Trump pitches China trade ‘win’ to US farmers ahead of Xi meeting, midterms

Former US Deputy Secretary of State Stephen Biegun believes Donald Trump will seek an "economic deal" with China during his upcoming visit to Beijing, now scheduled for May 14 and 15. Biegun, speaking at an event in Melbourne, suggests Trump desires a deal but the risk lies in China potentially prolonging negotiations. He warns that delaying tactics could provoke a harsher stance from Trump towards China. Biegun served as US deputy secretary of state from 2019 to 2021. The purpose of the visit is for Trump to meet with Chinese President Xi Jinping.

Donald Trump will visit China in May for his first meeting with Xi Jinping in eight years, rescheduled from an earlier date due to the Iran war. The visit, set for May 14-15 in Beijing, aims to reset relations between the two countries. Discussions are expected to cover trade, including potential agreements on agriculture and airplane parts, and contentious issues like Taiwan, where the US has increased arms sales. Trump seeks China's support in addressing the Iran conflict, particularly regarding the Strait of Hormuz, but China's response has been limited. This will be the first in-person talks between the leaders since their October meeting in South Korea. Trump will host Xi in Washington later in the year.

President Donald Trump will travel to Beijing on May 14-15 for a rescheduled summit with Chinese President Xi Jinping. The White House announced the trip, which was initially postponed due to the ongoing war between the U.S., Israel, and Iran. Despite the conflict continuing, Trump rescheduled the visit as the U.S. pressures Iran to accept a ceasefire. The President and First Lady Melania Trump also plan to host Xi and his wife for a White House visit later in the year. Press Secretary Karoline Leavitt expressed optimism that the Iran conflict could reach a resolution before Trump's trip to China.

Ahead of a mid-May meeting with Chinese President Xi Jinping, US President Donald Trump claimed a trade victory for American farmers. Speaking at the White House, Trump stated that he personally secured a deal with Xi to increase Chinese purchases of US soybeans to $40 billion. He attributed this increase to his direct negotiation with Xi, doubling a previous agreement. Trump encouraged farmers to invest in larger equipment due to this increased demand. However, this $40 billion figure has not been confirmed by the US Agriculture Department. Trump previously announced in October that China had committed to purchasing 12 million tonnes of US soybeans by the end of the year and 25 million tonnes annually through 2028.

President Trump announced the delay of his planned meeting with Chinese President Xi Jinping in Beijing, citing the ongoing US-Israel war against Iran as a factor. The meeting, initially scheduled for March 31 to April 2, is now expected to occur in approximately five or six weeks. While Trump stated China was amenable to the postponement and expressed optimism about the US-China relationship, the Chinese embassy in Washington did not confirm the new timeline, stating that communication regarding the visit is ongoing. Trump made the announcement at the White House after a meeting with the Irish leader. He described the economic relationship with China as "very good."

China has confirmed ongoing communication with the US regarding Donald Trump's planned visit to Beijing, scheduled between March 31st and April 2nd. This comes despite Trump suggesting a potential delay if China doesn't assist in securing the Strait of Hormuz, a crucial passage for international trade disrupted by the US-Israeli war with Iran. Trump stated China, a major beneficiary of the strait, should contribute to its security. China, while calling for a ceasefire in Iran, has not directly addressed Trump's request for warships but claims to be communicating with all parties to de-escalate tensions. The Strait of Hormuz blockage, caused by retaliation for airstrikes that killed Iran's supreme leader, has led to significant oil supply disruptions.

In March 2026, US President Donald Trump announced he is seeking to delay a planned trip to China by about a month. The trip, originally scheduled for March 31-April 2, was intended for Trump to meet with Chinese President Xi Jinping. Trump cited the ongoing US-Israeli war against Iran as the reason for the requested delay, stating his presence was needed in the US during the conflict. Tensions in the Middle East have escalated since the US and Israel launched an attack on Iran in late February. Trump also indicated that China's assistance in unblocking the Strait of Hormuz, which Iran claims to have closed to US and Israeli vessels, could influence the rescheduling of the meeting. The delay risks increasing tensions between the US and China.

President Trump's reported demand for China to help reopen the Strait of Hormuz, controlled by Iran, threatens to derail ongoing US-China trade talks in Paris. With the US-Israeli war in Iran disrupting global energy markets and driving up fuel prices, Trump is allegedly pressuring Beijing to send warships to the strait. Analysts suggest this demand could postpone a planned March 31 summit between Trump and President Xi Jinping, undermining the current trade negotiations. Experts warn that delaying the summit would diminish the significance of any agreements reached in Paris, especially with ongoing geopolitical uncertainties. The sixth round of trade talks recently concluded without significant breakthroughs, and a postponed summit is expected to further hinder progress on economic relations, technology ties, and dispute resolution between the two nations.

In March 2026, Japan began releasing oil from its emergency reserves in response to a global energy crisis. This crisis was triggered by the effective closure of the Strait of Hormuz by Iran, amid a war with the US and Israel. Prime Minister Sanae Takaichi announced Japan would unilaterally release 80 million barrels, preceding a coordinated effort by the IEA to release 400 million barrels globally. The move aims to stabilize the market amid concerns about disrupted oil supplies through the Strait, a critical waterway for global oil transport. Despite the IEA's efforts, oil prices have remained elevated, with Brent crude rising significantly since the start of the conflict. Japan has stated it will not deploy its navy to the Strait.

Investors are closely watching for confirmation of a summit between President Xi Jinping and Donald Trump, hoping it will provide stability amid geopolitical uncertainty and the Middle East conflict. The meeting, originally scheduled for late this month but postponed by the White House, is viewed as a potential sign of cooperation that could stabilize mainland China and Hong Kong stock markets. UBS Group suggests the meeting will focus on stability and growth, critical for both nations. Investors increasingly believe they need exposure to both US and Chinese markets, shifting the focus to capital allocation between the two. The summit could reinforce the view that Chinese equities are an important part of global portfolios, as investors recognize China's significance in the global economy.

Late-night hosts Jimmy Kimmel and Seth Meyers addressed Donald Trump's recent comments during a meeting with Japan's prime minister. Kimmel criticized Trump's joke about Pearl Harbor, suggesting his knowledge of the event comes from the Ben Affleck movie. Kimmel also highlighted a newly unredacted email contradicting Trump's claims about Jeffrey Epstein's relationship with Mar-a-Lago. Meyers also mocked Trump's Pearl Harbor comment, pointing out the historical inaccuracy. Both hosts also discussed the impact of the government shutdown on TSA agents, with Kimmel noting reports of agents selling blood to pay bills. The discussions occurred on their respective late-night shows following Trump's meeting with the Japanese prime minister.

During a meeting with Japanese Prime Minister Sanae Takaichi in the Oval Office, Donald Trump responded to a reporter's question about informing allies before a potential attack on Iran by referencing Japan's attack on Pearl Harbor. Trump joked about Japan's history of surprise attacks, asking why they didn't inform him about Pearl Harbor beforehand. The remark, made in response to a question about informing allies before military action, evoked the 1941 attack that led the U.S. into World War II. While some supporters praised the comment, others criticized it as inappropriate. This incident follows a previous awkward exchange where Trump made a similar comment about D-Day.

Oil prices have risen above $100 a barrel due to disruptions in global energy supplies amid the ongoing conflict between the United States, Israel, and Iran, which began on February 28, 2026. The surge follows Iran's pledge to maintain the closure of the Strait of Hormuz, a critical waterway for about one-fifth of global oil supplies. Traffic through the strait has significantly decreased, with only a few vessels passing through daily compared to the pre-war average. The US President has prioritized preventing Iran from obtaining nuclear weapons over concerns about rising oil prices. Asian stock markets have declined following the oil price increase and overnight losses on Wall Street.

The International Energy Agency (IEA) warned that the ongoing war in Iran is causing the "largest supply disruption in history" for oil markets due to a blockade of the Strait of Hormuz. This disruption surpasses the crises following the Yom Kippur war and the war in Ukraine. Iran's new supreme leader called for the vital trade artery to remain closed, further escalating the situation. In response, global oil prices surpassed $100 a barrel. The IEA ordered a historic release of 400 million barrels of emergency crude, with the US contributing 172 million barrels from its strategic petroleum reserve. Despite these efforts, oil prices remain volatile, and global stock markets have reacted negatively to the escalating conflict.

Despite the International Energy Agency's (IEA) agreement to release a record 400 million barrels of oil reserves, Brent crude prices surged to $100 a barrel in Asia trading. The IEA's move, involving all 32 member countries, aimed to address supply concerns amid heightened tensions. Iran warned that oil prices could reach $200 a barrel if its attacks on ships intensify in the Strait of Hormuz, a crucial waterway for global energy shipments. The rising oil prices have led to increased fuel costs worldwide, with the US average petrol price exceeding $3.50 a gallon. Asian countries like the Philippines, Thailand, and Vietnam are particularly affected, experiencing long queues at petrol stations. In response, some countries are implementing measures like four-day work weeks and work-from-home policies to conserve energy.

Amidst ongoing conflict between the US and Iran in March 2026, the Strait of Hormuz remains blocked, causing rising oil prices. US Energy Secretary Chris Wright stated the US military is currently "not ready" to escort oil ships through the Strait, as military assets are focused on dismantling Iran's offensive capabilities. This contradicts earlier suggestions that the US Navy would provide escort. Iran's new Supreme Leader, Mojtaba Khamenei, has declared the Strait should remain closed as a defensive tactic. The Iranian military has indicated it is prepared to engage US forces in the Strait.

In his first statement since succeeding his father, Iran's new supreme leader, Mojtaba Khamenei, vowed to keep the Strait of Hormuz closed. Khamenei stated that blocking the Strait, a vital waterway for global oil supplies, "must definitely be used." He also demanded the United States close all its bases in the region. The statement, broadcast on state television on Thursday, follows the death of his father at the start of the US-Israel war against Iran. The Strait of Hormuz is a strategic location through which approximately one-fifth of the world's oil supply passes.

Amid rising tensions over oil shipments, the US military attacked and destroyed 16 Iranian mine-laying vessels near the Strait of Hormuz. This action followed reports that Iran had begun laying mines in the strategically important waterway, through which about one-fifth of the world's oil passes. The US military released footage of the attacks shortly after Donald Trump demanded the removal of any Iranian mines in the Strait. Oil shipments have been blocked since US-Israeli strikes on Iran 11 days prior, causing market volatility, further exacerbated by a retracted social media post from the US energy secretary claiming a successful US Navy escort of an oil tanker through the Strait. Iran has threatened to stop any movement of the US fleet and its allies in the region.

In March 2026, Iran's UN ambassador, Amir Saeid Iravani, stated that Tehran would maintain the Strait of Hormuz open for navigation. This announcement clarified a previous statement by Supreme Leader Mojtaba Khamenei, who suggested the waterway might be closed to exert pressure on Iran's adversaries. Iravani emphasized Iran's continued commitment to freedom of navigation in the Strait of Hormuz. The Strait of Hormuz is a strategically important waterway for global oil transportation. The ambassador's statement aimed to reassure international actors regarding Iran's intentions concerning this vital shipping lane.