Trump and Xi Buy Time on Trade, Judge Lifts Media Ban, More
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What new trade detente did Trump and Xi agree to extend?
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News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin in Washington, where Chinese President Xi Jinping has arrived for his first state visit in more than a decade. The high-stakes summit with President Trump has already delivered at least one result on trade. Treasury Secretary Scott Besson denounced it on Fox News.
We have agreed today that we will extend what we call the Busan Agreement, the detente economic detente between the two countries that was scheduled to end on November 10th. That is going to be extended until January 10th to give us more time to see what we can do on the economic front.
Again, that was Treasury Secretary Scott Besant on Fox News. Bloomberg News China reporter Colin Murphy reports the limited extension could be disappointing for both sides.
Earlier in the week, Jameson Greer was saying that although the two sides were divided on the nature of the truce, you know, the U.S. could sort of support something between three and six months. Meanwhile, the Chinese side were looking for something much, much longer, up to a year, even longer than that.
Still, Bloomberg's Colin Murphy reports the two-month extension will cover two world leader summits in Shenzhen, China and Miami, and both Presidents Trump and Xi could meet there again.
How long is the Busan Agreement extension and why does it matter?
Well, Nathan, this week's meeting kicked off with a rare honor for President Xi, a personal greeting from President Trump. The President and First Lady Melania Trump shook hands with Xi and his wife Peng Liyuan as they arrived at the tarmac at Joint Base Andrews. It's the first time a president has greeted any world leader besides the Pope at the airport since 1962. President Trump will give the Chinese leader another former welcome later this morning at the White House.
And then tonight, Karen, President Trump will host Xi for a lavish state dinner. The guest list includes a who's who in finance and tech from NVIDIA CEO Jensen Wong and Apple Executive Chairman Tim Cook to Jamie Dimon of JPMorgan Chase. And that's not all, as we hear from Bloomberg Senior Editor Bill Ferrys in Washington.
Jane Frazier of Citigroup, Jeff Bezos of Amazon.com. I think in part that reflects, you know, the tech leaders have been there for President Trump since his inauguration. And the fact that AI, the data center issue, is going to be part of the discussions. It may not be part of a major breakthrough, but it's definitely the political context that's taking place right now.
Bloomberg's Bill Ferrys reports President Xi did not bring his own business delegation. That's dampening hopes for any major deals to come out of the summit.
Nathan, the United Nations General Assembly continues in New York. The gathering has given Iran's President Massoud Pesachian a rare opportunity to criticize the U.S. war against his country on American soil.
I had prepared a speech
to present to you
yesterday. The United States President described
us as
terrorists. We have been the victims of terrorism.
And speaking through an interpreter, Iranian President Massoud Pesachian told the U.N.
Why is President Xi’s state dinner guest list significant for tech and finance?
General Assembly his country is ready to resume negotiations with the U.S., but will not respond to threats. Secretary of State Marco Rubio reacted on the U.N. sidelines.
I don't know what standing Iran has to lecture anyone on human rights or the international system when they habitually violate it. They violate the sovereignty of every one of their neighbors by sponsoring terrorist organizations that reside within the borders of those countries. They slaughter their own people.
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Chapters
7 chapters
1
What new trade detente did Trump and Xi agree to extend?
0:00–1:48
2
How long is the Busan Agreement extension and why does it matter?
1:48–3:37
3
Why is President Xi’s state dinner guest list significant for tech and finance?
3:37–5:03
4
What did Iran’s president say at the UN and how did the U.S. respond?
5:03–5:39
5
How are AI leaders like Sam Altman and Dario Amadei urging government involvement?
5:39–6:06
6
What are the biggest risks of advanced AI according to experts?
6:06–6:48
7
What sports headlines wrapped up the Bloomberg News Now segment?
6:48–7:11
Speakers
11 identifiedMore from Bloomberg News Now
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