Trump-Xi Summit Opens in Beijing as Iran War Casts Shadow Over Talks
Primary region US
Tags Diplomacy · Trade · Economy
Regions US · China
President Donald Trump arrived in Beijing on May 13 for a 36-hour summit with President Xi Jinping, marking the first visit by a US president to China since 2017. The talks cover trade, tariffs, Taiwan, and Iran, but analysts assess that China holds the stronger position. China dominates global rare earth processing (90%) and is Iran's largest oil buyer, while the US is constrained by a third month of war and rising domestic inflation. Trump downplayed Iran as a topic, stating trade would be the main focus, but Treasury Secretary Scott Bessent had earlier called on Beijing to help reopen the Strait of Hormuz. China's Foreign Ministry ordered companies not to comply with recent US sanctions targeting Chinese purchases of Iranian oil. No major trade agreements were announced on the first day.
Strategic interpretation
The summit's outcome may hinge on whether Trump offers tariff relief or tech export concessions in exchange for Chinese cooperation on Iran and rare earth stability. China's leverage stems from its ability to sustain Iran's economy through oil purchases and to restrict rare earth supplies, but Beijing also faces domestic headwinds including a property crisis and slowing demand that may temper its willingness to escalate trade tensions.