Xi Urges US to Oppose Taiwan Independence, US, Iran Talk Hormuz

Chinese President Xi Jinping urged the US to oppose Taiwan independence, elevating cross-strait geopolitical risk. Separately, the US and Iran held talks concerning the Strait of Hormuz, a critical global oil-shipping chokepoint. The limited headline information provides no details on outcomes, but both developments could affect regional security, trade flows and energy-market risk premiums.