How Trump and Xi went from tariff war to trade truce

President Donald Trump is preparing to host Chinese President Xi Jinping in Washington this week for a summit centered on trade, artificial intelligence, and critical minerals. The meeting marks Xi's first White House visit in a decade, following Trump's trip to China in May. Their discussions will also touch on Taiwan and the ongoing conflict with Iran.

Trump expressed optimism about the summit, stating they will "have a lot of different deals" and "get along very well." The US President has previously criticized China's dominance in manufacturing and competition in areas such as AI and electric vehicles. The White House is under pressure to finalize the $14 billion arms package for Taiwan, with Xi expected to press Trump on the issue.

China's one-year suspension of rare-earth export controls, set to expire on November 10, gives Beijing leverage in negotiations. The summit comes amid the US-Iran war, which has disrupted global energy markets and strained relations between Washington and Beijing. The Trump administration has expressed willingness to pressure China to reduce its oil purchases from Iran, while China may leverage its relationship with Tehran to encourage de-escalation.