US President Donald Trump is set to meet with his Chinese counterpart, President Xi Jinping, on Thursday for a high-stakes summit. Trump, on his first visit to China in nine years, landed in Beijing with a delegation of top officials and CEOs.
The series of meetings between Trump and Xi Jinping will be held amid a “trade truce” between the two nations. The truce, which followed a meeting last year in South Korea’s Busan, paused hostilities between Washington and Beijing after Trump imposed a 145 per cent tariff on China.
Trump begins China visit
The US President is in China for a two-day summit that will include discussions on trade and artificial intelligence.
Ahead of today’s bilateral talks, Trump will be welcomed by Xi Jinping at a ceremony at the Great Hall of the People, followed by a visit to the Temple of Heaven.
After Thursday’s meetings, Trump will hold a working lunch with Xi before leaving for the United States.
What’s on agenda for Trump and Xi?
Among the many topics for the two leaders to discuss, trade and economy remain at the top of the table. With the truce still in place, both Trump and Xi are expected to try to stabilise the relationship before more damage is caused to the global supply chain.
The strain on trade ties has led US firms to seek suppliers outside China, while Chinese firms are moving to Europe and Southeast Asia.
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Furthermore, China has also cut off purchases of soybeans and is also reducing access to crucial rare earth minerals and metals. Meanwhile, the US has blocked China from getting computer chips.
The two-day summit aims to work on the trade before the ties worsen.
The Iran factor
The ongoing US-Israeli war on Iran is also expected to play a key role in the Trump-Xi summit. Before leaving for China, the US President downplayed the impact the US-Iran war would have on his discussions with Xi.
Trump added that Washington will “win” the fight and does not need any help from China.
However, the US may need some diplomatic help from China in order to strike a deal with Iran.
Beijing, Iran’s biggest oil customer, may be asked to apply pressure to reopen the Strait of Hormuz, especially after the US sanctioned several Chinese firms for helping Iran carry out oil shipments.
The blockade of the Hormuz Strait has impacted global oil and gas supply chains, triggering an energy crisis as the route through which at least 20 per cent of the world’s oil and gas passes remains choked.
