00:00President Trump said we have Iran very much under control.
00:02It doesn't appear that way when you look at the inflation numbers.
00:06Will he ask President Xi for help?
00:12Well, potentially, and I think what you hear from U.S. officials leading up to this trip
00:17is that the continuation of discussions this administration has had in the past
00:22when it comes to Iran vis-a-vis with China, that is just a continuation.
00:27When it comes to potential help that the Chinese could offer when it comes to Iran,
00:32potentially they could put some pressure on the regime to reopen the Strait of Hormuz,
00:35although there's no evidence that the regime would actually listen to Beijing.
00:39On top of that, there is something that I guess the administration could ask,
00:43which is ask the Chinese to add more barrels of oil into the market.
00:47They've already released some from their own version of the strategic petroleum reserve,
00:50but they're sitting on 1.4 billion barrels.
00:54And just for some context, that's more than the United States
00:57and eight other of the largest stockpilers combined.
01:01So those are potentially some asks when you're reading this data from PPI
01:06and the surge in energy prices that this administration might want to bring to the table
01:11when it comes to China.
01:12But they certainly don't want the conflict in Iran to derail more of the bilateral relationship
01:19between Washington and Beijing.
01:20It's very telling about what the president wants out of this trip
01:23when you look at the list of executives he's bringing alongside with him.
01:27Anne-Marie, can we talk about those executives and the one that is now being added to the list,
01:32Jensen Huang of NVIDIA.
01:34Does it seem like this was a last-minute change or just one that was accidentally left off the list?
01:41I think it was a last-minute change.
01:43You know, the president called him personally and said,
01:45I do want you to come.
01:46Why don't you meet us at the refueling stop in Alaska?
01:50You know, get in Air Force One and let's touch down together alongside Elon Musk.
01:55Pretty stunning.
01:56You know, I went back to something an official told reporters ahead of this trip,
02:01which is that weeks ahead of the trip, they went to a number of agencies and said,
02:04what kind of companies should we be inviting with us?
02:07And obviously, the names that rise to the top are companies that they want,
02:11the administration wants, selling items into China, China being purchasers of these items.
02:17This is why the Boeing CEO is here.
02:20This is why the Cargill CEO is here.
02:22When it comes to soybeans, beef, Boeing jets,
02:25the fact that Jensen Huang is now on this trip adds some tension potentially
02:29to what is on the table when it comes to semiconductors.
02:34Remember, this administration who banned the H-200s
02:36and then had a reversal of the policy in January
02:39opened up the H-200s to be shipped into China.
02:42They would get a little bit of a fee in terms of 25%.
02:45But the Commerce Secretary, Howard Lutnick,
02:48told the Senate in April that not a single H-200 has been shipped into China
02:52because China, the government, the CCP hasn't told any firms
02:56that they can actually buy these.
02:58So potentially, is that an opening for these firms to start buying the H-200?
03:02Or is it potentially an opening for this administration to go even further
03:07and allow even the more advanced chips that NVIDIA sells like the Blackwell?
03:12So I think a lot of those questions are now rising
03:15because the fact that Jensen Huang was a late addition on this trip to Beijing.
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