Trump lands in Beijing for high-stakes talks with Xi on trade, Taiwan
Trump arrived in Beijing for his first China visit since 2017, with tariffs, Taiwan and supply chains on the line as Xi tests how far Washington will bend.
Donald Trump landed in Beijing for the first visit by a sitting U.S. president to China in almost nine years, opening talks with Xi Jinping at a moment when trade friction, Taiwan tensions and the Iran war have all raised the stakes for both economies and for markets that still depend on the two countries staying aligned.
The immediate leverage is clear. The White House said the talks were aimed at economic cooperation and expanded market access for American businesses, while the broader agenda also included fentanyl, Taiwan, artificial intelligence and the war involving Iran. For Trump, the most visible gains would be relief on trade pressure, continued rare-earth exports from China and concrete movement on fentanyl-related issues. For Xi, the priority is to protect China’s core interests, keep Taiwan from becoming a military crisis and preserve room for Chinese exporters and investors as Washington keeps technology controls in play.
The meeting also carried the weight of recent precedent. Trump and Xi met in Busan, South Korea, in 2025, where Trump said U.S. tariffs on Chinese imports were cut from 57% to 47% after their discussion. That earlier step showed the narrow bargain both men can still strike: Washington can ease tariffs, and Beijing can signal cooperation on supply chains, rare earths and enforcement against fentanyl trafficking. But each side has a ceiling. Trump can only reduce pressure so far without drawing fire at home, and Xi can only offer so much access without looking weak on issues Beijing treats as strategic.
Taiwan remains the most dangerous flashpoint. Xi has warned Trump that mishandling the island could lead to clashes, or even conflict, underscoring why the issue sits above even trade in the hierarchy of risks. The talks also come amid U.S. arms sales to Taiwan, a recurring source of distrust that complicates any broader reset.
Trump’s return to China also revived the memory of his November 8-10, 2017 state visit, hosted by Xi Jinping. That trip helped define the pattern of high-level engagement that has followed, but the current meeting is more fragile. A substantive breakthrough would mean verifiable movement on tariffs, market access, supply chains and fentanyl cooperation, plus a calmer line on Taiwan. Anything less, including a polished joint appearance without follow-through, will read as theater in markets and in capitals watching for the next shock.
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