Five Things You Need to Know to Start Your Day

Biden-Xi talks, Hong Kong listings, markets are a little less gloomy, Russia uses gas to wield pressure and announces departure from the space station. Here’s what people are talking about.

President Joe Biden will speak with Chinese leader Xi Jinping on Thursday amid fresh tensions over Taiwan. The first conversation between the two presidents since March will take place at a particularly difficult juncture for US-China ties: House Speaker Nancy Pelosi’s staff and security officials aren’t ruling out plans for her to visit Taiwan in early August. China considers the self-governing island part of its territory. The US Ambassador to China said in June that relations with China have deteriorated to probably “the lowest moment” since diplomatic relations resumed in 1972. Biden also is considering whether to lift some tariffs on Chinese imports in a bid to stem rampant inflation.