Xi-Trump atmospherics welcomed but mask structural rifts: analysts

President Donald Trump and Chinese President Xi Jinping concluded a three-day summit on Friday, with both leaders emphasizing their close relationship despite few concrete outcomes. Analysts suggest this period of relative stability between the two economic and military giants could be a reprieve from the trade war, chest-thumping, and market turmoil experienced last year.

The meeting showcased a degree of restraint, with Xi making a state visit to Washington and receiving a full state visit in return, according to Sara Schuman, a former US diplomat in Beijing. China's Xi stated that the two leaders were "making history" with two summits in four months and two more meetings planned. Trump even greeted Xi at the airport, a gesture typically reserved for lower-level officials.

Both leaders framed China as an equal or near-equal global power, highlighting the "great promise" of their bilateral relationship built on "mutual trust." They also foretold a "truly great friendship" like a "river that never stops flowing" as they "steer the giant ship of China-US relations steadily forward towards the future."

The summit did not address China's global grip on rare earth minerals, which has significantly altered the power balance since Trump's threats of tariffs over 125% during last year's "Liberation Day."

The extension of a two-month trade truce, as well as potential reciprocal trade carve-outs, were among the modest deliverables. However, analysts noted that the frequent meetings between Xi and Trump might hinder the formation of big-dollar deals and structural reforms, which typically took years under previous administrations. The warmth between the leaders, despite underlying mistrust, masks deep reservoirs of competition and rivalry.