Trump arrives in Beijing weakened: Is Xi Jinping now holding all the leverage?

U.S. President Donald Trump arrived in Beijing for a two-day summit with Chinese President Xi Jinping, marking his first visit to China since 2017. The meeting, originally expected to define Trump’s second term, now takes place amid a shifted geopolitical landscape, with Washington facing challenges in containing the Iran conflict, stabilizing energy markets, and navigating mixed trade results. Trump, who campaigned on economic nationalism and strong diplomatic bargaining, now enters negotiations at a weaker position. Trade tensions escalated in April 2025 when his administration imposed tariffs of up to 145% on Chinese imports, prompting Beijing to retaliate by targeting U.S. dependence on Chinese-controlled rare earths and critical minerals. Analysts suggest Xi holds greater leverage, while Trump seeks concrete outcomes to present to American voters ahead of November’s midterm elections. The summit was delayed from mid-April due to Washington’s focus on military operations against Iran, which prolonged the conflict and disrupted energy markets. Trump’s approval ratings have weakened, adding domestic pressure as economic uncertainty grows. Despite his earlier claims of controlling the Iran situation—telling reporters, ‘We’ll win it one way or the other, peacefully or otherwise’—analysts believe U.S. engagement with China on Iran could yield significant diplomatic benefits. Trump acknowledged discussions on Iran with Xi but later downplayed its importance, stating, ‘We have Iran very much under control.’ However, Beijing’s working ties with Tehran remain a key factor in summit negotiations. The meeting aims to address broader strategic and economic themes, though the Iran conflict looms over discussions, complicating efforts to frame the talks as a success for both leaders.