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President Trump and Chinese President Xi Jinping shaking hands. Photo: Nicolas Asfouri/AFP via Getty Images

In case you missed it over the weekend, the U.S. and China announced a truce — for now — in their trade war, and energy is part of the deal.

Why it matters: China's energy thirst is massive. It's now the world's largest oil importer and second largest LNG importer, and also buys coal from abroad despite being the world's largest producer.

  • "Both sides agreed on meaningful increases in United States agriculture and energy exports. The United States will send a team to China to work out the details," the countries said in a wider joint statement.
  • Yes, but: The declaration was largely devoid of details.

What's next, per Axios' Jonathan Swan: More talks. And miles of uncertainty between the two countries — with the added complication of the North Korea negotiations. Because it's President Trump, nothing can be guaranteed.

Be smart: Over in our expert voices section, Graham Allison unpacks the potential for major growth in U.S. LNG and oil exports to China. He writes:

"From the U.S. perspective, selling natural resources is less desirable than selling manufactured products. But by doing so, Trump could credibly claim to cut the bilateral trade deficit by more than half. Moreover, these contracts would allow American companies to secure loans to build oil and gas infrastructure whose construction would employ tens of thousands of American workers."
  • Allison, who's the former director of Harvard Kennedy School’s Belfer Center for Science and International Affairs, looks in particular at the potential for the major LNG export project in Alaska that has been under discussion for months.

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Kellyanne Conway addresses the 2020 Republican National Convention. Photo: Nicholas Kamm/AFP via Getty Images

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Why it matters: If there's a currency in this town, it's power, so we've asked several former Washington power brokers to share their best advice as a new administration and new Congress settle in.

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Pro-Trump holdouts in the House are forging ahead with an uphill campaign to oust Rep. Liz Cheney as head of the chamber's Republican caucus even though Minority Leader Kevin McCarthy told them to back down.

Why it matters: What happens next will be a test of McCarthy's party control and the sincerity of his opposition to the movement. Cheney (R-Wyo.) is seen as a potential leadership rival to the California Republican.

Democrats aim to punish House GOP for Capitol riot

Speaker Nancy Pelosi passes through a newly installed metal detector at the House floor entrance Thursday. Photo: Drew Angerer/Getty Images

House Democrats plan to take advantage of corporate efforts to cut funding for Republicans who opposed certifying the 2020 election results, with a plan to target vulnerable members in the pivotal 2022 midterms for their role in the Jan. 6 violence.

Why it matters: It's unclear whether the Democrats' strategy will manifest itself in ads or earned media in the targeted races or just be a stunt to raise money for themselves. But the Capitol violence will be central to the party's messaging as it seeks to maintain its narrow majorities in Congress.