The trip and what Beijing is signaling
China's foreign ministry said Abbas Araghchi will be in the country on Wednesday.
Timing and diplomatic backdrop
The announcement came after President Donald Trump on Sunday rejected a Wall Street Journal story claiming Beijing provided Iran satellite imagery of a site in Jordan, assistance the paper said was used for an Iranian attack in July that left three U.S. troops dead. A meeting between Trump and Chinese President Xi Jinping is anticipated for Sept. 24 in the U.S., but Beijing has yet to confirm it.
What the U.S. report found
On Monday, the Pentagon's lead inspector general sent Congress a report covering developments through the end of June that put the Iran war's cost at $33.4 billion as of June 29. It assessed that Iranian strikes caused $184 million in damage to U.S. diplomatic posts located in Iraq, Kuwait, Saudi Arabia and the United Arab Emirates. It also said that U.S. munitions use during the conflict "resulted in strategic inventory shortfalls and revealed industrial base bottlenecks for munitions resupply."
The report recorded the first instance of an F-35A, a fifth-generation jet, taking battle damage from enemy fire. By the end of June, four F-15E fighter jets and one A-10 were confirmed destroyed. Seven KC-135 tankers suffered damage or were written off, seven helicopters were lost, and the U.S. lost more than 30 drones. For context, the Air Force lists the F-35A at $92 million per jet, and it cites a $31.1 million price for the F-15E in 1998. Before the report's release, Trump posted on Truth Social that the U.S. "is producing more Exquisite and Elite Weapons than at any time in our History."
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What it means for your portfolio
Broken gear turns into orders, repairs and budget shifts that move real money. With $33.4 billion spent through June 29, documented damage across bases and aircraft, and munitions stockpiles thinning, expect defense demand and timelines to stay in the spotlight. That spending can ripple to contractors, supply chains and even energy markets. Watch how Washington sequences replenishment and whether those bottlenecks clear or linger.
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