China is pushing the U.S. to loosen its export restrictions on high-bandwidth memory (HBM) chips, ahead of a possible summit between Presidents Donald Trump and Xi Jinping. The HBM chips are vital for advanced artificial intelligence applications and are often integrated with AI processors to maximize performance in handling the large data loads involved in AI training and inference.

President Donald Trump said on Tuesday the U.S. was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement is struck.

MOSCOW (Reuters) -Russian President Vladimir Putin spoke to the leaders of China, India and three ex-Soviet states on Friday in a flurry of calls to brief them on his contacts with the United States about the war in Ukraine.