Nicolás Maduro before the U.S. raid to apprehend him in January. The Justice Department did not immediately comment.

Saudi pitch on regional pact. Riyadh has floated the idea of a regional nonaggression pact that includes Iran to its neighbors once the war is over, unnamed diplomats told the Financial Times. It could be based on the Helsinki Accords that managed tensions during the Cold War, two unnamed Western diplomats said; multiple European countries reportedly support the idea.

UK retreat from climate fund. The United Kingdom (UK) plans to halve its 2024-2027 contribution to the world’s largest government-backed climate fund, cutting around $1 billion, a spokesperson for the fund said. London cited an overall reduction in its foreign aid budget. The UK became the largest contributor to the fund after Trump withdrew $4 billion pledge last year.

Pentagon mineral deals squad. A new team inside the Pentagon has been tasked with accelerating deals to supply the United States with rare earths using government funds and financing tools.China currently dominates the global supply chain. Some critics have warned the rush to sign deals could lead to insufficient screening of unproven companies or potential conflicts of interest, Bloomberg reported yesterday, though a Pentagon spokesperson said the team conducts “rigorous vetting.”

Iran-UAE tensions in BRICS. A BRICS foreign ministers meeting in New Delhi ended without a joint statement today after members voiced differing positions over the situation in the Middle East, host India said. Iranian Foreign Minister Abbas Araghchi called for fellow BRICS member the United Arab Emirates (UAE) yesterday to reconsider its policy toward Tehran after accusing Abu Dhabi of facilitating military operations against it, according to Iranian state media.

Reported change for Adani case. The U.S. Justice Department is considering dropping corruption charges against Gautam Adani, India’s richest man, filed at the end of the Biden administration, unnamed sources told the New York Times. They added the move was part of a Trump administration retreat from pursuing foreign bribery cases. A spokesperson for Adani did not comment.

Fuel price hikes in India and Kenya. Both countries increased prices at the pump due to the global energy crunch since yesterday. India’s more than 3 percent increase at state-run fuel retailers is the first time New Delhi has passed on the international price hike to consumers. Kenya is raising prices by as much as 23.5 percent, following a 24.2 percent hike last month.

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