Beyond animal diplomacy, economic matters dominated
A high-stakes dinner between U. S. President Donald Trump and Chinese leader Xi Jinping concluded with a charming gesture. Beijing confirmed that two giant pandas will soon arrive at Zoo Atlanta. The move revives a classic soft-power tool. It often serves as a barometer for U. S.-China ties.
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International Allies Bolster Saudi Defenses Amid Escalating Houthi StrikesWu Xinbo from Fudan University noted that Americans always appreciate giant pandas. Their popularity is rooted deep in Western culture, as shown by DreamWorks' Kung Fu Pandafranchise. Xi arrived at the summit with the explicit promise of sending two pandas to America.
These mammals will be the first pandas at Zoo Atlanta since four were returned to China in November 2024. At that time, Atlanta was the last American zoo to lose its Chinese bears.
Beyond animal diplomacy, economic matters dominated the agenda. Xi told Trump that artificial intelligence presents more opportunities for cooperation than competition. This statement comes despite Washington placing strict limits on advanced chip exports to China.
Asian markets showed mixed results on Friday
According to Chinese state media releases, Xi suggested continuous AI dialogue. He advocated for joint efforts to manage risks and prevent malicious technological abuse. He emphasized that while competition exists, cooperation is even more vital.
Asian markets showed mixed results on Friday. Traders weighed soaring Treasury yields against falling crude prices. The 10-year Treasury yield climbed to 5.225%, hitting its highest level since 2007. The 30-year yield touched 5.502%. Meanwhile, oil fell as U. S. and Iranian negotiators discussed a phased deal in New York to ease Persian Gulf tensions.
Japan's Nikkei 225 index gained 1.06%. However, markets in Australia and Hong Kong registered losses. Mainland China and South Korea were closed for holidays. Oracle Corp Japan jumped over 7% after reporting record first-quarter sales. In contrast, U. S.-listed Oracle shares dropped 3% following a force majeure notice on its New Mexico data center project.
In Washington, the Senate narrowly rejected a measure to end U. S. military action in Iran by a 49-50 vote. Most Republicans voted against the resolution, despite concerns over midterm election backlash. Democrat John Fetterman also opposed the bill. Had it passed, the War Powers Resolution would have forced Trump to withdraw troops without explicit congressional approval.
In corporate news, the former CEO of Family First Credit Union has left her position. Jane Smith departed immediately following controversy over an AI-edited family photo. The image showed her family in Lake AmericaT-shirts. Chief Operating Officer Jason Acosta will serve as interim CEO.