Number of the day

1 A.M.  

That's the time air raid alerts began across Ukraine last night as Russia launched drone and missile attacks towards the country, just days after Kyiv's 'Operation Spider Web.’

Keeping up with the Karda-Xi-ans

Sometimes, the shortest press releases generate the most headlines.  

Take Thursday’s press release from China’s state broadcaster: “Chinese President Xi Jinping on Thursday held phone talks with U.S. President Donald Trump at the latter's request.” 

As you’d expect, given the feverish geopolitical climate of today, those 18 words were enough to trigger a visceral reaction in any US-China watcher. 

Here’s what you need to know about the Xi-Trump call. 

It lasted around 90 minutes, and was described by Trump as a “very good phone call”. This was the first direct contact between the two leaders since Donald Trump’s return to office, and the Chinese Foreign Ministry was quick to point out the call was organised at Trump’s request. 

What did they talk about? 

• Trade – Predictably, this was the top priority for both presidents. The two pledged to implement the trade truce they agreed to following talks in Geneva last month, with Xi exhorting Trump to remove the “negative measures” imposed on China. The two leaders also agreed to continue trade negotiations, with delegations to meet “shortly”

• Rare earth minerals – According to President Trump, the two cleared the air on China’s export curbs, stating “there should no longer be any questions respecting the complexity of Rare Earth products”, (we’re not entirely sure of what this means in practice) 

• Chinese students – Xi also brought up the issue of US student visas for Chinese nationals. Following the call, Trump told journalists it’s an “honour” to have Chinese students in the US

• Taiwan – The Chinese readout (🇨🇳) also mentions Xi warned the US of handling the issue of Taiwanese independence “prudently” to avoid it dragging the two powers “into a dangerous situation of conflict and confrontation”. 

And like any estranged friends, Xi and Trump ended the call promising to visit one another. 

Why is this important?

This call comes at a crucial juncture for China-US ties (and the whole world). Last week, the two biggest economies accused one another of breaching the terms of the Geneva trade consensus. All the while, European and US auto suppliers are sounding the alarm their supply chains will soon be hit if China doesn’t loosen its export curbs on rare earth minerals and magnets. 

The Xi-Trump call thus draws a line under their most recent spat, cooling down the inflammatory tones coming out of Beijing and DC. And while we’re no closer to a trade deal, we’re maybe a little further away from the edge.

Intrigue’s Take

World leaders have developed distinct strategies for how to deal with President Donald J. Trump.

German Chancellor Friedrich Merz, who met the US President in the Oval Office yesterday, emerged unscathed – nay, thrilled – from the encounter by choosing to yield the spotlight to his host and emphasising the shared objective of ending the Russo-Ukraine War, while avoiding any finger-pointing.

Xi has taken a different approach, playing hard-to-get and avoiding requests for direct calls or meetings with the US president in an effort to up the pressure on Washington and avoid a possible embarrassing dressing down a la Zelensky.

From what we’ve heard here in DC, the only real thing that matters for Trump on any agreement with China is landing a good deal on fentanyl.

Sound even smarter:

• Earlier this week, the OECD downgraded its global growth forecast for the year, blaming trade disruptions and an uncertain economic outlook. 

• A day before their call, the US President took to social media to lament it was “extremely hard to make a deal” with Chinese President Xi Jinping.

Meanwhile, elsewhere…

Extra Intrigue

Intrigue’s Weekend Recommendations

• Watch: Catch up on our latest interview with none other than Pulitzer-Prize winner Anne Applebaum on all things autocrats and disinformation. 

• Read: The US-Africa relationship is shifting from development-led to one focused on strategic minerals, security, and multipolarity. 

• Listen: To the new season of The Outlaw Ocean, a podcast that mixes investigative journalism and the inescapable tug of the deep waters.

Bag of the day

Recognise that bag above? The luxury connoisseurs amongst us will have instantly identified it as an Hermes Birkin. Why are you reading about a $40K bag on Intrigue? Well, luxury bags have landed more than one world leader in a pickle. Just last year, the ex-South Korean President was roiled by a scandal brought on by his wife's Dior bag, and let’s not forget about the OG, Imelda Marcos’ impressive handbag collection.

Now, where were we? Oh, yes, we’re here to let you know that the original Birkin bag, designed for the late Jane Birkin after she said she wanted a bag “half the size of her suitcase”, will be auctioned by Sotheby’s on 10 July. Just in case you were looking to do some bidding.

Friday Quiz

It’s 6 June, or D-Day!