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.
Expectations for the upcoming Trump-Xi summit in Washington are modest, as both sides aim to avoid making grand declarations. The primary subject of discussion revolves around the busan truce, which ended in October 2025 and will expire around five weeks after the summit. Both nations seek to extend the ceasefire, but they disagree on the duration.
The Chinese desire the extension to last until the end of the Trump administration, while the US administration prefers a shorter extension to maintain leverage over China. A tentative agreement on extending the truce for about a year is expected.
Beijing anticipates an additional $30 billion in duty-free or low-tariff imports in return for fulfilling purchases made in May. In contrast, Washington believes it will secure more purchases in exchange for the extension. Agricultural and aircraft deals are also anticipated, possibly accompanied by signing ceremonies. Trump has previously mentioned possible involvement of Boeing in the deals.
Both economies are facing challenges. US President Donald Trump, who will be facing midterm elections in November, needs victories that impact prices, such as those related to the cost of living. His inflation rate stands at 3.4%, and diesel prices exceed $6 per gallon. On the other hand, Chinese President Xi Jinping grapples with slower economic growth, a massive debt problem, and a growing unemployment rate.
Despite these challenges, China's official growth target for the year is 4.5% to 5%, which is lower than the previous years and barely above expectations.
Notable figures from the technology sector are expected to attend the state dinner held in the White House tent due to unfinished renovations. These individuals include Sam Altman of OpenAI, Nvidia's Jensen Huang, Qualcomm's Cristiano Amon, and Apple chairman Tim Cook. Amidst disagreements within the AI industry, Trump has dismissed the idea of slowing down AI development, which is supported by companies like OpenAI.
Written by urgent.news from Euronews's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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