The U.S. and China may launch a limited “managed trade” deal at the Trump–Xi summit, focusing on reducing tariffs on roughly $30 billion worth of non-sensitive goods each.

Instead of pushing China to change its economic system, Washington is now aiming for targeted trade balance goals while keeping restrictions on strategic technologies in place.

Likely areas for tariff relief include U.S. energy and agricultural exports and some Chinese consumer goods.

Source: Reuters

Some European and German officials are quietly discussing whether Angela Merkel could help mediate Ukraine-Russia talks.

Unlike Schröder, she still has credibility in much of Europe, personally knows both Putin and Zelensky, and speaks Russian.

Merkel’s office says nobody has approached her, and she hasn’t said whether she’d even consider the role.

Source: Spiegel

Hezbollah FPV drone targets a lone Israeli soldier.

US Energy Secretary Chris Wright says Iran is "frighteningly close" to weapons-grade uranium — already enriched to 60%, with 90% needed for a nuclear weapon.

He says Iran could be weeks away from reaching that threshold.

Keir Starmer:

I am a gooner.

Netanyahu uses Trump for his election campaign.

Iran’s Foreign Minister Abbas Araghchi:

In clear attempt to sow discord, Kuwait has unlawfully attacked an Iranian boat and detained 4 of our citizens in the Persian Gulf. This illegal act took place near island used by the U.S. to attack Iran.

We demand immediate release of our nationals and reserve right to respond.

BIG: During the war with Iran, Netanyahu secretly visited the United Arab Emirates and met with its president, Mohamed bin Zayed Al Nahyan (MBZ).

Armenia's PM Pashinyan on Karabakh:

I was speaking about the territories around Karabakh. And yes, nothing was built there.

What was built there in name only, de facto did not even exist. And whatever was built in Karabakh was at the expense of what was not built elsewhere.

Armenia's PM Pashinyan on Karabakh:

The Karabakh movement was a trap for us, which we entered.

Karabakh had already been lost from the very beginning. We were in the process of losing Armenia.

And when I realized that we were losing Armenia, my task became to preserve Armenia and establish it as a state. And we preserved Armenia and established it as a state.

Armenia's PM Pashinyan on Karabakh:

The people did not live in Karabakh — the people of Karabakh were hostages of the Kocharyan-Serzh clan, who used the name ‘Karabakh, Karabakh’ to preserve power in Armenia.

The people of Karabakh are now finally going to live — and live in Armenia — where they will have homes, peace, jobs, and social guarantees.

The White House is considering having Trump issue 250 pardons to mark America’s 250th birthday, possibly on June 14 or July 4.

Source: WSJ

NEW: Chinese companies have discussed secretly selling weapons to Iran through third countries to hide the shipments, according to U.S. intelligence.

Officials aren’t sure whether any weapons were actually delivered.

U.S. intelligence previously suggested China may have considered sending MANPADS (portable anti-aircraft missiles) to Iran. Officials also say China has already helped Iran with intelligence, satellite support, and dual-use technology used for drones and missiles.

Source: NYT

The U.S. and China have agreed that no country should charge shipping tolls in the Strait of Hormuz, according to the State Department.

The issue was discussed by U.S. Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi ahead of a Trump–Xi summit in Beijing.

Source: Reuters

China is gaining strategic advantages from the Iran war, according to a confidential U.S. intelligence report. The assessment says Beijing is benefiting diplomatically, economically, and militarily while the U.S. expends resources in the conflict.

Key findings include:

China sold weapons to Gulf countries during Iranian attacks.

Beijing helped countries manage energy shortages after Iran closed the Strait of Hormuz.

The war depleted U.S. missile and defense stockpiles, raising concerns about readiness for a Taiwan conflict.

China is studying U.S. military operations and using anti-war messaging to portray America as destabilizing.

Analysts say the conflict is improving China’s global influence and weakening U.S. standing with allies.

Source: WaPo

NOW: Trump and Xi Jinping meet in Beijing.

Trump shakes hands with Chinese officials, while Xi shakes hands with members of the U.S. delegation, including Eric Trump.

Chinese children are also welcoming Trump to China.