Xi Arrives for Summit with Trump, Judge Lifts Media Ban, More

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Why did President Xi’s state visit to Washington spark a new trade extension?

Randall Williams 0:01
Follow the money in the world of sports every week on the Bloomberg Business of Sports podcast. Hello, I'm Randall Williams. Join Michael Barr, Vanessa Perdomo, Maglione, and me as we take you inside the deals, decisions, and innovations that power this multi-billion dollar industry. Plus, we'll speak with executives, athletes, and visionaries that are transforming sports across the globe. Subscribe to the Bloomberg Business of Sports podcast on Apple, Spotify, or anywhere you listen.
Nathan Hager 0:31
News when you want it with Bloomberg News Now. I'm Nathan Hager.
Karen Moskow 0:35
And I'm Karen Moscow.
Nathan Hager 0:37
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 Besant announced it on Fox News.
Scott Bessent 0:52
We have agreed today that we will extend what we call the Busan Agreement, the 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
Nathan Hager 1:12
economic front. Again, that was Treasury Secretary Scott Besant on Fox News.

How did President Trump’s airport greeting of Xi differ from past diplomatic protocols?

Nathan Hager 1:17
Bloomberg News China reporter Colin Murphy reports that limited extension could be disappointing to both sides.
Unknown 1:22
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.
Nathan Hager 1:39
Still, Bloomberg's Colin Murphy reports the two-month extension will cover two world leader summits in Shenzhen, China and Miami when both Presidents Trump and Xi could meet again.
Karen Moskow 1:48
Well, Nathan, this week's meeting kicked off with a rare honor for President Xi, a personal greeting from President Trump.
Karen Moskow 2:02
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 formal welcome later this morning at the White House.
Nathan Hager 2:20
And then tonight, Karen, President Trump hosts she 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 Ferry's in Washington.
Bill Ferris 2:39
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.

What businesses and tech leaders attended the state dinner and why does it matter?

Bill Ferris 2:49
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.
Nathan Hager 3:00
Bloomberg's Bill Ferrys reports President Xi did not bring his own business delegation, and that's dampening hopes for any major deals to come out of this summit.
Karen Moskow 3:08
Well, Nathan, the United Nations General Assembly continues in New York, and 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
Unknown 3:22
had prepared a speech to present to you yesterday. The United States President described us as terrorists. We have been the victims of terrorism.
Karen Moskow 3:37
And speaking through an interpreter, Iranian President Massoud Pesachian told the U.N. 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.
Marco Rubio 3:52
I don't know what standing Iran has to lecture anyone on human rights or the international system when they habitually violate it.

Why did President Xi’s lack of a business delegation dampen deal expectations?

Marco Rubio 3:58
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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