Under Armour Inc.sank after its guidance for this year missed Wall Street projections, weighed down by exiting a partnership with NBA star Stephen Curry and a financial hit from the conflict in the Middle East.

Donald Trump is expecting economic deals and a “wild” welcome this week in China. In reality, he’ll arrive facing an emboldened Xi Jinping, just as his own hand is constrained by the conflict in Iran.

It was only a few months ago when China grabbed the world’s attention with sweeping export controls on critical minerals and rare earth elements. Beijing’s flex gave the US, Europe and other economies fresh momentum to derisk their supply chains from crucial Chinese inputs.

The US and Chinese economies may still be on their way to decoupling but both are drawing strength from the same source.

At Asia’s biggest metal industry gathering last week, a single word dominated almost every conversation — fapiao, China’s humble tax receipt.

Liquefied natural gas deliveries to China are showing signs of recovery, as some buyers replace shipments disrupted by the conflict in the Middle East.