Key insights
- Trump's visit to China and meeting with Xi Jinping is underway. Discussions are expected to cover trade, tariffs, and geopolitical issues like Taiwan. The avoidance of the 'Thucydides Trap' was explicitly mentioned, highlighting the importance of managing the relationship. Any positive developments could reduce trade tensions and positively influence US equities, while escalating tensions could have the opposite effect.
BEIJING — U.S. President Donald Trump met his Chinese counterpart Xi Jinping in Beijing on Thursday morning for a high-stakes summit that runs through Friday.
The relationship between the two countries is going to be "better than ever before," Trump told Xi in his opening remarks, according to official broadcast footage. Trump said the two leaders have known each other personally for longer than any other U.S. or Chinese president.
Speaking just ahead of Trump, Xi noted the global attention on the meeting, and said a major question for the two countries was whether they could avoid the "Thucydides Trap," according to an official English translation of his Chinese remarks broadcast by CCTV. Thucydides Trap refers to how tensions historically between a rising and ruling power have often resulted in war.
The two presidents are set to have multiple discussions through midday Friday.
Iran, Taiwan and artificial intelligence are among the many topics the two sides are expected to discuss, on top of tariffs and rare earths. The last time a sitting U.S. president visited China was in 2017.
On Thursday, Xi walked down the stairs of the Great Hall of the People in Beijing to shake hands with Trump, according to official broadcast footage. The U.S. president first shook hands with Chinese officials, followed by Xi greeting the U.S. delegation.
China's top diplomat, Wang Yi and Zheng Shanjie, head of the economic planning agency, were among the Chinese representatives, the footage showed.
The U.S. contingent included Secretary of State Marco Rubio as well as business executives such as Tesla's Elon Musk, Apple's Tim Cook and Nvidia's Jensen Huang.
This is a developing story; please refresh for updates.