Trump-Xi summit raises expectations for longer U.S.-China trade truce

U.S. President Donald Trump and Chinese President Xi Jinping held talks in Beijing on May 14, 2026, raising investor expectations for a longer trade truce between the world’s two largest economies and potential easing in technology and commodity tensions. Trump said the discussions were “extremely positive and productive” and invited Xi to visit the U.S. in September. Xi said the countries should be “partners, not rivals,” while warning that mishandling Taiwan could create an “extremely dangerous situation.” The agenda included tariffs, Chinese purchases of U.S. farm and industrial goods, rare earths, fentanyl controls, Taiwan and Iran-related risks. Trump said China would buy 200 Boeing aircraft, while Treasury Secretary Scott Bessent said energy, agriculture and Chinese investment in non-strategic U.S. sectors were discussed. Reuters reported the U.S. approved about 10 Chinese firms to buy Nvidia H200 AI chips, though shipments have not started. Analysts said the summit could formalize a period of stabilization, but warned expectations for progress on Iran and oil-market risks may be too high.