BEIJING — The Iran war is likely to take center stage in the summit between U.S. President Donald Trump and China’s Xi Jinping, leaving less scope to resolve issues like tariffs and rare earth supplies.
U.S. Treasury Secretary Scott Bessent has already said that Iran will be a topic in the meetings, which are due to take place May 14 and 15. And earlier this week, China hosted Iran’s foreign minister for the first time since the war began in late February -- raising hopes for a peace deal, sending oil prices lower and fueling stock-market gains.
The U.S. government declined China’s invitation to organize industry-specific meetings between senior Chinese leaders and U.S. CEOs, thinking it could make American businesses appear too close to Beijing, according to a U.S. executive with direct knowledge of the arrangements. As of Tuesday, the White House had yet to formally invite executives to join Trump on the trip, and a proposed list of two dozen leaders could be halved, the person added.
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and Citigroup
