Trump and Xi seal a trade deal; both call to reopen the Strait of Hormuz.
Washington’s account of the Beijing visit lands as one document, written to be banked as a win. The trade haul is itemized and dated; the security wins — a reopened Strait of Hormuz, an Iran kept from the bomb — read as shared goals the summit announced but did not deliver.
Day 5 · Trump–Xi summit Day 80 · Iran war Year 5 · Ukraine war
Voices
“Both leaders 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.”
White House Fact Sheet · May 151
“President Trump has pledged that anyone who hurts Americans, or is planning to hurt Americans, will be found and held accountable.”
State Dept. Media Note · May 152
“The GENIUS Act establishes a regulatory framework for Payment Stablecoins and provides pathways for regulation at both the Federal and State level.”
NCUA, Stablecoin Rulemaking · May 183
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“Foreign holdings of U.S. financial assets are immense, with official estimates putting their current market value at $69 trillion.”
Higgins & Klitgaard, NY Fed Liberty Street · May 184
“E.O. 14300 requires the NRC to undertake a review and wholesale revision of its regulations and guidance documents.”
NRC, Byproduct-Material Rule · May 185
“[The Fish and Wildlife Service has been asked] to issue regulations facilitating the authorization of incidental, unintentional take of small numbers of polar bears during seismic exploration activities on the North Slope of Alaska.”
U.S. Fish & Wildlife Service · May 188
Events
- U.S.–China summit. The first U.S. presidential visit to China since 2017 produced a pledge of “strategic stability,” two new bilateral trade-and-investment boards, and a joint call to reopen the Strait of Hormuz. Xi visits Washington this fall.1May 14–15 · WH
- Rare earths and Boeing. China agreed to ease rare-earth and critical-mineral export limits, approved an initial 200 Boeing jets — its first U.S. aircraft order since 2017 — and committed to $17 billion a year in U.S. farm purchases through 2028.1May 14–15 · WH
- Al-Saadi arrest. Mohammad Baqer Saad Dawood Al-Saadi — accused of directing others to attack U.S. interests, including by killing Americans — is now in U.S. custody and will face justice, the State Department said.2May 15 · State
- Stablecoin rule. The National Credit Union Administration proposed regulations letting federally insured credit unions’ subsidiaries issue dollar-pegged stablecoins, implementing the 2025 GENIUS Act; comments close July 17.3May 18 · NCUA
- America’s external balance sheet. A New York Fed analysis put foreign holdings of U.S. assets at $69 trillion against $41 trillion held abroad — a net deficit near 90% of GDP — as the long-running U.S. investment-income surplus fades.4May 18 · NY Fed
- NRC overhaul. The Nuclear Regulatory Commission proposed easing licensing rules for radioactive byproduct material, part of the wholesale deregulation that President Trump’s reform order requires the agency to complete by November.5May 18 · NRC
- Tailpipe standards. EPA proposed delaying its strictest tier of car and truck pollution limits by two model years, extending current standards through 2028 before the tougher rules phase in.6May 18 · EPA
- Coal-plant wastewater. A second EPA proposal would roll back 2024 Clean Water Act limits on leachate from coal-power-plant waste, cutting industry compliance costs by an estimated $446 million to $1.1 billion a year.7May 18 · EPA
- North Slope oil search. The Fish and Wildlife Service proposed letting a survey firm disturb small numbers of polar bears during five years of seismic oil-and-gas exploration on Alaska’s North Slope.8May 18 · FWS
Allied Governments
- RAF anti-drone weapon. Britain deployed a new low-cost laser-guided missile on RAF Typhoon jets in the Middle East, moving it from testing to operations in under two months to counter drone attacks.aMay 16 · UK MoD
- Red Arrows U.S. tour. The RAF aerobatic team will perform at 13 events across seven U.S. states this summer, and Royal Navy ships will join celebrations marking 250 years of American independence.bMay 18 · UK MoD
- Japan–Brazil consular pact. Foreign ministers Motegi and Vieira signed a memorandum to share information and coordinate assistance for each country’s nationals abroad during crises.cMay 18 · Japan MoFA
Sources
- White House, “Fact Sheet: President Donald J. Trump Secures Historic Deals with China, Delivering for American Workers, Farmers, and Industry,” May 2026. whitehouse.gov/fact-sheets/…/historic-deals-with-china
- U.S. Dept. of State, “Welcoming the Arrest of Mohammad Baqer Saad Dawood Al-Saadi,” May 15, 2026. state.gov/releases/…/arrest-of-al-saadi
- Federal Register, “Implementing the GENIUS Act for the Issuance of Stablecoins by Entities Subject to NCUA Jurisdiction” (National Credit Union Administration, supplemental proposed rule), May 18, 2026. federalregister.gov/…/ncua-stablecoin-issuance
- Federal Reserve Bank of New York, “Honey, Who Shrunk the U.S. Income Surplus?” Liberty Street Economics, May 18, 2026. libertystreeteconomics.newyorkfed.org/…/u-s-income-surplus
- Federal Register, “Modernizing NRC Regulations for Byproduct Material Use” (Nuclear Regulatory Commission, proposed rule), May 18, 2026. federalregister.gov/…/modernizing-nrc-byproduct-material
- Federal Register, “Revision of Tier 4 Criteria Pollutant Standards, Part 1: Amendments to Phase-In Schedule for Light-Duty and Medium-Duty Vehicles” (Environmental Protection Agency, proposed rule), May 18, 2026. federalregister.gov/…/tier-4-criteria-pollutant-standards
- Federal Register, “Effluent Limitations Guidelines and Standards for the Steam Electric Power Generating Point Source Category” (Environmental Protection Agency, proposed rule), May 18, 2026. federalregister.gov/…/steam-electric-effluent-guidelines
- Federal Register, “Marine Mammals; Incidental Take of Polar Bears in the Southern Beaufort Sea; Seismic Exploration Activities by SAExploration, Inc.” (Fish and Wildlife Service, proposed rule), May 18, 2026. federalregister.gov/…/polar-bears-seismic-exploration