Trump En Route to Beijing, Iran War Enters 75th Day, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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News when you want it with Bloomberg News Now. I'm Karen Moscow. And I'm Alexis Christophorus. Here are the stories we're following today.
Alexis, President Trump is set to land in Beijing later today for a highly anticipated summit with Chinese leader Xi Jinping. Bloomberg's John Tucker joins us with the very latest. John, good morning.
Good morning, Karen. Before leaving for Beijing, Mr. Trump was asked, what is his message to President Xi about the war with Iran?
Well, I think, number one, we're going to have a long talk about it. I think he's been relatively good, to be honest with you. You look at the blockade, no problem.
they get a lot of their oil from that area we've had no problem and he's been a friend of mine he's been somebody that we get along with while the president would prefer to focus on trade he can't escape the war and its impact on the world economy the president is traveling with more than a dozen ceos that lineup includes elon musk and nvidia ceo jensen wong who was a last-minute addition to the trip He wants China, the president, to ink some trade deals to buy American planes, agriculture, and energy. And artificial intelligence discussions may also be on the agenda. Beijing, for its part, wants, among other things, a longer tariff truce. And President Xi may also try to test the U.S. commitment to Taiwan and seize on any sign of wavering from a president who doesn't necessarily like to stick to the script.
I'm John Tucker, Bloomberg Radio.
All right. Thanks, John. And as the president embarks on his China trip, the war in Iran now enters its 75th day. As Bloomberg Middle East reporter Jumana Bersetchi reports, many, including the president, thought the conflict would be over by now.
One of the reasons that President Trump pushed back this trip in the first place by, I think it's six weeks or so, was because of the conflict that was going on in the background. And so the hope probably from his perspective was that it would be all wrapped up and ready and behind him so that he could approach this meeting with Xi Jinping and address other thornier topics. Iran situation is still very much a live situation. I mean, we talk about the ceasefire, even though President Trump has described it as being in a very fragile state. Ultimately, the Strait of Hormuz is still effectively closed. China so far have not played an active role in either military operations or in diplomacy. But in the past couple of weeks, they seem to be flexing a bit more muscle.
And the expectation is that China will call for de-escalation.
Bloomberg's Jumana Berset, she says, according to satellite images, oil shipments from Iran's main export terminal, Karg Island, appear to have come to a standstill over the past several days.
Well, Alexis, Defense Secretary Pete Hegseth returned to Capitol Hill to defend the Pentagon's $1.5 trillion budget request. And Bloomberg's Amy Morris has more from Washington.
Hegseth softened his tone from previous congressional hearings as he defended the historic military budget request for 2027.
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