• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump-Xi summit could hold key to lower gas prices, GOP chairman says

by September 24, 2026
written by September 24, 2026

President Donald Trump has a prime opportunity to help lower costs for Americans in his meeting with Chinese President Xi Jinping, the top GOP lawmaker overseeing U.S. diplomacy told Fox News Digital.

House Foreign Affairs Committee Chairman Brian Mast, R-Fla., argued that China is one of the biggest culprits in Americans’ current struggle with high cost of living — particularly at the gas pump. He blamed China’s willingness to arm Iran in its ongoing conflict with the U.S., which has wreaked havoc on global trade by effectively closing the Strait of Hormuz.

“If President Trump can secure that China will stop arming Iran, who is trying to destabilize this key oil route through the globe, then the president will have done something very important for affordability, especially in terms of global crude prices, which equal prices at the pump here in the United States of America,” Mast said.

TRUMP-XI SUMMIT SHOULD MAKE SURE AMERICAN STRENGTH DELIVERS AMERICAN RESULTS

Cost of living and affordability are fast becoming top issues in the coming November midterm elections, with both parties accusing the other of pushing policies that will make life more expensive for everyday Americans.

Gas prices are a particular flashpoint, with the ongoing U.S. war with Iran being blamed for the rising cost of oil.

TRUMP-BACKED IOWA US SENATE HOPEFUL SAYS IRAN WAR MUST ‘BE BROUGHT TO A SUCCESSFUL AND IMMEDIATE END’

The current national average cost of a gallon of gas is $4.47, up more than 30 cents since Sept. 3.

Mast said China “probably is the number one actor that is working to raise those prices,” with its support of both Iran and Russia’s wars.

BESSENT PREDICTS OIL PRICES COULD DROP AS LOW AS $40 AFTER IRAN CONFLICT ENDS AND SUPPLY FLOODS MARKET

He said Trump has a prime opportunity on Thursday to press Xi on easing up on that support for Tehran, in particular.

“China is arming Iran so that Iran can indiscriminately attack civilians moving through the strait. That is the fundamental difference about what China is doing … the United States, looking to protect all of those resources going through there, the civilians going on the ships through there and the civilians across all of the countries throughout the Gulf,” Mast said.

Over the last two months, Mast said, Trump “moved over a billion barrels of oil through the Strait of Hormuz.”

“He’s moved over 2,000 ships through the Strait of Hormuz, civilian merchant ships through the Strait of Hormuz. Iran has moved nothing. But that doesn’t mean that the global oil markets don’t see instability,” Mast said.

WHO CONTROLS THE STRAIT OF HORMUZ RIGHT NOW? HERE’S WHAT THE SHIP TRAFFIC ACTUALLY SHOWS

Thursday’s summit will mark Trump’s third meeting with Xi of this term, and Xi’s first visit to the U.S. since the commander-in-chief returned to the White House last year.

Asked what leverage Trump has to press Xi on Iran, Mast pointed to the Russia-Iran sanctions bill the president recently signed into law. That legislation was named after the late Sen. Lindsey Graham, R-S.C., one of the most vocal critics of Russia’s invasion of Ukraine.

“China is the number one target for that sanctions bill. It would affect, has the potential to affect, a great deal of trade if President Trump chooses not to waive some of his sanction authorities that he’s given in that bill,” Mast said.

This post appeared first on https://www.foxnews.com

0 comment
0
FacebookTwitterPinterestEmail

previous post
Republicans face brutal midterm headwinds. Six forces could help them defy history.
next post
Meta stock rises as analysts raise PTs; JPMorgan likens Muse potential to ChatGPT

related articles

4 GOP senators rebel against Trump on Iran...

September 24, 2026

Alaska has a voting system like no other...

September 24, 2026

Soros-linked prosecutor faces primary challenge as fellow Democrat...

September 24, 2026

Trump administration uncovers $1.2B in suspected COVID contract...

September 24, 2026

Republicans face brutal midterm headwinds. Six forces could help...

September 24, 2026

Bipartisan duo wants to remind Congress, Trump of...

September 23, 2026

Lawyer for Austin ICE shooting victim sparks online...

September 23, 2026

Trump’s diesel idea could have unleashed a problem...

September 23, 2026

Susan Collins tears into bribery allegations as new...

September 23, 2026

Zelenskyy to seek offramp for yearslong Russia war...

September 23, 2026
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Oil prices dip as cautious optimism over Iran trumps new fears of Russian escalation in Ukraine

    August 27, 2026
  • Dow rises as tech rebounds ahead of Micron earnings after recent sell-off

    June 24, 2026
  • Iran’s president blames foreign pressure as expert warns regime’s economy nears breaking point

    August 6, 2026
  • Trump administration proposes stripping tax-exempt status from schools using race-based programs

    September 4, 2026
  • SpaceX stock soars after IPO: Will it follow the Circle, Figma, Klarna path?

    June 16, 2026

Popular Posts

  • 1

    CoreWeave stock jumps 10% as analysts see major backlog upside

    June 16, 2026
  • 2

    Intel, AMD stocks slide again in aftermath of Broadcom’s weak outlook

    June 5, 2026
  • 3

    Dow tumbles 680 points as chip rout sends Nasdaq to biggest drop since 2025

    June 5, 2026
  • 4

    Wedbush makes a strong case for buying the dip in Planet Labs stock

    June 5, 2026
  • 5

    Wedbush makes a strong case for buying the dip in Planet Labs stock

    June 5, 2026

Categories

  • Editor's Pick (657)
  • Investing (1,481)
  • Stock (90)

Latest Posts

  • Why Tesla stock is beating the broader market today

    June 22, 2026
  • Dow closes 300 pts lower as US crude oil tops $100 and Fed rate-hike bets rise

    September 10, 2026
  • Trump’s tougher round-two birthright citizenship strategy hinges on key legal distinction, experts say

    August 29, 2026

Recent Posts

  • Trump anti-fraud division’s future rests with Senate Dems after bipartisan House win

    September 23, 2026
  • Why software stocks like INTU, ADBE, TTD, WDAY, CRM are trailing the S&P 500

    June 25, 2026
  • Here’s why Rolls-Royce share price is falling and what may happen next

    September 2, 2026

Editor’s Pick

  • Thomas, Gorsuch target landmark ruling Trump says protects the ‘fake news’

    June 29, 2026
  • Fury erupts as US brand fires 1,600 employees after securing thousands of foreign worker visas

    July 9, 2026
  • Dell stock falls before earnings: strong AI demand will not alone sustain 250% rally

    September 1, 2026
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock