Iran focus at Trump-Xi summit may delay progress on tariffs, rare earths
CNBC • • nation
Key Points:
- The upcoming U.S.-China summit on May 14-15 will likely focus heavily on the Iran war, overshadowing other issues such as tariffs and rare earth supply concerns.
- China recently hosted Iran's foreign minister for the first time since the conflict began, raising hopes for a peace deal and impacting oil prices and stock markets.
- The U.S. declined China's invitation for industry-specific meetings between senior Chinese leaders and U.S. CEOs to avoid perceptions of being too close to Beijing, resulting in a smaller group of American executives accompanying President Trump.
- Boeing and Citigroup CEOs are expected to join Trump, with Boeing anticipated to secure its first major Chinese order in nearly a decade during the summit.
- An end to the Iran conflict is seen as a significant positive for global business, but recent military tensions in the Strait of Hormuz and attacks on vessels, including a Chinese-owned tanker, continue to complicate the situation.
