※[Global Morning Briefing] summarizes global news delivered by Seoul Economic Daily.
Trump Demands "Opening"... Will It Work on an Equal China?
U.S. President Donald Trump and Chinese President Xi Jinping are set to hold what is being called the "summit of the century." Trump signaled that trade issues will top the agenda, but the actual negotiating table is expected to cover a broad range of issues tied to U.S.-China hegemonic competition, including the Iran war, artificial intelligence (AI), Taiwan, and rare earths. With U.S.-China strategic competition already entering a phase of structural confrontation and wide gaps remaining on key issues, most observers expect the talks to yield only a limited "small deal" focused on managing conflict and easing tensions.
According to Reuters and other outlets, Trump arrived in Beijing on the 13th and begins his official schedule on the 14th. The two leaders will start their summit with a welcoming ceremony at 10 a.m. on the 14th. It will be their first face-to-face meeting in about six months, since the Asia-Pacific Economic Cooperation (APEC) summit held in Busan in October last year. A U.S.-China summit in Beijing is taking place for the first time in about nine years, since November 2017 during Trump's first term. Trump is scheduled to visit the Temple of Heaven Park and attend a state dinner, spending at least six official events with Xi over 36 hours.
Major foreign media outlets have identified the key agenda items as: tariffs and trade, the Iran war, export controls on advanced technologies such as semiconductors and AI, Taiwan, and rare earths and critical minerals supply chains.
The two sides, however, appear to have somewhat different priorities. Trump is focusing on expanding Chinese purchases of U.S. goods to reduce the trade deficit and on stabilizing critical minerals supply chains, while China sees the Taiwan issue and easing of advanced technology export controls as the core agenda.
The fact that Altman, who leads OpenAI, is a major shareholder in partner companies is fueling conflict-of-interest concerns. Critics also argue that because he does not own a stake in OpenAI, he has mobilized OpenAI to boost the value of his holdings in partner companies.
Saudi Arabia Also Struck Iran Multiple Times; If Ceasefire Breaks, Entire Gulf Becomes a Powder Keg [U.S.-Iran War]
Saudi Arabia, regarded as the de facto leader of the Gulf states, secretly carried out multiple attacks on Iran, while Kuwait arrested agents of Iran's Islamic Revolutionary Guard Corps (IRGC), it has emerged. As the number of Gulf states hostile to Iran grows — following the United Arab Emirates (UAE), which has a territorial dispute with Iran — concerns are rising that the front lines could widen further if airstrikes resume.
Reuters, citing sources, reported that the Saudi Air Force conducted several undisclosed retaliatory airstrikes on Iran in late March.
After Iran attacked Saudi Arabia, Saudi Foreign Minister Faisal bin Farhan Al Saud warned on March 19 that "Saudi Arabia reserves the right to take military action if necessary." This is the first time, however, that Saudi Arabia has been confirmed to have actually translated this into military action.
U.K. Deploys Fighter Jets to Escort Hormuz; Japan May Also Join Militarily
The United Kingdom has decided to deploy military assets, including advanced mine detection equipment, to secure navigation safety in the Strait of Hormuz. Japan is also joining multinational mission discussions led by Britain and France, expanding international cooperation. South Korea is likewise joining the multinational talks while considering participation in the U.S.-led "Maritime Freedom Initiative."
According to the BBC on the 12th (local time), U.K. Defense Secretary John Healey unveiled the support mission plan at a video conference of defense ministers from about 40 countries co-hosted by Britain and France. The U.K. military plans to support the strait escort mission by deploying an automated mine detection system capable of operating "Kraken" drone boats, as well as Typhoon fighter jets.
Japan is also joining related discussions. According to Kyodo News, Japanese Defense Minister Shinjiro Koizumi attended an online meeting on the 13th led by Britain and France to discuss plans for dispatching multinational forces to secure navigation safety in the Strait of Hormuz. Koizumi said that to dispatch the Self-Defense Forces, a U.S.-Iran ceasefire agreement, communication with Iran, and a reduction in military threats are needed.
Altman Funneled Work to Companies He Invested In... Faces Possible SEC Probe
The link between OpenAI CEO Sam Altman's personal investments and business dealings is being exposed in his "lawsuit of the century" with Elon Musk. Altman holds stakes in OpenAI partner companies, sparking conflict-of-interest controversy and prompting calls for a financial regulatory probe.
According to The Wall Street Journal (WSJ), Altman currently owns one-third of Helion. Given Helion's corporate valuation, his stake is worth $1.65 billion. He also holds $600 million worth of shares in payments company Stripe, $250 million in anti-aging startup Retro Biosciences, and $3 million in semiconductor startup Cerebras.
