Trump and Xi Meet in Beijing

President Trump arrived in Beijing Thursday for his first presidential visit to China since 2017, sitting down with President Xi for a two-hour bilateral covering trade, Taiwan, and the U.S.-Iran conflict. Xi invoked the "Thucydides Trap" to frame the stakes, warned that Taiwan independence and cross-strait peace are "irreconcilable," and said mishandling the issue could push the relationship toward "clashes and even conflicts."

On trade, Trump confirmed aboard Air Force One that no tariff reductions were discussed, though USTR Jamieson Greer floated a "Board of Trade" framework targeting at least $30 billion in non-critical goods. The CEOs of Tesla, Nvidia, and Apple joined portions of the bilateral. On Iran, both sides agreed Tehran cannot develop a nuclear weapon and that the Strait of Hormuz must stay open to global energy flows.

• Xi called Taiwan the most critical issue in the bilateral relationship, warning of potential conflict if mishandled; the White House did not mention Taiwan in its readout

• Trump confirmed no tariff deal was reached; Greer proposed a "Board of Trade" covering at least $30 billion in non-critical goods

• China agreed to order 200 Boeing jets, above the 150 units expected; the U.S. separately cleared roughly 10 Chinese firms to purchase Nvidia H200 chips, though no deliveries have been made as Beijing has yet to authorize purchases

Both leaders struck an optimistic public tone, with Xi saying "trade wars have no winner" and Trump calling the future of the relationship "fantastic." Whether the goodwill translates into formal agreements on trade or Taiwan remains unclear.

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