What’s at stake at the Trump-Xi summit

[BEIJING] US President Donald Trump is scheduled to meet Chinese President Xi Jinping during his visit to Beijing next week, as both countries seek to stabilise a relationship strained by tensions over trade, Taiwan and the Iran war.

Company executives and analysts are not expecting big breakthroughs at the summit, although there could be minor successes such as an extension of a trade truce signed in October. Here are the key issues on the table for the May 14 to May 15 visit, the first by a U.S leader in almost a decade:

Beans, beef & Boeing

Trump will be keen fortrade concessions from Beijing ahead of November’s midterm elections. Both countries are working on a Board of Trade mechanism aimed ​at finding products that will boost trade without compromising each other’s national security or critical supply chains.

The proposals include potential Chinese purchases of US poultry, beef ​and non-soybean crops and a commitment to buy 25 million metric ​tons of soybeans for each of the next three years. The US also wants China to buy Boeing aircraft and US coal, ​oil and natural gas.

China has been ​in prolonged talks with Boeing for a deal that industry sources say could include 500 737 MAX jets, plus dozens of wide-body planes. The deal, which has stalled for years as Trump has threatened to cut off access of critical spare engine parts to China, is waiting to be signed, said Dennis Wilder, a former CIA analyst on China and a senior fellow at Georgetown University.

Tech vs rare earths

Beijing wants the US to ease curbs on exports of advanced semiconductors, and has raised concerns about a Bill to keep critical chip making equipment from China.

The US, meanwhile, wants Beijing to allow shipments of rare earths and critical minerals to US companies. China’s controls on rare earths exports have caused widespread disruptions to US automotive and aerospace manufacturing.

Both countries have been shoring up economic pressure tools that can be used as additional leverage during the talks. Washington in March began investigations into alleged excess industrial capacity and the use of forced labour in China.

In April, the US Treasury Department imposed sanctions on a refinery in China for buying Iranian oil and threatened to impose secondary sanctions on Chinese banks for facilitating such purchases. Beijing has hit back with legal countermeasures.

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Premier Li Qiang signed two new regulations last month granting authorities sweeping powers to investigate foreign firms, governments and individuals that seek to shift their supply chains away from China. The new regulations could also be used to retaliate against Western sanctions on Chinese businesses overseas.

Iran war

US Treasury Secretary Scott Bessent has said that the two presidents will discuss the Iran war, and urged China to “join us in this international operation” to ​open the Strait of Hormuz to international shipping.

The war, which Beijing views as Washington’s responsibility to end, has threatened China’s energy supplies and risks straining its relationship with Gulf countries. But while Beijing worked behind-the-scenes to convince Iran to hold peace talks with the US in Pakistan last month, analysts said it would not want to be seen as doing Trump’s bidding. Iranian Foreign Minister Abbas Aragchi was in Beijing this week and briefed his Chinese counterpart Wang Yi on the talks with the US.

Taiwan

Wang, meanwhile, stressed the importance of the Taiwan issue to China during a call with US Secretary of State Marco Rubio, describing the democratically governed island as “the biggest point of risk” for relations. The US should “keep its promises and make the right ⁠choices in order to open up new space for China-US cooperation”, Wang said.

China claims Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taipei strongly rejects China’s claim and says only Taiwan’s people can decide their future.

People involved in preparations for Trump’s visit, say Beijing has been privately signalling to the Trump administration to change US language on Taiwan independence.

They declined to divulge details, but said it was similar to the request Xi made of former US President Joe Biden at their 2024 summit.

At that time, Xi asked Biden to alter the US position to say “we oppose Taiwan independence”. The current US phrasing is that it “does not support” independence for Taiwan.

Any change in US wording, however subtle, could affect Beijing’s assessment of US resolve to support the island and raise fresh questions about Washington’s security commitments in Asia. REUTERS