Scott Bessent from Beijing - 05/14/26 | Audio Only

Treasury Secretary Scott Bessent discusses U.S.-China trade negotiations, AI cooperation, and oil market dynamics from Beijing. He expresses confidence in declining crude oil prices, positive expectations for Boeing orders and soybean exports, and details the administration's stance on Taiwan and Iran. The summit involves President Trump and President Xi, with significant business leaders present. - U.S. and China agree to form boards of trade and investment for non-sensitive areas. - Bessent expects crude oil prices to fall sharply due to increased supply and backwardation. - Large Boeing orders from China are anticipated as part of trade deliverables. - Bessent suggests China should buy more soybeans ahead of El Niño-driven price spikes. - The administration maintains a hard line on Iran, with an effective blockade causing severe strain. - AI safety protocols will be discussed with China, with the U.S. maintaining a leadership position. - Taiwan remains a contentious issue; Bessent says President Trump understands the sensitivities. - Nvidia's H200 chip sales to China remain unexecuted; Bessent defers to the Commerce Department.