China Morning Missive Well, we just witnessed the opening salvo between Trump and Xi and it very much looks like the parties are both trying to play nice. The fact remains that all details of whatever will be ultimately decided in the now closed-door talks were agreed to in advance of this meeting. The Chinese so far are the only party where it is known what will be delivered. A suspension of the rare earth export controls and a meaningful purchase of soybeans top that list. It is also expected that a final agreement, signed agreement, for TikTok will also occur later today. Where focus needs to be centered now is on what it is the American side provided as deliverables. There seems to be a great deal of attention being paid to Nvidia selling Blackwell chips to China. I just don’t see that as even remotely possible. Given the Beltway blowback on the approval of H20 chips several months ago would mean an even greater upheaval in Washington if Blackwell chips were, ultimately, traded for agriculture and a social media platform. Then again, I could be wrong. For myself, it is all about Taiwan. While there won’t be any substantive agreement reached on the issue, I an expecting Trump to come out after the meeting where he will raise the Taiwan issue and do so in a way that will be viewed positively by Beijing. Just not sure of the wording which will be used. Will need to wait another hour or so when, as is typical, Trump will meet with the media. No joint press conference though.

The Straits Times

Xi says US, China ‘should be partners and friends’ as he meets Trump in South Korea

Mr Trump has repeatedly expressed optimism about reaching agreement with Mr Xi during the talks. Read more at straitstimes.com. Read more at strait...