Trump Headed to Beijing, Repeats War Threats Against Iran, 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. All right, Alexis, and 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. President Trump says this trip primarily is about trade, but he'll also be talking about the war with Iran with President Xi, something he acknowledged it's going to be very difficult to avoid.
He's been very nice about this. You know, in all fairness, he gets like 60 percent of his oil from hormones. And he's been I think he's been very respectful. We haven't been challenged by China. They don't challenge us.
Well, the president is traveling with more than a dozen CEOs. The lineup includes Elon Musk and Nvidia CEO Jensen Huang, who was a last minute addition. Trump wants China to ink some trade deals to buy American planes. Agriculture and energy and artificial intelligence discussions may also be on the agenda. Beijing wants, among other things, a longer tariff truce. And Chinese President Xi may 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.
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 Jumaane Bersachi 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 thorny 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 Bersetchi 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 reports from Washington.
Hegseth softened his tone from previous congressional hearings as he defended the historic military budget request for 2027. House Appropriations Subcommittee Ranking Member Minnesota Democrat Betty McCollum asked Hegseth if the Pentagon has a plan B.
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