Trump gets more access to China’s rare earths for the USA climate transition.
Yes the USA is transforming and higher oil prices are kinda helping.
Xi and China get access to USA EV market.
Xi wants Trump to pivot back to multilateralism ….he seems to on the surface, anyhow….could be good for UN global climate action.
Could be good for global (UN) carbon markets ….which are struggling. So are most national markets.
Higher oil gives scope to introduce carbon prices as crude prices fall. Eg IMF/CarrZee plan for global carbon prices, where richer countries with more historical responsibility for the climate crisis pay higher prices vs those countries with smaller historical responsibility.
Could stop the G20 splitting into BRICS vs OECD ….which it seems to be doing.
President Donald Trump appears to be going into the meeting with Xi Jinping with five main objectives:
- Stabilise the trade relationship
- Get Chinese help pressuring Iran
- Secure access to rare earth minerals and manufacturing inputs
- Push China harder on fentanyl precursor chemicals
- Reassert US positions on Taiwan and security issues
(Updated with summary of global-carbon-pricing plan.)