Trump and Xi are set to meet

The three-day summit from May 13 to 15 comes amid a delicate trade truce between the world's two biggest economies. Business leaders from major American firms like Boeing, Citigroup, and Qualcomm are expected to join the delegation, hoping to strike new commercial agreements with Chinese partners. This meeting will test whether the fragile pause in tariff battles can evolve into more stable long-term relations.

Tensions escalated after Trump introduced broad import taxes in 2025, sparking retaliatory measures from Beijing that pushed combined tariffs above 100 percent in some cases. A previous face-to-face encounter in South Korea last October helped de-escalate the situation, leading to suspended export controls on critical materials and resumed purchases of American farm goods. However, underlying issues persist, with both sides continuing to issue warnings while navigating court challenges to certain US tariff policies back home.

China enters the discussions from a position of growing resilience, having diversified its export markets and invested heavily in self-reliance in technology and manufacturing. Record export levels have helped cushion earlier shocks, even as domestic challenges like weak consumer spending remain. For the US, priorities likely include securing larger purchases of agricultural products and aircraft components, while addressing concerns over issues like fentanyl flows.

The shadow of the ongoing Iran conflict is also expected to influence conversations, given its ripple effects on global energy markets and supply chains. As both nations weigh economic cooperation against strategic rivalries, the world watches closely to see if this summit can deliver breakthroughs or simply maintain a tense status quo. Success could unlock fresh opportunities for businesses on both sides, while failure risks renewed friction in an already complex global landscape.