Trump-Xi summit wraps with trade gains, Iran pressure, Taiwan warnings

The Chinese are being very pragmatic—they don't want to be on the wrong side of this.
US trade representative Jamieson Greer explaining why he believes China will limit support for Iran and help keep Middle Eastern shipping lanes open.

In Beijing, two leaders whose nations have long circled each other with suspicion exchanged handshakes and signed agreements on grain and minerals, while quietly enlisting one another's pragmatism on Iran — a reminder that even rival powers share interests when the world's shipping lanes are at stake. The summit produced real commerce and cautious alignment, yet the deeper architecture of US-China rivalry — over Taiwan, over technology, over who shapes the coming century — remained intact beneath the ceremony. What was agreed upon may matter less, in time, than what was left unspoken.

  • A two-day Beijing summit between Trump and Xi yielded billions in agricultural deals and tentative progress on rare earth exports, but semiconductor controls and Taiwan cast long shadows over every handshake.
  • Xi's direct warning that mishandling Taiwan could push relations into 'a very dangerous place' cut through the pageantry, signaling that fundamental fault lines have not shifted despite the cordial optics.
  • US officials left Beijing expressing confidence that China would limit support for Iran and help keep the Strait of Hormuz open — a geopolitical alignment of convenience that both powers framed as mutual self-interest.
  • Boeing's announcement of a 200-jet order from China — the first major commercial deal in nearly a decade — disappointed markets expecting far more, sending shares down over 4 percent and underscoring the gap between summit symbolism and economic reality.
  • A photograph of the negotiating table — no women present from either delegation — went viral overnight, drawing sharp criticism and raising questions about who is truly represented when the world's two largest economies shape the future.

Donald Trump and Xi Jinping closed their two-day Beijing summit with a handshake and a cluster of trade agreements, though the visit revealed as much about the limits of great-power diplomacy as its possibilities.

The most concrete gains were commercial. US trade representative Jamieson Greer confirmed agricultural deals worth double-digit billions were expected to follow Trump's departure, and rare earth exports — the critical minerals Beijing had weaponized during the trade war — showed signs of improvement, if unevenly. Greer acknowledged the flow remained slow and sometimes required direct pressure. The one-year trade truce between the two nations expires in October, and both sides signaled willingness to extend it if current arrangements held. China also agreed to purchase 200 Boeing jets, the first major US commercial aircraft order from Beijing in nearly a decade — though markets had expected far more, and Boeing shares fell over 4 percent on the news.

On Iran, the US came to Beijing seeking a pressure point. Greer expressed confidence that China would limit material support to Tehran and help keep the Strait of Hormuz open. 'The Chinese are being very pragmatic,' he said. 'They don't want to be on the wrong side of this.' Trump told Fox News that Xi likely had the ability to influence Iran's leadership, and both sides appeared to agree that open shipping lanes served their mutual interests.

Beneath the deal-making, however, lay a sharper moment. In a closed session that ran past two hours, Xi warned Trump that mishandling Taiwan could push US-China relations into 'a very dangerous place' — a direct and pointed reminder that the summit's warmth had structural limits. Secretary of State Marco Rubio later said US policy on Taiwan remained unchanged, but Xi's directness suggested that fundamental disagreements persist beneath the ceremony.

Notably absent from the agenda were semiconductor chip controls, despite Nvidia's Jensen Huang receiving a last-minute invitation to join the US delegation. Any breakthrough on advanced chip access for Chinese markets remains distant. And a photograph of the negotiating table — with no women seated from either side — drew swift criticism online, including from Harvard economist Gita Gopinath, whose post attracted more than 33,000 likes and prompted broader questions about representation in the rooms where consequential decisions are made.

The summit secured genuine wins on trade and signaled pragmatic alignment on Middle Eastern stability. But the deeper tensions — over Taiwan, technology, and the balance of power in Asia — left Beijing unresolved, waiting for the next test of whether the pragmatism both sides claimed could actually hold.

Donald Trump and Xi Jinping wrapped up their two-day summit in Beijing on Friday with a handshake and a set of concrete trade agreements, though the visit also surfaced deeper tensions that neither leader could entirely paper over with ceremony and rhetoric.

The most tangible outcome was agricultural: US trade representative Jamieson Greer told Bloomberg that deals worth double-digit billions of dollars in farm product sales to China were expected to follow Trump's departure. Rare earth exports—the critical minerals China had weaponized in its trade war with Washington—showed signs of improvement, though Greer acknowledged the flow remained uneven. Beijing had imposed export controls on rare earths in April 2025 as retaliation for Trump's tariffs, and despite an agreement last October in which the White House claimed China agreed to let shipments flow freely, the reality on the ground was slower and more grudging. "Sometimes it's slow," Greer said. "There are times when we have to go and make our point." The one-year trade truce between the two nations expires in October, and both sides signaled openness to extending it if the current arrangement continued to benefit each country.

On the geopolitical front, the US came to Beijing hoping to enlist China as a pressure point on Iran. Greer expressed confidence that Beijing would limit material support to Tehran and help reopen the Strait of Hormuz, which Iran has threatened to disrupt. "The Chinese are being very pragmatic," Greer said. "They don't want to be on the wrong side of this." Trump told Fox News that Xi Jinping probably had the ability to influence Iran's leadership, and both leaders apparently agreed that keeping the strait open and free from military control served their mutual interests. Trump also announced that China had agreed to purchase 200 Boeing jets—the first major US commercial aircraft order from Beijing in nearly a decade—though markets had expected a much larger number, and Boeing shares fell more than 4 percent on the news.

Yet beneath the pageantry and deal-making lay a warning that neither side could ignore. In a closed-door meeting that stretched past two hours, Xi told Trump that mishandling the Taiwan question could push US-China relations into "a very dangerous place." Taiwan, the self-governed island that Beijing claims as its own, remains the most volatile fault line between the two powers. "The Taiwan question is the most important issue in China-US relations," Xi said. Secretary of State Marco Rubio later told NBC News that US policy on Taiwan remained unchanged and consistent with previous administrations, but the very fact that Xi felt compelled to raise it—and to do so with such directness—suggested that beneath the smiles and toasts, fundamental disagreements persist.

The summit also drew criticism for what was visibly absent from the negotiating table. When Trump and Xi met at Beijing's Great Hall of the People on Thursday, no women from either delegation sat at the table. The image prompted Harvard economics professor Gita Gopinath to post on X: "A painting of the end of meritocracy: A meeting of the two largest economies and not one woman at the table." The post attracted more than 33,000 likes overnight, a stark reminder that the pageantry of great-power diplomacy can obscure deeper questions about who gets a seat at the table when the world's largest economies negotiate their future.

Semiconductor chip exports—a technology flashpoint between Washington and Beijing—did not surface as a major topic of discussion, despite Nvidia chief Jensen Huang receiving a last-minute invitation to join Trump's delegation. Greer confirmed that chip export controls were not on the agenda at the bilateral meeting, suggesting that any breakthrough on allowing advanced chips like Nvidia's H200 to reach Chinese markets remains distant. Trump, meanwhile, told Fox News that he was not going to be much more patient on Iran, though he characterized the Iranian leaders the US was dealing with as reasonable. As Trump prepared to depart Beijing, the two nations had secured some wins on trade and signaled alignment on keeping Middle Eastern shipping lanes open. But the underlying tensions—over Taiwan, over technology, over the balance of power in Asia—remained unresolved, waiting for the next crisis or miscalculation to test whether the pragmatism both sides claimed to embrace could actually hold.

It's really important for China to have the strait of Hormuz open—no tolling, no military control.
— Jamieson Greer, US trade representative
The Taiwan question is the most important issue in China-US relations.
— Xi Jinping
A Conversa do Hearth Outra perspectiva sobre a história
Inventor

Why did the chip question disappear from the table? That seems like the thing that would matter most.

Model

Because neither side wanted to fight about it right now. Trump needed wins he could announce—Boeing jets, agriculture deals, rare earths flowing again. Pushing on semiconductors would have blown up the whole visit. Better to leave it unsaid and come back to it later.

Inventor

So this is theater masking the real disagreement.

Model

Not entirely. The rare earths deal is real. The agriculture sales are real. But yes, the biggest friction points—Taiwan, chips, technology—they just agreed to manage them rather than solve them. That's what Greer meant by being pragmatic.

Inventor

And the Taiwan warning? That felt different.

Model

It did. Xi had to say it. He can't let Trump think Taiwan is negotiable, even if they're getting along. It's a line in the sand, delivered politely but unmistakably. The closed-door meeting running over two hours suggests Xi spent real time on it.

Inventor

What happens in October when the trade truce expires?

Model

That's the test. If both countries feel they're winning, they extend it. If one side feels cheated, the tariffs come back and everything unravels. The agriculture deals and rare earths flow are supposed to make extension look good to both sides.

Inventor

But they're still fundamentally competitors.

Model

Completely. This summit is about managing competition, not ending it. That's actually what makes it fragile.

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