Donald Trump and Xi Jinping opened a closely watched summit in Beijing on Thursday as the two powers seek to stabilise trade ties while navigating rising tensions over Iran, Taiwan and advanced technology exports.
Xi welcomed Trump at Beijing’s Great Hall of the People with a formal ceremony that included an honour guard and children waving Chinese and American flags.
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“You’re a great leader, sometimes people don’t like me saying it, but I say it anyway,” Trump told Xi during opening remarks.
“There are those who say this may be the biggest summit ever,” Trump added. “It’s an honour to be with you. It’s an honour to be your friend and the relationship between China and the USA is going to be better than ever before.”
Xi stressed the importance of stable relations between the world’s two largest economies.
“When we cooperate, both sides benefit; when we confront each other, both sides suffer,” Xi said, according to China’s state-run Xinhua news agency.
The summit follows preparatory trade talks held in South Korea on Wednesday. Xi described those negotiations as producing an “overall balanced and positive outcome.”
Trade, technology and investment dominate agenda
The two sides aim to preserve a trade truce reached last October after months of escalating tariffs and supply chain disruptions.
Under the agreement, Trump suspended triple-digit tariffs on Chinese goods while Beijing eased pressure on global rare earth supplies that industries rely on for electric vehicles, semiconductors and weapons production.
Trump arrived in Beijing alongside several top US business executives, including Elon Musk, Jensen Huang and Tim Cook.
Musk described the opening talks as “wonderful” while leaving the venue.
Washington wants China to increase purchases of Boeing aircraft, agricultural goods and US energy exports to reduce the trade deficit.
Meanwhile, Beijing seeks relief from American restrictions on advanced semiconductor technology and chipmaking equipment exports.
Analysts say the balance of power has shifted since Trump’s first Beijing visit in 2017.
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Ali Wyne, senior adviser at International Crisis Group, said China no longer needs to convince Washington of its global status.
“This time around it’s the United States, unprompted, of its own volition, that is acknowledging that status,” Wyne said.
Iran war and Taiwan tensions loom over summit
Beyond trade, both leaders also discussed growing tensions in the Middle East and Taiwan.
Trump is expected to push China to pressure Iran into reaching a deal with Washington to ease regional conflict.
US Secretary of State Marco Rubio said China also has strong economic incentives to stabilise the Gulf region because many Chinese vessels remain stuck there.
However, analysts doubt Beijing will significantly reduce support for Tehran because China views Iran as a strategic counterweight to the United States.
Taiwan also remains a major source of friction between Washington and Beijing.
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China renewed opposition this week to planned US arms sales to Taiwan, including a reported $14 billion package awaiting Trump’s approval.
The United States remains legally obligated to provide Taiwan with defensive capabilities despite lacking formal diplomatic ties with the island.
Trump and Xi will continue meetings on Friday, including private discussions, cultural visits and a state banquet.
