China has resisted the Trump administration’s urgings — and economic threats — to use its considerable leverage to prod Iran to agree to U.S. terms to end the nearly seven-month war. Xi wants to see Trump permanently halt arms sales to Taiwan and loosen export restrictions on cutting-edge advanced chips. And the two sides on Wednesday agreed to extend a one-year trade truce set to expire Nov. 10 for two months, kicking the can on finding a more durable agreement.
All the while, both leaders seem to believe that time is on their side as they look to outmaneuver the other in what is expected to be the world’s most significant economic and national security competition for years to come.