Trump-Xi summit delivers deals — and exposes fault lines
At the US-China Summit in Beijing, while China focused on pushing a “constructive China-US relationship of strategic stability”, the US looked to advance business deals and kept the Taiwan card close to its chest. While both sides want some kind of stability, it is anyone’s guess when the house of cards would topple. Lianhe Zaobao associate editor Han Yong Hong weighs in on the issue.
US President Donald Trump has finally embarked on his long-awaited visit to China. The lavish delegation consisted of top elites in politics and business, such as Secretary of State Marco Rubio (who was twice sanctioned by Beijing), Treasury Secretary Scott Bessent, Secretary of War Pete Hegseth and US trade representative Jamieson Greer, as well as 17 immensely wealthy US business magnates, including Tesla CEO Elon Musk and Nvidia CEO Jensen Huang.
Some Chinese commentators have noted that with 17 moguls, adding just one more would complete the symbolic “Eighteen Arhats” (or luohan, disciples of the Buddha). It is rare for so many of them to visit China simultaneously, and they clearly have expectations of securing major commercial deals — or, in Huang’s case, advancing the delivery of H200 chips in China.
Incidentally, Trump’s second son, Eric, and his wife are also part of the delegation. As executive vice-president of the Trump Organization, Eric manages the family business and evidently hopes to bring contracts back home.
... it also reflects his [Trump’s] perspective on China-US relations: equal opponents and transactional partners.
Business deals the name of the game
On the morning of 14 May during his meeting with Chinese President Xi Jinping at the Great Hall of the People, Trump remarked that the entrepreneurs had come to “pay respects” to Xi and to China, in the interest of business and trade. He also once again complimented Xi as a “great leader” and his “friend”.
These subtle gestures reveal Trump’s underlying stance: he is here for business. While his polite, low-key demeanour may feel somewhat unfamiliar, it also reflects his perspective on China-US relations: equal opponents and transactional partners. It is worth recalling that ahead of his meeting with Xi in Busan, South Korea, Trump had suddenly declared on social media that China and the US were a “G2”.
This positioning helped to smoothen the China-US summit, making some deals more likely to be reached. Yet many observers remain sceptical about the overall effectiveness of Trump’s current visit, given the deep disagreements and the highly confrontational atmosphere between the two countries.
Analysts also speculate that China may afford Trump ample face-saving gestures to “placate” him, while remaining resolute on substantive issues. For instance, The New York Times cited academics noting that on the evening of 13 May, China dispatched Vice-President Han Zheng, responsible for ceremonial affairs, to welcome Trump at the airport. By contrast, during Trump’s 2017 visit, the airport reception was handled by then-Politburo member Yang Jiechi, signalling a “downgrade” in the level of hospitality.
One of the most significant positive signals is Xi’s proposal to establish a “constructive China-US relationship of strategic stability”, reportedly endorsed by Trump.
China’s preference for ‘positive stability with cooperation’
Such remarks may reflect a somewhat preconceived pessimism. Han Zheng, after all, is a former Politburo Standing Committee member and currently holds a state-level leadership post, so the level of airport reception has not in fact been downgraded. While China is unlikely to accord Trump a higher protocol reception, it will still do its utmost to secure tangible outcomes — and appears to have entered the summit with a certain degree of confidence in achieving them.
One of the most significant positive signals is Xi’s proposal to establish a “constructive China-US relationship of strategic stability”, reportedly endorsed by Trump. According to Chinese state media, Xi told Trump that “constructive strategic stability” means positive stability with cooperation as the mainstay, healthy stability with competition within proper limits, constant stability with manageable differences, and lasting stability with expectable peace. It should require both parties to move in tandem. The Chinese foreign ministry stated that this new framework will provide strategic guidance for China-US relations over the next three years and beyond.
Extracting the key phrases from the characterisation of a “constructive China-US relationship of strategic stability” yields the 16-Chinese character formulation: “cooperation as the mainstay, competition within bounds, differences under control, and peace in prospect” (合作为主、竞争有度、分歧可控、和平可期). This represents another conceptual framing of China-US relations following Xi Jinping’s 2013 call to build a “new type of great power relationship”.
As of yesterday, Washington had not issued any direct response. However, according to a White House briefing released later, Trump and Xi held a “good meeting”, during which both sides discussed expanding market access for American companies into China and increasing Chinese investment in US industries.
One summit, two narratives — or maybe not
The briefing also stated that both sides agreed the Strait of Hormuz must remain open, and that Xi made clear China’s opposition to the militarisation of the Strait and any attempt to impose tolls on its use, while also expressing interest in purchasing more American oil. Both countries further agreed that Iran must never possess nuclear weapons.
... the US reference to China’s stance on the Strait of Hormuz and the Iranian nuclear issue suggests that certain deals may already have been reached behind the scenes.
One summit, two narratives. China’s habitual diplomatic thinking is that the overall positioning must first be clearly defined before practical cooperation can proceed smoothly; otherwise, “if the first button is fastened wrongly, all the remaining buttons will also be fastened wrongly”. In contrast, the US has traditionally shown little enthusiasm for overarching frameworks or rhetorical formulations, preferring instead operational and concrete cooperation or transactions.
Yet on closer reading, the differing Chinese and American narratives are not mutually exclusive, and to some extent implicitly respond to each other’s concerns. For instance, the US reference to China’s stance on the Strait of Hormuz and the Iranian nuclear issue suggests that certain deals may already have been reached behind the scenes. After all, keeping the Strait of Hormuz open and unobstructed serves the common interests of both China and the US.
Status quo maintained on Taiwan Strait
Economic and trade matters were likely the area in which this leaders’ summit produced the most results. The outcome of the meeting in South Korea on Wednesday between Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent has yet to be announced. However, Reuters, citing informed sources, reported that the US would ease trade restrictions on non-sensitive goods. Bessent also gave a “spoiler” on 14 May that China might soon purchase a large number of Boeing aircraft from the US.
Among Xi’s remarks, the sternest warning concerned the Taiwan Strait issue: “If mishandled, the two countries will clash or even come into conflict, pushing the entire US-China relationship into a very dangerous situation.” He also said Taiwan independence and peace across the Taiwan Strait are fundamentally incompatible.
Yet the White House briefing made no mention whatsoever of Taiwan. It neither reiterated that the US does not support Taiwan independence, nor stated opposition to Taiwan independence, and even omitted any reaffirmation of the “one China” policy. This reflects that the Taiwan Strait issue remains the most sensitive issue between China and the US and an important bargaining chip for Washington, and it has not made further concessions.
...although both sides may share some desire for “stability”, China-US relations remain deeply fragile. Once conflict erupts, any understandings painstakingly reached can unravel almost overnight.
This time, there was no grand bargain between the Chinese and American leaders, but even some smaller deals are not insignificant. After Trump leaves China, it is likely that both sides will announce more outcomes, including Xi’s specific mention during the talks that both sides should make better use of communication channels in the political and diplomatic and military-to-military fields, and expand exchanges and cooperation in areas such as the economy and trade, health, agriculture, tourism, people-to-people ties, and law enforcement.
Of course, no one will forget that during Trump 1.0 in 2017, Trump had also made what was widely seen as a successful visit to China, only for the China-US trade war to erupt less than a year later. This shows that although both sides may share some desire for “stability”, China-US relations remain deeply fragile. Once conflict erupts, any understandings painstakingly reached can unravel almost overnight.
This article was first published in Lianhe Zaobao as “特朗普访华一次峰会两套表述”.
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