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US, Chinese officials talk trade, AI ahead of Xi visit
Officials picked up where they “left off in Beijing,” said Treasury Secretary Scott Bessent.
US, Chinese officials talk trade, AI ahead of Xi visit
Officials picked up where they “left off in Beijing,” said Treasury Secretary Scott Bessent.
View / The summit won’t break the US-China stalemate
View / France’s ‘school of happy globalization’ refocuses on security
The World at a Glance
Updated 10:15am EDT
1
Global diplomacy takes center stage in the US this week, highlighted by talks between the US and Chinese leaders.
2The US proposed a superpower AI safety mechanism in talks with China, but analysts voiced skepticism that an accommodation would be reached.
3Surging fuel prices driven by the wars in Ukraine and the Middle East are shaping politics across the US, Brazil and the EU.
4Copper prices surged as global production sagged compared to 2025 levels, raising concerns over future supplies of the metal.
5Conflict in Europe and the Middle East risks setting off a major food price shock, experts warned, leaving poor nations particularly vulnerable.
6Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng before this week’s Trump-Xi summit.
Republican group slashes ad spending in NC Senate race
Republican candidate Michael Whatley is trailing former Democratic Gov. Roy Cooper in polls.
Conflict isn’t slowing deals for Gulf’s fastest-growing investment firm
BlueFive Capital founder and CEO Hazem Ben-Gacem has used its $15 billion to invest in driverless deliveries, supercars, and Shariah-compliant finance.
Inside a low-key House Democratic leadership fight
In recent days, allies of both Reps. Joe Neguse, D-Colo., and Ted Lieu, D-Calif., have laid claim to the fourth-ranking slot in a possible Democratic majority.
‘This pushes the boundaries’: White House helped Pentagon explain the legality of its equity deals
A legal opinion reviewed by Semafor shows how the Trump administration created the rationale for government stakes in more than a half-dozen companies.
Why the Senate won’t vote to repeal new Canada tariffs
The president’s use of a nearly century-old law to impose the levies takes away individual senators’ ability to force a vote on the Senate floor.
At Trump-Xi meeting, Taiwan will be on back burner
Still, rising US-China tensions over the self-governing island loom in the background.
Why Kai-Fu Lee thinks companies need an AI boss
Google’s former China chief says CEOs face a Darwinian choice if they want more than “AI theater.”
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Politics
Collins challenges NIH grant review plan
Since the start of President Donald Trump’s second term, she’s successfully pushed back against National Institutes of Health funding cuts.
Eric Lee/Reuters
Republican group slashes ad spending in NC Senate race
Republican candidate Michael Whatley is trailing former Democratic Gov. Roy Cooper in polls.
Kevin Lamarque/Reuters
Surging fuel prices heat up polls across US, Brazil and EU
Though benchmark oil prices have stabilized after a recent surge, a shortage of fuel tankers and limits on global refining capacity have driven diesel costs.
Mike Blake/Reuters
Global diplomacy takes center stage in New York
The UN General Assembly could see talks between US President Donald Trump and his Ukrainian, and maybe even Iranian, counterparts.
Inside a low-key House Democratic leadership fight
In recent days, allies of both Reps. Joe Neguse, D-Colo., and Ted Lieu, D-Calif., have laid claim to the fourth-ranking slot in a possible Democratic majority.
‘This pushes the boundaries’: White House helped Pentagon explain the legality of its equity deals
A legal opinion reviewed by Semafor shows how the Trump administration created the rationale for government stakes in more than a half-dozen companies.
Why the Senate won’t vote to repeal new Canada tariffs
The president’s use of a nearly century-old law to impose the levies takes away individual senators’ ability to force a vote on the Senate floor.
At Trump-Xi meeting, Taiwan will be on back burner
Still, rising US-China tensions over the self-governing island loom in the background.
US, Chinese officials talk trade, AI ahead of Xi visit
Officials picked up where they “left off in Beijing,” said Treasury Secretary Scott Bessent.
France’s ‘school of happy globalization’ refocuses on security
The shift at Sciences Po is indicative of a broader European pivot toward its own defense — and away from America.
US, Chinese officials meet before summit
US Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York on Sunday before this week’s high-stakes summit between US President Donald Trump and Chinese leader Xi Jinping.
Business
Conflict isn’t slowing deals for Gulf’s fastest-growing investment firm
BlueFive Capital founder and CEO Hazem Ben-Gacem has used its $15 billion to invest in driverless deliveries, supercars, and Shariah-compliant finance.
Courtesy of BlueFive Capital/Semafor graphic
Why Kai-Fu Lee thinks companies need an AI boss
Google’s former China chief says CEOs face a Darwinian choice if they want more than “AI theater.”
How Atlassian built a $45 billion software company far from Silicon Valley’s ‘froth and bubbles’
CEO Mike Cannon-Brookes says CEOs need context, experimentation, and some big bets to get the most from AI.
GM to build Patriot missile parts for Lockheed Martin
The Pentagon is hoping to enlist more manufacturers in its push to speed up procurement and plug the gaping munitions holes that have emerged during the ongoing conflict with Iran.
Asian economies boom on AI-driven data center demand
Major Asian economies are profiting from growing global demand for AI.
Technology
Rifts ahead of US-China talks on AI safety
Analysts voices skepticism that Washington and Beijing would reach an accommodation on the proposed AI safety mechanism.
Tingshu Wang/Reuters
Experts warn of AI warfare risk
The US military reportedly prepared to intercept a Chinese vessel in the Middle East this spring after an AI chatbot misidentified materials on board, a close call that “almost started a war,” a source told CNN.
US Navy/Handout via Reuters
The real reason not to IPO
OpenAI and Anthropic were once essentially research laboratories, running on the thrill of innovation without the pressure of revenue models or Wall Street analysts.
Fears about technology causing extinction are not unprecedented
A look at newspaper archives shows parallels in how society debated the impacts of nuclear power and its regulation and AI, though there are limits to the analogy.
Tech leaders clash over AI safety regulation
Palantir’s boss told CNBC that leading AI firms may need to be nationalized, while Huawei’s chair called for Chinese labs to accelerate their development.
AI cybersecurity risks explode as Claude used to break into ChatGPT
The effort, part of a bug-hunting program, was the latest in a series of cybersecurity breaches, The Wall Street Journal noted.
Energy
Data centers drive a surge in climate tech funding
‘It’s a really weird moment because we’re having a bunch of tourists come in.’
Brian Snyder/Reuters
Kyiv launches massive strikes on Moscow as Russians vote
Ukraine launched a huge drone attack on Moscow and its surrounding regions Sunday as Russian voters cast ballots on the final day of parliamentary elections.
Stringer/Reuters
Houthis hit Saudia Arabia, threatening further escalation
Yemen’s Iran-backed Houthi fighters struck Saudi Arabia over the weekend as Iran warned against new US attacks, threatening to ignite another round of regional escalation.
Stringer/Reuters
Gulf
Al-Kaabi: Hormuz ‘cannot be obsolete’
The Strait of Hormuz “cannot be obsolete,” despite the Trump administration’s assertions, Qatar’s energy minister said.
Courtesy of Qatar Economic Forum, Powered by Bloomberg
Qatar Investment Authority consolidates domestic portfolio
The sovereign wealth fund moved companies into a new division, Doha Investment, which will hold more than 40 firms.
Conflict isn’t slowing deals for Gulf’s fastest-growing investment firm
BlueFive Capital founder and CEO Hazem Ben-Gacem has used its $15 billion to invest in driverless deliveries, supercars, and Shariah-compliant finance.
Houthis hit Saudia Arabia, threatening further escalation
Yemen’s Iran-backed Houthi fighters struck Saudi Arabia over the weekend as Iran warned against new US attacks, threatening to ignite another round of regional escalation.
UAE’s super stallions will compete in Japan’s Asian Games
The UAE fielded its first-ever Asian Games dressage team in Hangzhou in 2023. The 20th Asian Games run Sept. 19 to Oct. 4 in Nagoya, Japan.
China
The summit won’t break the US-China stalemate
Beneath the diplomatic surface, the two sides are radically at odds over just about everything.
US President Donald Trump and China’s leader Xi Jinping in 2025. Evelyn Hockstein/Reuters
Rifts ahead of US-China talks on AI safety
Analysts voices skepticism that Washington and Beijing would reach an accommodation on the proposed AI safety mechanism.
Tingshu Wang/Reuters
US, Chinese officials meet before summit
US Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York on Sunday before this week’s high-stakes summit between US President Donald Trump and Chinese leader Xi Jinping.
Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng meet in March. US Treasury/Handout via Reuters
Africa
Gates Foundation commits $1B to Africa’s AI development
More than 90% of the data used to train early large language models came from English-language sources.
Monicah Mwangi/Reuters
African banks expand beyond home countries
Banking groups are hoping to capture expected growth in cross-border transactions and reduce exposure to domestic risks, a Fitch Ratings report said.
Siphiwe Sibeko/Reuters
Africa needs broadband, power expansion to bridge internet gap — report
Around 60% of people in Africa live in areas where mobile internet access is available, but don’t use it.
US lifts sanctions on Eritrean officials
The Biden administration imposed the measures in 2021 over human rights abuses committed during the Tigray war in neighboring Ethiopia.
South Africa woos US and China with platinum
Africa’s biggest economy is leveraging its role as the world’s dominant platinum supplier to forge ties with Washington and Beijing.
Africa’s diaspora needs a bigger role
The continent needs more than remittances and goodwill from Africans abroad.
Security
Surging fuel prices heat up polls across US, Brazil and EU
Though benchmark oil prices have stabilized after a recent surge, a shortage of fuel tankers and limits on global refining capacity have driven diesel costs.
Mike Blake/Reuters
Global diplomacy takes center stage in New York
The UN General Assembly could see talks between US President Donald Trump and his Ukrainian, and maybe even Iranian, counterparts.
Caitlin Ochs/Reuters
Merz’s CDU collapses in German regional elections ‘disaster’
Germany’s governing CDU suffered its worst result in 80 years in regional elections Sunday.
Christian Mang/Reuters
Media
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Brian Snyder/Reuters
Fertile ground
Flagship’s lead writer Tom Chivers says goodbye after four years.
Crooked Media’s nonprofit launches new political creator drive
The nonprofit arm of Pod Save America’s audio empire is hoping to lure younger voters back to the Democratic Party.
YouTube cracks down on ‘ghost creators’
The enforcement action targeted accounts named in Semafor’s report earlier this week.
Paid actors, AI writing: How a new kind of video business cashed in on America’s divided politics
‘Ghost creators’ are reaching millions of viewers with nearly identical, sensationalized videos that take aim at Democrats.
CEO Signal
Why Kai-Fu Lee thinks companies need an AI boss
Google’s former China chief says CEOs face a Darwinian choice if they want more than “AI theater.”
How Atlassian built a $45 billion software company far from Silicon Valley’s ‘froth and bubbles’
CEO Mike Cannon-Brookes says CEOs need context, experimentation, and some big bets to get the most from AI.
How the billionaire Bayeux Tapestry backer gets ‘impact per dollar’
WorldQuant’s Igor Tulchinsky finds inspiration in the ‘very, very old data set’ now on display in the British Museum.
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