What to expect from the Trump-Xi summit, from tariffs to a possible $30 billion deal
Chinese President Xi Jinping is expected to hold talks with US President Donald Trump in Washington next week, with an expiring trade truce, tens of billions in tariff relief and AI all on the table as both economies need the relationship to hold.
The Trump-Xi summit in Beijing aims to extend the truce on Chinese exports of rare earths and critical minerals, which expires shortly after the meeting. While the Chinese hope for a one-year extension, the US administration seeks a shorter duration to maintain leverage. Both sides anticipate around $30 billion in duty-free or low-tariff imports in return for the commitments made in May.
Additionally, deals on agriculture and aircraft are possible, possibly with signing ceremonies. Trump hopes to boost his midterms campaign with visible price reductions, while Xi faces economic challenges like declining retail sales and investment. The summit framework appears more favorable to Beijing, with US efforts to constrain China proving ineffective.
Business leaders from both countries, including Elon Musk and Sam Altman, are expected to attend, reflecting the industry's high stakes. However, geopolitical concerns like Iran's influence and the Taiwan situation could derail the summit.
Written by urgent.news from Euronews Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
