
Trump confirms possible China trip, but insists ‘not seeking' Xi summit
'The Fake News is reporting that I am SEEKING a 'Summit' with President Xi of China. This is not correct, I am not SEEKING anything!' Trump wrote on Truth Social late Monday from Scotland, where he wrapped up a five-day visit Tuesday.
'I may go to China, but it would only be at the invitation of President Xi, which has been extended. Otherwise, no interest! Thank you for your attention to this matter.'
Staffers for Trump and Xi have held discussions about setting up a meeting between the two leaders, potentially on the sidelines of the annual Asia-Pacific Economic Cooperation (APEC) meeting in South Korea, which takes place Oct. 30-Nov. 1, Reuters reported last week.
It is unclear whether any discussions of Trump traveling to China directly have been broached.
3 President Trump confirmed ongoing talks with China about him meeting with leader Xi Jinping.
Xinhua News Agency via Getty Images
3 President Trump and Chinese leader Xi Jinping's last in-person meeting took place in 2019.
XinhuaTrump and Xi last met face-to-face in June 2019 on the sidelines of the G-20 summit in Osaka, Japan.
The US and China have until Aug. 12 to reach a full-fledged trade agreement following a months-long truce that has seen duties temporarily come down from up to 145% on Chinese exports to the US and 125% on American goods.
Negotiators from Washington and Beijing are holding a third round of talks this week in Stockholm.
'We have a good relationship with China,' Trump told reporters Monday at his Turnberry club on the west coast of Scotland. 'China's tough.'
In 2024, China was the third-largest US trading partner among individual nations — behind only Mexico and Canada — with trade between the two nations amounting to $582.4 billion.
Further complicating negotiations is Trump's looming threat to impose secondary tariffs of 100% against countries that trade with Moscow until the Kremlin ends its invasion of Ukraine and agrees a peace deal.
China and India, in particular, have continued to purchase energy from Russia throughout the 41-month-old war on Ukraine. China has also been accused of providing Moscow's arms industry with critical supplies.
3 The Trump administration is currently involved in trade negotiations with China.
Getty Images
Beyond trade tensions, US officials have repeatedly warned about Chinese cyber attacks, such as the Salt Typhoon operation that breached American telecommunications systems.
On Monday, the Financial Times reported that the Trump administration blocked Taiwanese President Lai Ching-te from stopping in New York City during a planned diplomatic visit to Central America later this year.
China has long claimed sovereignty over the island state of Taiwan, which has its own currency, military and government. The US adheres to the One China Policy on paper, which acknowledges Beijing's claim, but takes no position on it.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
This Popular Bond ETF Might Be Marriage Material. Here's the Best Way to Say ‘I Do.'
What do you get when you take the option collar, the options strategy I write about regularly for Barchart, and remove the covered call, arguably the least important yet most popular piece? The answer is a 'married put strategy.' And in this article, I'm going to explain why this is a good time to leave the covered call at home. In the current market environment, the exchange-traded fund (ETF) I'm focusing on might be better off without the covered call. Why? Sinking option volatility. That makes options cheaper. But since the put side of a collar is bought, cheap is good. More News from Barchart Options Traders Expected Palantir Stock's Tamest Earnings Reaction in a Year. Did They Get It Right? PayPal Maintains its Huge FCF Guidance Despite a Q2 Drop - Is PYPL Stock Too Cheap? Option Volatility And Earnings Report For Aug 4 - 8 Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase However, the call side of the options collar involves selling a covered call option. The usual motivation for that extra step is to pay for the put option that guards a stock or ETF from diving too far down. That covered call option is also somewhat inexpensive these days. And when we're talking about selling away some of our potential upside profits, in exchange for some cash flow now to reduce the cost of the puts, it doesn't make as much sense. Because the amount received for the call-writing transaction is not very much, relative to recent history. TLT: The Case for a Married Put Strategy A case in point for why a married put strategy might make more sense now than an option collar strategy is the iShares 20+ Year Treasury Bond ETF (TLT), which as shown below has an IV Rank of 15%. That means over the past 12 months, the volatility level of TLT has been higher than the current 14% level 85% of the time. This means we don't have to worry too much about volatility here. As a side note, fans of covered call ETFs should pay close attention. Given lower volatility levels, the risk management provided by covered call ETFs today is much less powerful than it has been throughout the rest of 2025. As with collars, there are many ways to approach the combination of marrying TLT shares and a TLT put option for every 100 shares owned. But the takeaway from this one example below is that I can go out to Nov. 21, and assuming I bought TLT around $88 a share, I can also buy a put struck at $88. This means that except for the cost to buy the puts, I can't end up with less than $88 a share of value… no matter what happens with interest rates or how much TLT falls. Plus, the cost to buy the puts is only $2.61 here, so about 3% of that $88 strike price. Bottom line: 3% is my worst-case loss. TLT's Upside Is Capped At…. It's Not! My upside? Unlimited through Nov. 21, with that protection in place. We have recently experienced a period in which the long end of the yield curve has been quiet and not very volatile. It is as if it is trying to make up its mind what to do. If the recent saber-rattling in Washington tips in the direction of lower rates, TLT could be a big winner. However, in an uncertain, politically charged situation like this, having relatively cheap put protection can be a valuable hedge. And as long as the covered call part of a collar is not especially attractive, this could be an opportunity to pursue unfettered upside. That's one key advantage of the married put strategy versus the collar. But if you profit from this trade… Please, no gifts for the happy couple. On the date of publication, Rob Isbitts did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23 minutes ago
- Yahoo
How Tariffs Might Be Impacting the U.S. Trade Deficit
Key Takeaways The U.S. trade deficit fell for the third month as President Donald Trump's tariff policies began taking hold. Census Bureau data showed that both imports and exports declined in June. Economists said that the recent decline mainly reflects normalization in international trade as businesses work through the imported inventory they stocked up on ahead of tariff announcements. While imports from China fell, trade from nearby countries picked up to fill the Donald Trump has said that one of the goals of higher tariffs was to close the U.S. trade deficit with other nations. So far, things appear to be moving in that direction, as the trade deficit in June declined to its lowest level in nearly two years. According to Census Bureau data released Tuesday, the U.S. trade deficit in goods and services was $60.2 billion in June, down more than 16% from May. It's the lowest trade deficit since September 2023. However, tariffs may not be affecting the trade deficit in the way some expected so far. Economists from Wells Fargo said some of the data indicate an 'unwinding of behavioral effects." After Trump unveiled his tariff plans earlier this year, businesses rushed to import products before higher import taxes could be applied, sending the trade deficit soaring. Now, with the tariffs largely set, the trade deficit is beginning to fall back to normal levels. 'Businesses pulled forward demand in Q1, resulting in a massive import surge. With a surplus of product and inventory on hand, imports fell in all three months of the second quarter, ' wrote Wells Fargo economists Shannon Grein and Tim Quinlan. Imports From China Decline, as Do U.S. Exports Still, imports of Chinese products declined by nearly 7% in June despite a trade truce that lowered tariffs. Since the start of the year, the share of imports from China has been more than cut in half, though trading with countries like Indonesia, Malaysia and Taiwan has increased, the data showed. 'Other trading partners in Asia have mostly filled the void, increasing their share by roughly the same amount,' said Matthew Martin, senior economist at Oxford Economics. While overall imports were lower by 3.7% in June, U.S. exports also took a step back. 'Exports are not poised to record strong growth going forward, but stronger foreign currencies and an opening up of foreign markets may bolster U.S. exports—though admittedly this will take time to play out,' wrote Nationwide Financial Markets Economist Oren Klachkin. Read the original article on Investopedia
Yahoo
23 minutes ago
- Yahoo
Trump says major US banks 'discriminated against me' as White House preps debanking executive order
Debanking is back in the spotlight this week after President Trump said Tuesday that the country's two largest US banks, JPMorgan Chase (JPM) and Bank of America (BAC), denied him as a customer. "The banks discriminated against me very badly, and I was very good to the banks," Trump said on CNBC's "Squawk Box," adding that "they discriminate against many conservatives." For years, Republicans have claimed that US banks have denied accounts to certain customers for political reasons. Crypto companies have warned more recently that they weren't permitted to get banking services during the Biden era. "I had hundreds of millions. I had many, many accounts loaded up with cash. I was loaded up with cash, and they told me, 'I'm sorry, sir, we can't have you. You have 20 days to get out,'" Trump said of his experience losing bank accounts with JPMorgan Chase. The president said he then went to Bank of America "to deposit a billion dollars plus" and was similarly denied. "He said, 'We can't do it,'" Trump told "Squawk Box" while also referencing pressure on banks from Washington, D.C., regulators as a key reason for why he and others have been denied banking services. "I ended up going to small banks all over the place," Trump added. The president's comments came in response to a Wall Street Journal report late Monday stating that the White House is preparing to draft a related executive order around debanking that would fine banks found discriminating against customers on political grounds. Bank of America did not immediately offer a response to Trump's comments. "We don't close accounts for political reasons, and we agree with President Trump that regulatory change is desperately needed. We commend the White House for addressing this issue and look forward to working with them to get this right," a JPMorgan spokesperson said in emailed comments. Both of these giant lenders and their CEOs have denied debanking customers on political grounds. Learn more about high-yield savings accounts, money market accounts, and CD accounts. Trump first brought visibility to the debanking issue back in January when he confronted Bank of America's Brian Moynihan about it during a live Q&A at the World Economic Forum in Davos, Switzerland. "I hope you start opening your bank to conservatives," Trump told Moynihan. The president also appeared to include JPMorgan Chase CEO Jame Dimon in his confrontation. "I don't know if the regulators mandated that because of Biden or what, but you and Jamie and everybody else, I hope you open your banks to conservatives, because what you're doing is wrong," Trump added. Two months later, the Trump Organization sued major credit card lender Capital One (COF) for allegedly debanking hundreds of its accounts following the Jan. 6, 2021, attack on the US Capitol in Washington, D.C. Bank regulators have already eliminated one element in supervision that has been pointed to as a culprit of debunking, known as reputational risk. Critics said this element of supervision was previously too subjective, allowing regulators additional room to penalize lenders for taking on customers they deemed risky. "The heart of the problem is regulatory overreach and supervisory discretion," a spokesperson for the Bank Policy Institute, a D.C. banking industry advocacy group, said in an emailed statement. "The banking agencies have already taken steps to address issues like reputational risk, and we're hopeful that any forthcoming executive order will reinforce this progress by directing regulators to confront the flawed regulatory framework that gave rise to these concerns in the first place," BPI added. Each of the bosses for these big banks has addressed the issue by also pointing a finger at regulators. "We have not debanked anyone because of political or religious relationships, period," JPMorgan's Dimon said during a podcast interview earlier this year, in which he acknowledged that debanking happens. "The reality is that if they gave us clarity from the regulatory thing and avoid the second-guessing, that would be helpful," Bank of America's Moynihan said in a CBS interview on Sunday. David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices Sign in to access your portfolio