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Trade: Trump wants Xi to "open up" China to American firms and to buy more US…

2026-05-13 · 13:50 UTC ·@heyshrutimishra ·1 min read

Brief

The summit agenda lists eight items Trump and Xi will tackle, with priority on trade (extend the one-year tariff truce from the Busan Summit, push China to buy soybeans and Boeing), AI/chips and rare-earth leverage (US ban on Nvidia H200, Jensen Huang present, Chinese export controls), and urgent security issues — Feb 2026 US‑Israel strikes on Iran, a Strait of Hormuz blockade that sent fuel prices up, and Trump’s pledge to discuss Taiwan arms sales with Xi.

Why it matters

Trade: Trump wants Xi to "open up" China to American firms and to buy more US goods — specifically soybeans and Boeing aircraft — while both sides are discussing extending the one-year tariff truce reached at the Busan Summit in October 2025.

Key details

  • AI/chips and supply leverage: The US has blocked sales of Nvidia's H200 chips to China citing military risk; China wants the restrictions lifted, the US seeks concessions in return, and Nvidia CEO Jensen Huang's presence is noted; China also controls global rare-earths used in semiconductors, EVs, and defense, and has used export controls as leverage.
  • Security crises: The US and Israel launched strikes on Iran in February 2026; Trump's aides say the ceasefire is on "massive life support," the Strait of Hormuz is effectively blockaded (it carried ~20% of world oil pre-war) causing global fuel-price spikes, and Trump says he'll discuss US arms sales to Taiwan with Xi, breaking decades-long US practice and putting Taiwan on alert.
Source evidence

  1. Agenda for this meeting:

  2. Trade.

Trump wants Xi to "open up" China to American firms. Both sides are discussing extending the one-year tariff truce they reached at the Busan Summit in October 2025. Trump wants China to buy more US goods, specifically soybeans and Boeing aircraft.

  1. AI and chips.

The US has blocked sales of Nvidia's H200 chips to China citing military risk. China wants those restrictions lifted. The US wants concessions in return. Jensen Huang being in that room is not coincidental.

  1. Iran and the Strait of Hormuz.

This is the most urgent issue. The US and Israel launched strikes on Iran in February 2026. The ceasefire is described by Trump's own aides as on "massive life support." The Strait of Hormuz, through which 20% of the world's oil flowed before the war, is effectively blockaded. Global fuel prices have spiked. Trump needs Xi to pressure Iran to reopen it and return to peace talks.

  1. Taiwan.

Trump publicly said he would discuss US arms sales to Taiwan with Xi, breaking a decades-old US position of never consulting Beijing on the matter. Taiwan is watching every word that comes out of this summit.

  1. Rare earths.

China controls the global supply of rare earth minerals critical to semiconductors, EVs, and defense tech. Export controls on these have been a major pressure point.