The White House laid the ground work for Microsoft’s $1.5 billion investment in an Emirati artificial intelligence start-up, a deal meant to box out Beijing.

China remains one of the most important markets for Germany’s export-driven economy, prompting a three-day visit by the German chancellor, who has stressed the importance of open markets.

A Senate committee sent a letter asking the bank whether it had adequately followed procedures before clearing $158 million in payments.

Chancellor Olaf Scholz tried to promote German business interests while delivering warnings from Europe about trade and geopolitical tensions.

Microsoft said it would invest $1.5 billion in G42, an Emirati company with ties to China, as Washington and Beijing maneuver to secure tech influence in the Gulf.

China’s big bet on manufacturing helped to counteract its housing slowdown in the first three months of the year, but other countries are worried about a flood of Chinese goods.