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US Trade Representative Jamieson Greer said President Trump secured a commitment from China not to provide material support to Iran, while China's embassy reiterated its opposition to militarizing the Strait of Hormuz and its support for free navigation. The US is not seeking joint military operations with China in the region.
Container shipping costs from South Korea to the Middle East rose 22.8% in April, marking a second consecutive monthly increase amid geopolitical tensions. In response, Seoul has announced tariff exemptions on additional shipping costs for imports rerouted due to the Strait of Hormuz closure.
US President Donald Trump and Chinese President Xi Jinping are set to meet again for tea and a working lunch on Friday, the final day of Trump's state visit to Beijing. The leaders held two hours of formal talks on Thursday covering trade, fentanyl, Taiwan, Iran, Ukraine and North Korea, with Xi framing the discussions around 'constructive strategic stability.'
Australian shares are expected to open higher following a rally on Wall Street, with the S&P 500 notching another record close. Meanwhile, oil prices show mixed movements amid ongoing Middle East tensions and hopes for a peace deal, while investors also weigh US inflation data and the looming federal budget.
As the Middle East war enters its third month, the Brics grouping faces sharp internal divisions, with members Iran and the UAE at odds. Analysts argue that despite its lack of cohesion, Brics remains significant as a platform for emerging economies seeking greater autonomy in global governance.
Russian officials at the KazanForum highlighted Oman's growing role in regional logistics amid the Strait of Hormuz closure, proposing expanded trade, transport corridor development, and tourism between the two countries.
The UK Maritime Trade Operations (UKMTO) reported that a vessel was boarded by unauthorized personnel while anchored northeast of Fujairah, UAE, and is heading toward Iranian territorial waters. The vessel is believed to be the Honduras-flagged Hui Chuan fishery research vessel, and communication with it has been lost.
During their summit in Beijing, Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could lead to conflict and push bilateral relations into an 'extremely dangerous situation.' The two leaders discussed trade and other issues, but Taiwan was not mentioned in the White House's official statement, according to one report. Analysts note Xi's tougher tone, while the US reportedly avoided a explicit commitment to defend Taiwan.
At the BRICS foreign ministers' meeting in New Delhi, Iran's foreign minister called on the bloc to condemn US and Israeli attacks, and accused the UAE of direct involvement in military operations against Iran. The meeting highlighted divisions within the expanded BRICS group over the ongoing conflict.
Pakistan's Foreign Office has clarified that Chinese Foreign Minister Wang Yi's recent remarks to Deputy PM Ishaq Dar regarding mediation efforts between the US and Iran were misrepresented in media reports. The clarification comes after Xinhua reported Wang urged Pakistan to 'step up' its mediation role, while Islamabad insists the call was held with 'traditional warmth and cordiality.'
A ship was boarded by unauthorized personnel off the UAE coast and is heading toward Iranian territorial waters, the UK Maritime Trade Operations reported. Media reports identify the vessel as the Honduras-flagged Hui Chuan, a suspected floating armoury, though details remain unconfirmed.
Disruptions in the Strait of Hormuz, following US-Israeli strikes on Iran, are driving up food and fertiliser costs and could push tens of millions more people into hunger, according to UN warnings and expert analysis. Asia is particularly exposed, with heavy reliance on Gulf fertiliser exports and energy supplies.
French President Emmanuel Macron announced an international conference to be held in Paris by the end of the year to raise funds for the African Union's peace operations. The announcement came during his five-day Africa visit, where he met with AU and UN leaders and called for stronger African-led conflict resolution.
Japanese snack giant Calbee is temporarily switching to black-and-white packaging for 14 products due to shortages of naphtha, an ink ingredient, caused by the closure of the Strait of Hormuz amid the US-Iran conflict. The move highlights wider supply chain disruptions affecting Japanese businesses, including Mizkan and Toyota.
Nvidia CEO Jensen Huang joined President Trump's delegation to Beijing for a summit with President Xi Jinping, focusing on trade, tariffs, and Taiwan. The visit highlights hopes for easing US chip export restrictions to China, while financial disclosures reveal Trump invested in tech firms including Nvidia and Apple.
Slovak Parliament Deputy Speaker Tibor Gaspar accused European countries of hypocrisy for banning Russian gas imports while purchasing record volumes of LNG, as reported by TASS. Meanwhile, Russian Foreign Minister Sergey Lavrov said in an interview with RT India that Europe may be hit hardest by the Strait of Hormuz crisis and warned of heavy economic strain from switching to US LNG.
UN Secretary-General António Guterres has called for urgent reform of the UN Security Council and global financial institutions, highlighting Africa's lack of permanent representation as a historic injustice. Speaking at the AU-UN summit in Addis Ababa and at a Security Council debate, he warned of rising conflicts, erosion of international law, and the impact of the cost-of-living crisis on the most vulnerable.
Prime Minister Shehbaz Sharif called for transforming Pakistan into an economic power, speaking at a federal cabinet meeting on the anniversary of the country's 1998 nuclear tests. He paid tribute to key figures behind the nuclear program and highlighted the challenges posed by the Middle East conflict.
Hong Kong's GDP grew 5.9% in the first quarter, and the government revised its fiscal surplus to HK$11 billion. Yet, beneath the strong figures, business leaders express quiet unease over rising costs and geopolitical risks, as the IMF urges medium-term reforms.
US President Donald Trump and Chinese President Xi Jinping met in Beijing for a high-stakes summit, expressing a desire to stably manage relations while staking out positions on Taiwan and trade. Trump later took to social media to agree with Xi's assessment of US decline under his predecessor, while highlighting his own administration's achievements.