Trump Hails Iran Talks; Trump Welcomes Xi to Washington

SPEAKER_1 (0:02)

Bloomberg Audio Studios, podcasts, radio, news.

Nathan Hager (0:10)

Good morning, I'm Nathan Hager.

Karen Moskow (0:11)

And I'm Karen Moskow. Here are the stories we're following today.

Nathan Hager (0:15)

Karen, we begin with the push for diplomacy between the US and Iran. President Trump says his envoys, Steve Witkoff and Jared Kushner, held very good talks with mediators. The president says they spoke for three hours and another session is being planned in the near future. This came hours after President Trump issued serious threats against Tehran at the UN General Assembly.

Donald Trump (0:36)

I have a big decision to make. Will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before? Maybe one of the greatest in the Middle East or even the world?

Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people and countries again?

Nathan Hager (1:02)

President Trump at a UN General Assembly speech heard live on Bloomberg Radio. We get more from Bloomberg's Balash Pens.

Balash Pens (1:08)

This was not the first time the US position, especially President Trump's position, has oscillated between promises of an impending deal and rather bellicose threats. But it was a bit startling to see that happen in such a short period. And it was especially interesting and special to see him make those threats from that iconic green marble rostrum of the UN.

Nathan Hager (1:32)

It's Bloomberg's Balash Pens. Iranian state media say Iran's foreign minister laid out firm positions for reopening the Strait of Hormuz in the talks. They include the US immediately lifting its naval blockade, unfreezing Iran's assets and ending the war on all fronts.

Karen Moskow (1:45)

Well Nathan, President Trump and UK Prime Minister Andy Burnham exchanged warm words at their first in-person meeting. Despite growing differences between Britain and the US, Burnham says the two found common ground on ending the war in the Middle East.

Andy Burnham (1:59)

It was a very encouraging meeting. We've established a good connection in the discussions we've had, and that very much came through today. A lot of common ground on the cost of living.

We agreed around the conflict in the Middle East and the importance of bringing an end to it.

Karen Moskow (2:15)

The meeting was seen as a diplomatic test for Burnham after Britain refused to join the US war with Iran and took a tougher stance on Israeli settlements.

Nathan Hager (2:24)

Well, this evening, Karen, the focus turns back to Washington and President Trump's highly anticipated state visit for Chinese President Xi Jinping. State media in China are reporting that the Chinese leader has departed for the US. The president will greet Xi and his wife tonight at Joint Base Andrews. It is the first time that's happened for a Chinese leader in recent memory. Then the two leaders hold talks tomorrow. Issues from trade to artificial intelligence and Taiwan could be on the agenda. Aberdeen Senior Political Economist Lizzie Galbraith says expectations are low heading into this summit.

Lizzie Galbraith (2:57)

We see US-China competition on AI continuing to move ahead in the background. That doesn't seem to be abating anytime soon. And you have these other issues around things like critical minerals and strategic assets that do still seem to be bubbling along underneath the surface without any real resolution.

Nathan Hager (3:19)

Aberdeen Economist Lizzie Galbraith says an extension of the trade truce with China would be a good signal. This will be President Xi's first visit to the US Capitol in more than a decade.

Karen Moskow (3:28)

Well, Nathan, before the Chinese leader arrives, one powerful Republican senator is already criticizing the visit. Senate Armed Services Chairman Roger Wicker spoke on the Senate floor.

Roger Wicker (3:39)

Our commander in chief should keep in mind that his guest is a brutal, unelected and oppressive dictator who seeks to dominate his neighbors and whose massive military arsenal is aimed directly at the United States of America.

Karen Moskow (3:56)

Republican Senator Roger Wicker says he would not have scheduled such a lavish welcome for the Chinese leader, but he says he hopes President Trump asks about China's military buildup and support for Iran during tomorrow night's state dinner. Tech leaders, including Metta CEO Mark Zuckerberg, NVIDIA's Jensen Wong and Tesla's Elon Musk, are all expected to attend that dinner, and President Xi is not expected to bring a business delegation.

Nathan Hager (4:20)

Well, Karen, President Trump has signed a security deal with Denmark and Greenland ending a bitter dispute over the Arctic Island. The deal is set to expand Washington's military role, though it will leave the island under Danish sovereignty. President Trump says the US will start building two major military bases on Greenland.