Trump’s first visit to China since 2017 opened Thursday at the Great Hall of the People. Xi opened by asking whether the two powers could avoid the “Thucydides Trap” — the historical pattern where a rising power and a ruling power end up at war. On the agenda through Friday: tariffs, rare earth minerals, AI chips, Taiwan, and the Iran war. US officials privately worry Xi walks in with the leverage.
🇨🇳 TRUMP-XI SUMMIT — DAY 1
XI: TAIWAN IS THE “MOST IMPORTANT” ISSUE — MISHANDLING IT GETS “DANGEROUS”
In opening remarks carried by Chinese state broadcaster CCTV, Xi Jinping told Trump that Taiwan — the self-governing island Beijing claims as its territory — is the single most important issue in US-China relations, and that mishandling it would push the relationship to a “dangerous” place. Taiwan’s ruling party rejects Beijing’s territorial claim.
CHINA’S “BREAK-GLASS” TOOL: 70%+ OF THE WORLD’S RARE EARTHS
Rare earths — 17 metals essential to fighter jets, EVs and electronics — are China’s dominant leverage. Beijing processes the overwhelming majority of global supply. When Xi threatened to restrict exports in April and October 2025, Trump backed down rather than escalate. The US has since spent billions trying to build alternative supply chains, with limited results so far.
THE “SHRINKING SUMMIT”: TRUMP ARRIVES HOLDING FEW CARDS
Trump traveled with a dozen-plus CEOs including Apple’s Tim Cook, Tesla’s Elon Musk and — added at the last minute after a personal call from Trump — Nvidia’s Jensen Huang, who boarded Air Force One during an Anchorage refueling stop. One of Trump’s priorities, per CNN: pressing Xi to help reopen the Strait of Hormuz, the Iran-blockaded passage carrying 20% of the world’s oil.
📰 SOURCES
🤝 NETANYAHU’S SECRET GULF TRIP
NETANYAHU SECRETLY VISITED THE UAE DURING THE IRAN WAR
Israeli Prime Minister Benjamin Netanyahu’s office confirmed Wednesday that he made a secret visit to the United Arab Emirates and met President Mohammed bin Zayed (known as MBZ). A source told Reuters the meeting took place in Al-Ain, an oasis city near the Oman border, on March 26 and lasted several hours.
“HISTORIC BREAKTHROUGH” — OR PROPAGANDA? THE UAE FLATLY DENIES IT
Netanyahu’s office called the trip a “historic breakthrough” in Israel-UAE relations. But the UAE’s state news agency WAM rejected the claim outright, calling it “entirely unfounded” and stressing its ties with Israel — built on the 2020 Abraham Accords — “are not based on secrecy or clandestine arrangements.” Iran said it already knew of the visit and renewed threats against the UAE.
ISRAEL SENT IRON DOME WEAPONS AND CREWS TO THE UAE
The announcement came a day after US Ambassador to Israel Mike Huckabee revealed that Israel had sent Iron Dome air-defense systems — and the personnel to operate them — to the UAE. During the war, Iran fired some 2,800 missiles and drones at the Emirates, making it the most-targeted country in the region.
⚔️ IRAN — REBUILDING FAST
TEHRAN HAS ALREADY RESTORED MOST OF ITS MISSILE LAUNCH SITES
Despite US claims that the regime is “combat-ineffective,” Iran has rapidly rebuilt most of its missile launch sites, according to The Telegraph. US intelligence separately assessed this week that Iran retains substantial ballistic-missile capabilities — undercutting the narrative that the February-March strikes neutralized the threat.
PRO-IRAN HACKERS CLAIMED A REVENGE ATTACK ON SPOTIFY
A pro-Iran group calling itself the Islamic Cyber Resistance in Iraq — 313 Team claimed a DDoS attack (a flood of traffic designed to overload servers) on Spotify, citing “revenge” for the killing of Ayatollah Khamenei. Downdetector logged thousands of user reports of the music service going down.
📰 SOURCES
📉 INFLATION — 4-YEAR HIGH
WHOLESALE PRICES JUMP 6% — BIGGEST SPIKE SINCE 2022
The Producer Price Index (PPI) — wholesale prices paid by businesses, an early warning sign for consumer inflation — rose 6% year-on-year in April, the largest jump since December 2022. The monthly gain of 1.4% nearly tripled the 0.5% economists expected. Source: Bureau of Labor Statistics.
GASOLINE SURGED 15.6% IN A SINGLE MONTH
Three-quarters of the goods-price gain came from energy, led by a 15.6% jump in gasoline as the Iran war pushed oil higher and pump prices past $4/gallon. The Federal Reserve has held its benchmark rate at 3.5%-3.75%; after the PPI report, market-implied odds of a rate hike climbed to about 39%.
CORE INFLATION HITS 4.4% — THE PAIN IS SPREADING BEYOND GAS
“Core” PPI — which strips out volatile food and energy — still rose 4.4% year-on-year, the steepest since February 2023, showing price pressure is broad-based, not just an oil-pump story. Economists now expect consumer inflation (CPI) to top 4% in next month’s report, which would be the highest since May 2023.
🇬🇧 STARMER CLINGS ON
STREETING SET TO RESIGN AND CHALLENGE STARMER FOR THE LEADERSHIP
UK Health Secretary Wes Streeting is reportedly preparing to quit the government as early as Thursday to trigger a Labour leadership contest. He spent just 16 minutes in talks with Prime Minister Keir Starmer at Downing Street on Wednesday. An ally told The Times: “He is going for it. He’s going tomorrow.”
OVER 90 LABOUR MPs WANT HIM GONE — BUT 100+ SIGNED TO BACK HIM
More than 90 of Labour’s roughly 400 MPs have called on Starmer to quit; four junior ministers have already resigned, including Jess Phillips. But over 100 backbenchers signed a counter-pledge of support. A leadership challenge needs 81 MPs (20% of the party) to formally trigger it.
KING’S SPEECH OVERSHADOWED — 4 PMs IN 4 YEARS?
The turmoil overshadowed the State Opening of Parliament, where King Charles III read Starmer’s security-heavy legislative agenda from a golden throne. If Starmer falls, Britain would be on track for its fourth prime minister in four years. Other potential rivals: Angela Rayner and Andy Burnham.
📰 SOURCES
Every fact checked. Every source named. · NOOWW © 2026
