FT: Xi told Trump during their talks last week that Putin might end up regretting his invasion of Ukraine.  According to several people familiar with the US assessment of last week’s summit in Beijing, the Chinese president made the comments during wide-ranging talks that touched on Ukraine and included Trump suggesting that the three leaders should co-operate against the International Criminal Court.

“We have a pretty large deficit,” Bank of America’s commodities and derivatives research chief Francisco Blanch tells us. “We were running 14 million, 15 million barrels a day short, 14% to 15% short, of what we need to see for prices to stabilize, go down to $60 or $70 a barrel.” 

Ryanair CEO Michael O’Leary discusses the high costs of air travel in the US, the availability of jet fuel in Europe, and the potential for casualties among European airlines from higher oil prices. Watch our full interview here:

Fortune interview with President Trump says he seems resigned to the fact that he may have to wait for more cuts. “You can’t really look at the figures until the war is over,” Trump concedes.

Bessent in Paris: "We call upon all our G-7 and indeed all of our allies and the rest of the world to follow the sanctions regimes so that we can crack down on the illicit finance that is fueling the Iranian war machine and get this money back to the Iranian people."

White House Fact Sheet on Trump-Xi meeting: * US and China “should build a constructive relationship of strategic stability on the basis of fairness and reciprocity” * Both agreed “Iran cannot have a nuclear weapon, called to reopen the Strait of Hormuz, and agreed that no country or organization can be allowed to charge tolls.” * Confirmed their “shared goal to denuclearize North Korea.” * “China will address U.S. concerns regarding supply chain shortages related to rare earths and other critical minerals, including yttrium, scandium, neodymium, and indium.” * “China approved an initial purchase of 200 American-made Boeing aircraft for Chinese airlines.” * “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.” * “China restored market access for U.S. beef by renewing expired listings of more than 400 U.S. beef facilities and adding new listings.”

Axios: Some close advisers to President Trump fear the biggest substantive result of the China summit is heightened danger that Chinese President Xi Jinping will invade Taiwan in the next five years. “This trip signaled a much higher likelihood that Taiwan will be on the table in the next five years,” the adviser added.

Great view (well minus the smog) out of the Bloomberg Beijing office. Very candid and informative interview of Jamieson Greer by @annmarie. Despite the pomp and good vibes, not much substantive progress seems to have been made nor was expected going in.

China’s Ministry of Commerce has issued an update on bilateral trade talks: * Beijing and Washington will adopt a series of measures, including mutually cutting levies on certain products, to expand bilateral trade in areas including agriculture. It didn’t provide more specifics, adding that both teams are still currently negotiating over the details.  * Confirmed plans to purchase US planes without providing a number or the brand. CEOs of Boeing and GE Aerospace traveled with Trump to the summit in Beijing and met with state officials there.

Regarding US policy on Taiwan, Trump tells @BretBaier: “Nothing's changed. I will say this. I'm not looking to have somebody go independent. And, you know, we're supposed to travel 9500 miles to fight a war. I'm not looking for that. I want them to cool down. I want China to cool down.”