Donald Trump and Xi Jinping will discuss a potential extension of their trade war truce this week, UK Prime Minister Andy Burnham met Trump for the first time, and the cost of hiring an oil supertanker has passed $1.2mn a day for the first time on routes between the Middle East and Asia. Plus, billionaire financier Todd Boehly has secured the backing of the US government and Gulf power brokers with ties to the Trump family to bid for the international assets of Lukoil.

Mentioned in this podcast:

What happened to the US’s China hawks?

What Xi Jinping wants from his summit with Donald Trump

Donald Trump rejects ‘globalist scheme’ in blow to Andy Burnham’s plan for AI guidelines

Oil tanker costs hit record $1.2mn a day as Iran war disrupts shipping

US government and Gulf billionaires back Todd Boehly bid for Lukoil assets

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The FT News Briefing is produced by Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Josh Gabert-Doyon. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Kelly Garry. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.

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Will Trump and Xi extend their trade truce?

FT News Briefing

Will Trump and Xi extend their trade truce?