President Trump and Chinese leader Xi Jinping agreed that the Strait of Hormuz should remain a free waterway and the Iranians shouldn’t be able to exact payments via a toll for use of the shipping lanes, according to a White House readout of talks between the two leaders. Beijing “expressed an interest” in increasing its purchases of U.S. oil to reduce China’s “dependence” on oil traveling through the waterway, according to the White House summary, suggesting that the Chinese government may reduce the amount it spends on Iranian oil.
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