The Adversarial: Maximalist Demands, Victory Day, and a Summit
Get the Geopolitics newsletter
Daily geopolitics — wars, elections, sanctions, the diplomatic moves that move markets. Free.
- United States announced a series of “Economic Fury” sanctions targeting Iran’s oil trade and banking networks, tightening the blockade of Iranian shipping.
- United States dismissed Iran’s latest negotiation proposal as “garbage,” rejecting its maximalist demands for war reparations, sanctions lifting, and recognition of Iranian authority over the Strait of Hormuz.
- United States deployed the Arleigh Burke‑class destroyer USS Rafael Peralta to enforce a maritime blockade against an Iranian‑flagged vessel in the Arabian Sea on April 24.
- United States President Donald Trump arrived in China on May 13 for a summit with Xi Jinping, accompanied by corporate executives, to discuss trade, AI, and Taiwan.
- United States's Beijing summit produced no major wins, as reported by Foreign Policy’s coverage of the first day.
Why it matters: Iran's economy suffers as food prices surge 150% and over a million jobs disappear, while the U.S. gains no tangible trade concessions from the Beijing summit, limiting its leverage in Asia.
