Global Briefing 2026-09-26: US-China Extend Trade Truce

1. US - CHINA EXTENDS TRADE TRUCE BY TWO MONTHS
President Donald Trump hosted Chinese President Xi Jinping and first lady Peng Liyuan at the White House, including a state dinner. Treasury Secretary Scott Bessent said Washington and Beijing agreed to extend their trade truce until Jan. 10. Xi described the new trade arrangement as good for both countries and the global economy. The leaders discussed AI, trade, Taiwan, the Korean Peninsula, the Middle East and the Russia-Ukraine war. Xi urged the U.S. to oppose "Taiwan independence" and handle Taiwan with caution. Trump called the meeting "very productive" and said a new meeting with Xi could take place in China in November 2026.

2. NETANYAHU ADDRESSES UN AMID WALKOUTS OVER GAZA
Israeli Prime Minister Benjamin Netanyahu addressed the 81st session of the UN General Assembly on Sept. 24 as many delegates walked out in protest. He rejected genocide allegations, saying Israel "didn't commit genocide. Israel prevented genocide," and called the delegates "moral cowards." Palestinian President Mahmoud Abbas, in a pre-recorded video, warned that the two-state solution is severely undermined and spoke of a "war of genocide" in Gaza. Australian Prime Minister Anthony Albanese urged stronger international action on Palestine, Iran and AI, opposing illegal Israeli settlements and any future role for Hamas, while calling for a ceasefire, reopening of the Strait of Hormuz and restoration of freedom of navigation. Dutch Prime Minister Rob Jetten defended the International Criminal Court, saying international law works "for everyone or for no one."

3. UN SECURITY COUNCIL CONDEMNS HOUTHI ATTACKS ON SAUDI ARABIA
The Security Council issued a statement condemning in the strongest terms continued Houthi attacks on Saudi Arabia, including civilian and energy infrastructure, and expressed grave concern over at least 125,000 displaced people across Yemen since the start of September. Saudi-led coalition air defenses intercepted six Houthi ballistic missiles targeting Taif and Yanbu. Houthi military spokesman Yahya Sarea claimed a large-scale attack on Saudi positions in Jazan caused hundreds of casualties; that claim has not been independently verified. Military chiefs from Saudi Arabia, Turkey and Pakistan met in Riyadh on Sept. 25 and agreed to begin implementing the Mecca Joint Defense Agreement immediately, under which an attack on one member is treated as an attack on all.

4. IRAN PROPOSES REOPENING STRAIT OF HORMUZ IN TALKS
Iranian Foreign Minister Abbas Araghchi said Iran submitted a new draft to the U.S. and offered to reopen the Strait of Hormuz and restart talks. According to informed sources, a phased agreement is being discussed in New York: reopening Hormuz in exchange for lifting the U.S. economic blockade. President Masoud Pezeshkian reiterated that Iran "completely" does not want nuclear weapons, is willing to reduce uranium enrichment within international law and accept verification, and said the Iran-U.S. memorandum of understanding "has been signed." Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman met Pezeshkian in New York on Sept. 25 to discuss easing regional tensions.

5. RUSSIA ANNOUNCES DUMA RESULTS, UKRAINE FIGHTING CONTINUES
Russia's Central Election Commission announced final State Duma results: United Russia won a record 349 of 450 seats, followed by the Communist Party with 37; turnout was 59.8% (67,448,094 votes). Russia's Defense Ministry said strikes targeted Ukrainian military-industrial facilities, logistics centers, a data center and naval vessels. Ukraine said a Russian attack on Kyiv on Sept. 25 killed 7 and wounded 46. Russia said 592 Ukrainian drones were intercepted over 19 regions and the Black Sea, with industrial facilities damaged. Kremlin spokesman Dmitry Peskov said a Russia-US-Ukraine trilateral meeting may take place soon, with the U.S. proposing a technical-level meeting in the UAE.

6. HORMUZ OIL FLOWS STEADY, FRANCE PLANS G7 RESERVE TALKS
Preliminary Kpler ship-tracking data showed crude oil flows through the Strait of Hormuz reached 33.7 million barrels in the week starting Sept. 20, close to the previous week's pace. France plans to convene the G7 to discuss releasing strategic oil reserves amid supply risks linked to the Hormuz standoff.

7. OTHER DEVELOPMENTS IN 24 HOURS
Pope Leo XIV began a four-day visit to France on Sept. 25, the first papal trip since 2008, welcomed by President Emmanuel Macron; about one million people were expected in Paris. Sudan's armed forces announced the recapture of the strategic town of Sodari from the Rapid Support Forces. A small plane crashed and caught fire in Kenge, Kwango province, DR Congo, killing all 13 people on board. Germany's Allianz estimated summer heatwaves cost Germany about 250 billion euros in economic losses. Volkswagen confirmed a global recall of about 2.86 million vehicles over a steering-system defect.

What to watch today: Speeches at the UN General Assembly on Sept. 26 by German Foreign Minister Wadephul, Russian Foreign Minister Sergei Lavrov and Chinese Vice President Han Zheng.

*Information compiled for reference, reflecting multiple sources at the time of publication.*