Trump and Xi Hold Summit Amid Efforts to Ease Tensions
U.S. President Donald Trump and Chinese President Xi Jinping held a summit aimed at reducing bilateral tensions, with both leaders expressing commitment to managing competition in areas like trade, technology, and AI. The meeting included discussions on establishing mechanisms for addressing AI-related risks and extending existing trade agreements until January. A state dinner followed the talks, featuring prominent U.S. tech executives but no known Chinese business representatives. Before the summit, senior negotiators from both countries held their first dedicated dialogue on artificial intelligence. Treasury yields reached multidecade highs as investors anticipated a potential Federal Reserve rate hike, overshadowing some of the optimism around the diplomatic meeting.
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