{"id":61924,"date":"2026-05-14T06:38:18","date_gmt":"2026-05-14T10:38:18","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-xi-summit-yields-trade-progress-as-bessent-forecasts-lower-oil-and-boeing-deals\/61924\/"},"modified":"2026-05-14T06:38:18","modified_gmt":"2026-05-14T10:38:18","slug":"trump-xi-summit-yields-trade-progress-as-bessent-forecasts-lower-oil-and-boeing-deals","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-xi-summit-yields-trade-progress-as-bessent-forecasts-lower-oil-and-boeing-deals\/61924\/","title":{"rendered":"Trump-Xi Summit Yields Trade Progress as Bessent Forecasts Lower Oil and Boeing Deals"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. and China negotiate a $30 billion trade carve-out<\/strong> for non-critical goods as President Trump describes discussions in Beijing as &quot;extremely positive and constructive.&quot;<\/li>\n<li><strong>Treasury Secretary Scott Bessent predicts oil prices will &quot;come down quickly,&quot;<\/strong> citing a lower price curve over the next six months and increased Chinese energy purchases.<\/li>\n<li><strong>Chinese vessels have begun transiting the Strait of Hormuz<\/strong> following a new understanding with Iran, a move Bessent claims will benefit global trade stability.<\/li>\n<li><strong>Boeing (<a href=\"\/stock\/BA\">BA<\/a>) is expected to receive &quot;large orders&quot; from China<\/strong> as part of the warming trade relations signaled during the high-level state visit.<\/li>\n<li><strong>UK Prime Minister Keir Starmer faces a leadership crisis<\/strong> amid reports of a potential challenge from Wes Streeting and rumors of cabinet-level pressure to resign.<\/li>\n<\/ul>\n<h2>U.S.-China Relations and Trade Breakthroughs<\/h2>\n<p>President Trump characterized his state visit to Beijing as a major success, thanking President Xi Jinping for a &quot;magnificent welcome&quot; during a state banquet on Thursday. <strong>Treasury Secretary Scott Bessent<\/strong> revealed that both nations are working on a framework where each side can designate <strong>$30 billion for goods in non-critical areas<\/strong>, signaling a tactical de-escalation in trade tensions.<\/p>\n<p>Bessent also highlighted that China is expected to significantly increase its purchases of U.S. energy products. Furthermore, the Treasury Secretary expressed optimism regarding the aerospace sector, stating he expects <strong>Boeing (<a href=\"\/stock\/BA\">BA<\/a>)<\/strong> to secure substantial new aircraft orders from Chinese carriers in the near future.<\/p>\n<p>In a separate development, <strong>Tesla (<a href=\"\/stock\/TSLA\">TSLA<\/a>)<\/strong> CEO Elon Musk also met with President Xi during the summit. Musk described the meeting as &quot;awesome,&quot; though specific details regarding Tesla\u2019s expansion or regulatory hurdles in China were not immediately disclosed.<\/p>\n<h2>Energy Markets and the Strait of Hormuz<\/h2>\n<p>The global energy outlook shifted as <strong>Treasury Secretary Bessent<\/strong> forecasted that oil prices would &quot;come down quickly&quot; and see a lower curve within six months. This sentiment coincides with reports that <strong>OPEC+<\/strong> delegates intend to continue with small monthly production increases to finalize a set of previously agreed-upon quota hikes.<\/p>\n<p>Geopolitical tensions in the Middle East showed signs of localized easing as <strong>Iran&#39;s Fars News<\/strong> reported that Chinese vessels began transiting the <strong>Strait of Hormuz<\/strong> yesterday. This follows an &quot;understanding&quot; regarding Iran&#39;s management protocols of the waterway, a development Bessent noted would provide significant economic benefits to China and the broader region.<\/p>\n<p>However, regional stability remains fragile as <strong>Iran&#39;s Araqchi<\/strong> urged the UAE to reexamine its alliance with Israel. Meanwhile, the <strong>IDF<\/strong> reported that an explosive drone launched by Hezbollah struck northern Israel earlier today.<\/p>\n<h2>Corporate Earnings and Industrial Developments<\/h2>\n<p><strong>Singapore Airlines (<a href=\"\/stock\/C6L\">C6L<\/a>)<\/strong> reported a full-year net income of <strong>S$1.18 billion<\/strong>, surpassing analyst estimates of S$1.08 billion. The airline&#39;s strong performance reflects a continued recovery in regional travel demand despite broader economic headwinds.<\/p>\n<p>In the automotive sector, <strong>Renault (<a href=\"\/stock\/RNO\">RNO<\/a>)<\/strong> CEO Luca de Meo ruled out larger partnerships to boost growth, focusing instead on internal efficiencies. Simultaneously, <strong>China&#39;s Industry Ministry<\/strong> vowed to punish EV manufacturers that violate safety rules, following a high-level meeting on strengthening the safety management of new energy vehicles.<\/p>\n<h2>UK Political Turmoil and Global Geopolitics<\/h2>\n<p>In London, Prime Minister Keir Starmer is facing intense internal pressure as rumors circulate that cabinet ministers may tell him to step down as early as today. While <strong>Wes Streeting<\/strong> is reportedly weighing a leadership challenge, his team remains uncertain if he has secured the <strong>81 supporters<\/strong> required to formally launch a contest.<\/p>\n<p>On the international front, the <strong>Kremlin<\/strong> announced that President Vladimir Putin\u2019s trip to China is imminent, with preparations now complete. In Ukraine, President Zelenskiy reported that <strong>Russia attacked a UN vehicle<\/strong> with drones twice on Thursday in the Kherson region, highlighting the ongoing risks to international aid operations in the conflict zone.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. and China negotiate a $30 billion trade carve-out for non-critical goods as President Trump describes discussions in 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