Trump brought top CEOs to Beijing but few big deals emerge

The article reporting Day One of the Beijing talks was published, noting warm words and carefully managed symbolism, a lack of sweeping deals, and the key elements of the day including the Boeing jets claim, the Board of Trade proposal, and Taiwan’s central role in the broader relationship.

During the state banquet, Xi invited Trump to the White House on September 24, and officials indicated further discussions would continue ahead of that summit.

Delegations discussed AI guardrails as a priority, with US officials stressing the need to maintain AI leadership while avoiding stifling innovation. US Treasury trade talks chief Scott Bessent cautioned that there is work to be done before mechanisms to support future investment are fully operational.

Trump hoped China could use its influence to stabilise oil flows through the Strait of Hormuz and discussed Iran with Chinese counterparts. Chinese readouts indicated the Middle East was discussed, though details were limited.

Xi told US business leaders that China’s doors will open wider and American firms would have broader prospects in the Chinese market, calling for expanded cooperation in trade, agriculture, healthcare, tourism and law enforcement.

Beijing signaled that Taiwan is a central sensitivity in the bilateral relationship. Xi spoke of a 'new positioning' based on 'constructive strategic stability' but warned that mishandling Taiwan could lead to conflict. The discussions underscored ongoing technology frictions, including export controls on semiconductors, while AI guardrails were discussed as a policy topic.

Discussions covered expanding Chinese market access for US companies and increasing Chinese investment into US industries. Beijing signaled a willingness to increase purchases of US agricultural and energy products, though no firm details were announced on soybeans or other commodities. US officials indicated some progress and noted a potential agricultural deal later in the year.

The White House stated that Trump and Xi agreed to establish a 'Board of Trade' to manage the US-China relationship without reopening tariff negotiations.

Trump said China had agreed to order 200 Boeing jets, their first purchase of US-made commercial jets in nearly a decade. Boeing shares fell more than 4% following the comments.

Officials noted there was no major trade breakthrough or structural agreement on day one. Both sides referenced continuity in the October trade truce, with a White House statement that a 'Board of Trade' would be established to manage the relationship without reopening tariff negotiations. Progress on investment mechanisms was discussed but not yet operational.

Trump and Chinese President Xi Jinping met for more than two hours of talks. Trump described the US-China relationship as the world’s most consequential economic relationship, and the White House called the meeting highly productive. Xi cited past progress in trade talks and warned that mishandling Taiwan could lead to conflict.

Air Force One touched down in Beijing as part of the arrival for US President Donald Trump. Elon Musk stepped off the aircraft ahead of senior officials, with Nvidia chief Jensen Huang also visible near Trump during the welcome ceremony, underscoring the focus on electric vehicles and AI.