Trump to press Xi on Iran energy ties as China gains global clout

  • Trump and Xi are meeting in Washington for wide-ranging talks, including China’s energy ties with Iran.
  • A global oil benchmark reached about $100 a barrel on Tuesday as the Iran war lifted energy and commodity prices.
  • China has built large oil stockpiles and expanded petroleum, solar-panel and electric-vehicle exports.

President Donald Trump is meeting Chinese President Xi Jinping in Washington for wide-ranging talks and plans to press him over China’s energy relationship with Iran, although analysts and executives expect limited progress. The war in Iran has pushed global energy and commodity prices higher, with a global oil benchmark near $100 a barrel on Tuesday, while creating political pressure for Trump and his party. China, the primary buyer of Iranian and Venezuelan crude, has used its purchasing power to build large oil stockpiles and become a major regional supplier of petroleum products. Its expanding solar-panel and electric-vehicle exports are reinforcing its position as an energy and technology power. The Trump administration says continued business with Iran will bring consequences while seeking to shift Chinese oil and gas purchases toward Russia and the United States, but China has largely halted direct purchases of U.S. natural gas and crude oil, even as fuel purchases from U.S. refiners have recovered in recent months.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.