China accuses US of obstructing Huawei cooperation in Argentina

China’s embassy in Argentina has accused the United States of obstructing bilateral cooperation efforts, particularly in relation to Chinese tech giant Huawei. The embassy’s statement claims that the U.S. has been revoking visas to hinder collaboration between an Argentine firm and Huawei. This development is part of the ongoing U.S.–China competition for influence in Argentina, a nation with strong economic ties to China, including participation in the Belt and Road Initiative. The accusation adds to the growing diplomatic tensions between the U.S. and China, as Washington views certain Chinese activities in Argentina as national-security concerns, while Beijing frames these actions as interference in Argentina’s sovereignty. Key Takeaways The accusation by China’s embassy in Argentina appears to reflect increasing diplomatic tensions between China and the U.S. This development suggests that the likelihood of Xi Jinping visiting the U.S. before 2027 may be decreasing, as market pricing is consistent with scenarios of rising tensions. Markets show a slight decrease in confidence in a U.S. visit by Xi, with implied probabilities reflecting this shift. What to Watch Observers will be...