Donald Trump said on Friday that Chinese President 
Xi Jinping and his wife Peng Liyuan will visit Washington on September 24, and that the United States will host them at a state dinner. The visit follows Trump's trip to Beijing in May and will be the two leaders' second summit this year, CNA reported. Xi is preparing to bring a large business delegation, two sources told Reuters, an unusual move given US scepticism towards Chinese investment.
What did Trump say? Asked in the Oval Office on Friday what he hoped the meeting would achieve, Trump said the US and China have a very good trade relationship and that, although they are competitors, relations with Xi are very good, CNA reported. He also said the United States would achieve great results together with China.
Why is the delegation unusual? Xi rarely travels abroad with corporate executives, many of whom fell out of favour after Beijing's regulatory crackdowns on the technology, education and property sectors that began in 2020. One source familiar with the discussions said the move partly aims to signal China's willingness to support investment and commercial ties with the US while offering the White House potential economic wins ahead of midterm elections. An official said "the White House is not tracking a Chinese CEO delegation", without the White House explaining what it meant, Channel News Asia reported. Xi last brought a sizeable business contingent to the US in 2015, when China signed a US$38 billion agreement for 300 Boeing aircraft.
What is on the agenda? Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng will meet in early September to discuss summit deliverables, four sources told Reuters. The two countries announced formal trade and investment mechanisms in May. Three sources briefed on the matter said reaching agreement on the Board of Trade is a main US priority alongside more rare earth export licences for US companies, while the Board of Investment is unlikely to produce significant deliverables given the challenging US environment for Chinese investment. Greer said on Thursday that both countries will make "some announcements on agriculture and non-tariff barriers" during the summit, Channel News Asia reported.
What are the expectations? Craig Singleton of the Foundation for Defense of Democracies, in comments CNA cited from CNBC, described a low-expectations summit focused on managing a stalemate rather than resolving it. Associate Professor Sun Taiyi of Christopher Newport University said one key outcome could be agreement to hold more leader meetings.
Figures referenced: Xi Jinping, Donald Trump. — JudgeMarket.
