Dow Jones Climbs as Trump-Xi Summit Kicks Off

The Dow Jones (DJIA) is set to open Thursday in the green after President Trump met with Chinese President Xi Jinping in Beijing for the first day of their summit.

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During a two-hour-and-15-minute meeting, the two leaders discussed economic cooperation, opening up China to U.S. businesses, and the war in Iran. Both countries agreed that the Strait of Hormuz should be opened, with Xi adding that he opposed the militarization of the waterway and a toll-based system to use it.

Xi Seeks U.S. Oil While Flagging Taiwan as Key Risk

Furthermore, Xi expressed interest in increasing China’s purchases of U.S. oil in order to reduce dependence on Hormuz. In addition, both Trump and Xi agreed that Iran should never have access to a nuclear weapon.

Absent from the U.S. readout of the meeting was any mention of Taiwan. However, Xi warned that any disagreement over the island could result in “clashes and even conflicts, putting the entire relationship in great jeopardy.” Xi stressed that Taiwan is the “most important issue” between the U.S. and China.