live Trump says deal to reopen Strait of Hormuz close as oil prices climb
U.S. President Donald Trump said negotiations to reopen the Strait of Hormuz are progressing and suggested an agreement with Iran could be reached “...
U.S. President Donald Trump and Chinese President Xi Jinping will meet face-to-face tomorrow in Busan, South Korea, marking a pivotal moment in bilateral ties between the two major powers.
The meeting, confirmed by China’s Foreign Ministry spokesperson Guo Jiakun at a regular press conference, will take place on 30 October in Busan and is billed as an opportunity for in-depth communication on strategic and long-term issues concerning U.S.-China relations.
Guo emphasised that head-of-state diplomacy plays an irreplaceable role in providing strategic guidance for China-U.S. relations. He said the two leaders will exchange views on bilateral relations and issues of mutual interest, and that China stands ready to work with the U.S. to achieve positive outcomes and provide new impetus for the steady development of their ties.
According to an earlier White House statement, the meeting is scheduled alongside the Asia-Pacific Economic Cooperation Summit (APEC) in South Korea, where President Trump is attending. This will be the first in-person encounter between Trump and Xi since 2019.
A range of contentious issues is expected to dominate the agenda, including tariffs, technology restrictions, rare-earth export controls, agricultural trade, and broader strategic matters.
When asked about Trump’s comments on potentially lowering fentanyl-related tariffs, Guo reiterated that China’s position on the matter is consistent and clear. He said China has one of the strictest drug control systems in the world and remains open to continuing cooperation with the U.S. on counternarcotics, but added that Washington needs to take concrete actions to create the necessary conditions for such cooperation.
For Washington, the meeting offers a potential pathway to ease months of friction that have deepened with tariff escalations, technology disputes, and tensions over supply chains. For Beijing, it represents an opportunity to stabilise relations and set a more constructive tone for long-term engagement.
The outcome of the Busan talks is expected to play a key role in shaping the trajectory of the world’s two largest economies — whether their relationship moves toward renewed cooperation or enters a phase of managed competition.
U.S. President Donald Trump said there was an "all-day negotiation" on Tuesday with Iran, characterising the talks positively while also threatening to hit Iran "really hard" if a deal was not reached.
Shipping traffic through the Strait of Hormuz and the Bab el-Mandeb Strait, two key maritime chokepoints in the region, decreased significantly from the previous day, according to shipping data.
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