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Trump has completed a three-day visit to Beijing. As a result, he announced "fantastic trade deals" and "important agreements." Xi Jinping called on Washington to implement the agreements. There are no specifics on the removal of 145% duties. The trade truce continues until October 2026.

Iran began to allow part of the Chinese ships through the Strait of Hormuz, the Iranian Fars news agency reported on May 15. Trump lifted the two-day blockade of the strait after the first round of talks with Xi Jinping. About 20% of the world's oil and LNG supplies pass through Hormuz. For cargo carriers and importers whose routes are linked to the Persian Gulf, this is a pause in the most acute episode of the crisis.

On May 14, in Beijing, Donald Trump and Xi Jinping held their first talks on Chinese territory in nine years. The meeting lasted more than two hours and was held behind closed doors. Trump called her "excellent." There are no breakthrough agreements, 145% duties remain frozen until October. But the fact that the negotiations took place at all is already a signal for the markets.