U.S. President Meets Chinese Leader in Beijing

The U.S. president met with Chinese leader Xi Jinping in Beijing last week. Discussions covered Iran, Taiwan, and the global economy. A full readout of the meeting has not been released.

China invoked a blocking statute last week to indicate it would not respect U.S. sanctions on Iranian oil. Iranian oil exports continue despite the closure of the Strait of Hormuz, with an estimated 90 percent going to China. Small plants known as teapot refineries process the crude on the Chinese mainland.

The U.S. president reportedly secured a promise from Xi not to send military equipment to Iran. Officials stated they will monitor the situation to verify compliance.

China has conducted military exercises near disputed waters and influence campaigns involving Japan and South Korea. The United States maintains military alliances with both countries and has thousands of troops deployed there. The U.S. president reportedly declined to engage on Taiwan during the summit. Officials indicated a similar approach was taken regarding other regional disputes.

Huawei announced that its chips will be used in an AI model developed in China. Beijing demanded that Meta unwind its acquisition of the Chinese AI company Manus. China's economy has weakened and foreign investment has declined. Officials noted that Beijing may seek to avoid additional U.S. tariffs.