Trump-Xi Summit Ends With Warm Words and Few Confirmed Deals
BBC Business reported Thursday that US President Donald Trump departed Beijing following a two-day Trump Xi summit, declaring he had secured “fantastic trade deals” for both countries. Yet neither Washington nor Beijing formally confirmed any binding commercial agreements.
Ceremony Over Substance in Beijing
Trump arrived Wednesday alongside a prominent business delegation that included executives from aviation, agriculture, electric vehicle and semiconductor industries. Chinese President Xi Jinping rolled out a full ceremonial welcome, including an honour guard, a state banquet, and access to the exclusive leadership compound Zhongnanhai. Trump described the talks as “very successful” and extended a White House invitation to Xi for September. Xi called the visit “historic and landmark,” and China’s Foreign Minister Wang Yi confirmed the return visit would happen in autumn.
Boeing Orders and Soybean Promises Lack Beijing’s Stamp
Speaking to reporters aboard Air Force One, Trump said China had agreed to purchase 200 Boeing jets, with a possible commitment to 750 additional aircraft. Boeing confirmed the deal, which would mark the planemaker’s first significant Chinese order in nearly a decade after years of market exclusion. Trump also stated American farmers would benefit from billions of dollars in Chinese soybean purchases. China’s foreign ministry offered no confirmation of either commitment, with a spokesperson citing only a desire for “mutual benefit and win-win cooperation.”
A Decade of Strained Aviation and Trade Ties
Boeing had been largely locked out of China’s aviation market since trade tensions escalated under earlier administrations. The tariff truce currently in place, struck last October, saw Washington pause steep tariff increases while Beijing eased restrictions on rare earth exports. That truce expires in November, making its extension a critical business priority. Surprisingly, Trump told reporters he and Xi did not discuss tariffs directly. The White House said both leaders agreed to establish a “Board of Trade” to manage economic relations without reopening tariff negotiations. US Treasury Secretary Scott Bessent said in a pre-recorded interview he anticipated progress on a framework supporting future investment.
Tech Rivalries Loom Large Despite Quiet Diplomacy
Tesla CEO Elon Musk and Nvidia CEO Jensen Huang featured prominently throughout the visit. Huang’s last-minute addition to the delegation sparked speculation that advanced chip access had a larger role in discussions than publicly acknowledged. US export controls currently bar Nvidia from selling frontier chips to Chinese buyers, and officials said the topic was not a major talking point. Both Tesla and Nvidia carry significant China exposure, leaving investors watching closely for any regulatory shifts that could follow the summit’s warm but vague conclusions.
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