Trump–Xi Talks Begin as Markets Focus on Tariffs, Iran, and Taiwan

Tense negotiations between U.S. President Donald Trump and Chinese President Xi Jinping have officially begun in Beijing.

Xi Jinping told Trump that China and the United States should be “partners, not rivals,” presenting the nearly two-hour summit as an opportunity to reset one of the world’s most important bilateral relationships.

Trump responded in a similarly warm tone, calling Xi a “great leader” and stating that relations between the two countries would become “better than ever.” Markets had positioned cautiously ahead of the summit throughout the week.

Crypto Markets Decline Amid Ongoing Macro Uncertainty

Bitcoin traded near $79,761, down 1.57% over the past 24 hours, while the broader cryptocurrency market capitalization fell 1.52% to $2.66 trillion.

Ethereum dropped to $2,267, while XRP remained relatively stable at $1.42, down 1.76% for the day.

The Fear & Greed Index stood at 47, remaining in neutral territory and reflecting market anticipation rather than aggressive positioning.

Oil Markets Await Signals from Beijing

Oil markets remained in wait-and-see mode as traders looked for concrete outcomes from the Trump–Xi summit.

Brent crude prices stayed elevated as disruptions around the Strait of Hormuz continued to affect markets.

The International Energy Agency (IEA) once again lowered its global oil demand forecast for 2026. The agency now expects demand to decline by 420,000 barrels per day year-over-year, while supply disruptions since February have totaled 12.8 million barrels per day.

U.S. commercial crude inventories declined by 4.31 million barrels last week. Gasoline inventories also fell by 4.1 million barrels as refineries increased utilization ahead of the summer driving season.

Copper Nears Record Highs

Outside the oil market, copper continued climbing above $14,000 per ton, trading close to the all-time high of $14,527 set in January.

Tight refined metal supplies, resilient Chinese spot demand, and limited sulfur availability in the Middle East continued supporting prices.

Speculative net-long copper positions increased for a second consecutive week, reaching their highest level since December 2025.

What Markets Expect from the Summit

Markets entered the Beijing negotiations hoping for progress in three critical areas:

• tariff negotiations;
• developments regarding Iran;
• stability surrounding Taiwan.

The warm opening tone of the summit was viewed as a better start than many market participants had expected.

Whether the talks deliver concrete outcomes beyond diplomatic optimism will determine whether recent market caution begins to ease — or intensifies further throughout May.

See also: "Bank of England to Reconsider Stablecoin Restrictions"

#China #USA

Share: