World leaders watch as Trump heads to Beijing for high-stakes Xi summit
Trump's state visit to China from May 13 to 15 has capitals from Singapore to Brussels tracking every move. Iran, Taiwan, the Strait of Hormuz and trade tariffs are all on the agenda.
Donald Trump arrives in Beijing on Tuesday for a three-day state visit, his first since 2017, with Iran, Taiwan and trade tariffs topping the agenda. China confirmed the dates over the weekend, and US officials briefing CNBC said the Strait of Hormuz, where shipping has slowed since the Iran war began, would be a central topic.
Allied capitals from Singapore to Brussels are watching closely. European officials want to know whether Trump will press Xi to lean on Tehran for a ceasefire, while Asian governments are tracking signals on Taiwan and chip exports. Investors are pricing in a joint statement that could ease oil prices, which have stayed above $90 a barrel since Trump rejected Iran's latest peace offer.
The talks come as the yuan has strengthened to a three-year high and Korea's KOSPI hit fresh records on AI chip demand. Analysts said any sign of a trade truce or coordination on Iran could lift Asia-Pacific equities, while a breakdown risks reigniting tariff tensions ahead of the July 4 EU deadline.
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