What to know about Trump-Xi summit with trade, Taiwan and Iran on the agenda

Presidents Donald Trump and Xi Jinping are preparing for a summit in Beijing, where trade, Taiwan, and Iran are expected to be key topics. Both governments have framed their relationship as stable, but long-standing frictions—including a trade war that escalated under Trump’s first term—persist. Tariffs on Chinese goods reached as high as 145% before a temporary truce was agreed upon in October 2023, with China promising to buy U.S. soybeans and Washington reducing some tariffs. The summit may see a renewed trade agreement, but experts warn it won’t resolve deeper issues. China has introduced new export controls on rare earth minerals, which could be tightened further, and has defied U.S. sanctions by instructing companies to ignore restrictions on Iranian oil purchases. The White House has also signaled plans to establish a new ‘Board of Trade’ to maintain economic dialogue, though past summits lacked the same level of engagement. Taiwan remains a contentious issue, with the U.S. as its primary ally and China insisting on reunification. Meanwhile, Iran’s conflict has drawn Beijing into unofficial mediation efforts, adding another layer to the agenda. Analysts suggest the summit will likely produce limited outcomes, focusing on stability rather than substantive progress. Both sides have taken targeted actions despite the truce, such as China’s new regulations to counter foreign measures against its companies. The fragile ceasefire in trade disputes reflects broader tensions, with neither country willing to fully back down. Experts like Wendy Cutler, a former U.S. trade negotiator, describe the current state as a ‘fragile truce,’ with no clear path forward on major disputes.