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Market Chatter: US Says China Open to Expanded Energy Trade Following Xi-Trump Summit

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Following Thursday's summit between presidents Donald Trump and Xi Jinping, Washington signaled potential growth in American energy exports to China, Reuters reported Thursday.

The White House said Xi showed willingness to increase U.S. oil purchases to lessen reliance on Middle Eastern shipping routes, according to the report.

U.S. Treasury Secretary Scott Bessent said Alaskan production is particularly suited for Chinese buyers, Reuters wrote. However, Beijing's official statements omitted any energy discussion.

Chinese oil imports from America halted in May 2025 due to 20% trade war tariffs, according to the report. Previously, U.S. crude never exceeded 4% of China's imports, peaking at 395,000 barrels daily in 2020.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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