Trump administration is inviting CEOs from Nvidia, Apple on Trump's China trip, report says
China has advanced yuan-based oil settlement while U.S. dollar swap lines and Asia’s refinery demand are pulling more trade back into dollars.
- Beijing has waged a decade-long offensive against the U.S. dollar with oil as the front line, but Trump has disrupted this order by pushing back against Chinese efforts to bypass the dollar.
- In November 2023, the People's Bank of China and the Saudi Central Bank signed a $7 billion currency swap agreement to enable direct yuan-riyal settlement, as the dollar's share of global reserves slipped to roughly 57%.
- Treasury Secretary Scott Bessent has been extending permanent dollar swap lines to Gulf and Asian allies, offering a lifeline to the UAE after it exited OPEC effective May 1, 2026.
- Next week, Trump plans to invite CEOs from Nvidia, Apple, Exxon, and Boeing to accompany him to Beijing, aiming to build the relationship between Trump and Xi Jinping.
- Trump told CNBC that giant tankers are now arriving "empty" at U.S. ports in Texas, Louisiana, and Alaska to load American oil, demonstrating that de-dollarization is not a one-way street.
12 Articles
12 Articles
(Washington = Yonhap News) Correspondent Hong Jeong-gyu = U.S. President Donald Trump may invite CEOs of major South Korean companies, including Nvidia and Apple, to his visit to China...
Trump administration is inviting CEOs from Nvidia, Apple on Trump's China trip, report says
The Trump administration is inviting CEOs from Nvidia , Apple , Exxon , Boeing and other big companies to accompany the president on his trip to China next week, Semafor reported on Thursday.
Exclusive: Trump administration plans to invite CEOs from Nvidia, Apple, Exxon on China trip
The Trump administration plans to invite CEOs from Nvidia, Apple, Exxon, Boeing, and other big companies to accompany the president on his trip to China next week, a person familiar with the matter said.The list also includes executives from Qualcomm, Blackstone, Citigroup, and Visa, and is likely to grow in the coming days as CEOs jockey for invites.Spokespeople for the White House and the companies didn’t immediately respond to requests for co…
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