Trump hosted Xi for tariff and coal deals and signed a Greenland basing agreement.
Xi Jinping made a state visit to the White House, the first in more than a decade, and the two sides agreed tariff relief on $30 billion of goods in each direction plus Chinese purchases of at least 10 million metric tons of U.S. coal in 2027 and 2028. Two days earlier, the U.S. signed an agreement with Denmark and Greenland granting permanent American basing rights on the island and barring adversary military presence there without U.S. approval. Much of the rest ran through the U.N. General Assembly, where the administration signed minerals and energy agreements with Italy and Argentina and joined 14 Western Hemisphere governments in freezing assets tied to 24 cartel groups.
Threads at week's end
Iran produced no new battlefield action in the week's U.S. record. Rubio said the southern lane of the Strait of Hormuz is clear of mines and transit is rising daily, with U.S. gasoline near $4.45 a gallon and diesel at a record. Trump told the General Assembly Iran will never be allowed a nuclear weapon, and the joint language from the Xi visit repeated the line. The China trade arc moved two ways at once. The state visit produced tariff relief and coal purchases, while Commerce advanced dumping cases against Chinese tin mill products and graphite electrodes. Canada policy ran in both directions as well: a memorandum moved to strip Canadian goods from federal civil procurement on September 21, and a proclamation suspended retaliatory duties two days later. Trade ministers from the Group of 20 meet in Milwaukee from September 29.
The week's bullets
- Xi at the White House. The first Chinese state visit in more than a decade produced tariff relief on $30 billion of goods in each direction and Chinese purchases of at least 10 million metric tons of U.S. coal in 2027 and 2028. The two governments also agreed Iran can never have a nuclear weapon and that no country or institution may impose tolls on international waterways. Trump pressed Xi to raise refined-petroleum output. (Sept. 26–27 briefs.)1Sep 25 · WH
- Permanent Arctic basing. Trump signed an agreement with Denmark and Greenland on September 22 granting the United States permanent basing rights on the island and barring any U.S. adversary from a base, military presence or sensitive investment there without American approval. The signing followed Rubio's meeting a day earlier with eight Arctic foreign ministers, who agreed the region needs sovereign military capability and resilient critical infrastructure. (Sept. 22–23 briefs.)2Sep 22 · WH
- Andes-Atlantic Corridor. The United States and Argentina launched a corridor on September 23 directing U.S. financing into rail, ports, pipelines and power that carry Vaca Muerta oil and gas and critical minerals to Atlantic markets. It was one of three resource deals in the week: a critical-minerals memorandum with Italy on September 21, and a U.S.–Japan–Korea plan to speed small modular reactor exports, behind a consortium promising $150 billion in European reactor investment. (Sept. 23–24 briefs.)3Sep 23 · State
- Shield of the Americas. The United States and 14 Western Hemisphere governments announced on September 22 asset freezes, visa restrictions and criminal liability for supporters of 24 narco-terrorist organizations, and said they would ask the Organization of American States to convene the region's mutual-defense treaty. Trump told the General Assembly the same day that strikes on cartel boats had destroyed 97 percent of drugs arriving by sea. (Sept. 23 brief.)4Sep 22 · State
- U.S. enters a European court. The Justice Department filed on September 24 to intervene at the European Union's General Court supporting X Corp. and Elon Musk's bids to annul a €120 million digital-services fine, the first U.S. intervention in that court. It landed in the same week the trade office held a hearing on Germany's drug pricing and opened a labor case against a Yokohama tire plant in Mexico. (Sept. 25–26 briefs.)5Sep 24 · DOJ
- Stablecoin framework. The Federal Reserve Board proposed on September 24 that Board-supervised stablecoin issuers fully back their coins with short-term Treasury bills and other high-quality liquid assets, and set capital, risk-management and application standards under the GENIUS Act stablecoin law. Comments close in 60 days. Treasury's sanctions office made a parallel consolidation the same week, folding enforcement procedures and civil penalties for every U.S. sanctions program into one new part of its regulations. (Sept. 25–27 briefs.)6Sep 24 · Fed
- External balance. The current-account deficit widened by $33.4 billion, or 15.7 percent, to $246.0 billion in the second quarter, 3.0 percent of output, and the net international investment position fell to negative $22.42 trillion, Commerce reported September 24. The figures arrived as the administration agreed easier tariff treatment for $30 billion of goods each way with China, moved to strip Canadian goods from federal procurement, and advanced dumping cases on Chinese tin plate and graphite electrodes. (Sept. 25–26 briefs.)7Sep 24 · BEA
Voices of the week
“They agreed that Iran can never have a nuclear weapon and that no country or institution can be allowed to impose tolls on international waterways.”
White House fact sheet on the China state visit · Sep 251
“[T]here is a southern lane in the Straits of Hormuz. Our military has worked very hard to clear it. It's clear of mines.”
Sec. of State Marco Rubio, NBC News · Sep 222
“We will not tolerate the European Commission engaging in regulatory overreach to try and control American engines of innovation and economic growth.”
AAG Brett A. Shumate, DOJ Civil Division · Sep 243
Three more voices
“Economic growth is strong and the labor market is solid, but inflation is above our 2 percent target and not clearly trending toward target in a timely way.”
Gov. Michael S. Barr, Federal Reserve Board · Sep 234
“Anduril's Fury and General Atomics' Vengeance deliveries show we can move at incredible speed, compete, and deliver cost-effective combat power to the force.”
Sec. of the Air Force Troy Meink · Sep 245
“My Administration will always act to combat such unreasonable or discriminatory practices.”
Presidential Memorandum, Restoring Reciprocity in Government Procurement · Sep 216
Daily briefs this week