China and the US held a high-level trade call on Thursday, weeks before an expected summit between President Trump and Chinese President Xi Jinping. Chinese Vice Premier He Lifeng spoke with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer via video. Chinese state broadcaster CCTV described the exchanges as "candid, in-depth and constructive." The call is the clearest sign yet that both sides are actively managing the diplomatic channel between the world's two largest economies. The phrase "candid" in Chinese diplomatic language typically signals that disagreements were raised directly, while "constructive" suggests both sides left room for progress. The timing matters. Tariff tensions between Washington and Beijing have rattled global markets in recent months, and any signal of de-escalation tends to move asset prices quickly. A Trump-Xi summit, if confirmed, would be the highest-level engagement between the two governments in this trade cycle. Watch for whether a formal meeting date is announced and whether either side signals movement on tariffs or trade access ahead of that encounter.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
