FT News Briefing Gulf dealmaking machine hits the brakes
79 snips
May 12, 2026 
Nico Perazzi, FT Gulf business correspondent in Dubai covering M&A and markets; Gideon Rachman, FT chief foreign affairs commentator on geopolitics and US-China ties. They talk about Trump, Iran ceasefire prospects and how the Iran war has frozen Gulf dealmaking. They discuss the stakes of the Trump–Xi summit and why Taiwan could be a dealbreaker.
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Ceasefire Hangs On A Thread
- The US-Iran ceasefire is fragile with negotiations stalling over Iran's enriched uranium stockpile.
- Donald Trump called Tehran's response
China Holds Edge Through Mineral Controls
- China has the upper hand in the US-China trade standoff due to its export controls on critical minerals and rare earths.
- Gideon Rachman notes those controls forced the US to roll back tariffs and threaten vital US industry like Ford.
Tech Limits Could Backfire On The US
- The US retains leverage in tech and wants tariff reductions, but export controls on tech risk accelerating Chinese indigenous development.
- NVIDIA warns tech restrictions could backfire by spurring domestic Chinese innovation.