Trump Meets Xi in Beijing to Stabilize Trade Amid US-Iran War

President Trump and Chinese President Xi Jinping met in Beijing on Thursday local time to stabilize trade ties amid uncertainty from the United States' war with Iran.

Trump and Xi shook hands outside Beijing's Great Hall of the People on Thursday morning, or late Wednesday night Eastern Time. The leaders stood side by side for an arrival ceremony with a brass band, marching military units and cheering children holding small Chinese and American flags.

The meeting marked the first in-person talks between the American and Chinese leaders since October and the first US presidential visit to China since Trump's 2017 trip to Beijing.

Trump praised Xi ahead of the summit, calling him an "amazing man" and a "great gentleman" who would receive a "big, fat hug."

In a Wednesday evening interview, Secretary of State Marco Rubio told Fox News' Sean Hannity that China ranks as both "our top … challenge, geopolitically" and "the most important relationship for us to manage," describing it as a "big, powerful country."

Just over a year earlier, US-China relations had deteriorated sharply. Trump's tariffs on China and dozens of other partners triggered a trade war, with both sides raising duties on each other's goods above 100% at one point. Disputes also arose over rare earth elements, semiconductors, student visas, fentanyl precursor chemicals, Chinese soybean imports and more.

Tensions have eased since then. Both countries cut back tariffs, and China dropped export restrictions on rare earths. No one knows if a broader trade deal is imminent, but experts say neither wants another trade war, and both seek stability.

The Trump administration wants to secure US access to rare earths and expand American food and other exports to China, issues likely to arise in the Trump-Xi talks. US Trade Representative Jamieson Greer proposed a US-China "Board of Trade" to manage such agreements.

"We'll be talking with President Xi about a lot of different things. I would say more than anything else will be trade," Trump told reporters before leaving for Beijing on Tuesday.

Several US executives joined the trip, including Tesla CEO Elon Musk, Nvidia CEO Jensen Huang and outgoing Apple CEO Tim Cook. They attended Thursday's welcoming ceremony at the Great Hall of the People with Trump administration officials. China represents a vital market for their firms, especially Nvidia's push for advanced chip sales.

The US war with Iran overshadows the talks, though Trump said trade would dominate. He pursues a deal with Iran, but negotiations stall as both sides contest control of the Strait of Hormuz. Trump noted this week that an early April truce halting direct fighting is on "life support."

Some experts warn that US focus on the Middle East, including munitions used in Iran, could hinder preparations for a potential clash with China.

China buys large volumes of Middle East oil and leads global purchases of Iranian oil. It thus feels the war's effects on oil trade keenly and props up Iran's economy.

Rubio told Fox News he expects Iran to surface in talks with Chinese officials. "We've made clear to them that any support for Iran would obviously be detrimental for our relationship," he said. He added that China wants to resolve the conflict's oil disruptions and that the US hopes to persuade it to take a bigger role.

Taiwan remains a flashpoint. China claims it aims to reintegrate the island and has not excluded force against what it calls a breakaway province. The US has sent billions in military aid to Taiwan and opposes unilateral status quo changes but maintains a policy against stating whether it would defend Taiwan in a war with China.