Trump's Business Delegation Joins China Trip Amid US Trade Leverage

Details from President Donald Trump's meeting with Chinese President Xi Jinping show China still seeks U.S. business, giving Trump the upper hand in trade talks.

Trump brought a high-profile business delegation to underscore the economic ties between the two nations. Xi wants investment and access to American corporate strength, while Trump uses trade pressure and market access to press Beijing.

The group traveling with Trump included Apple's Tim Cook, Tesla and SpaceX's Elon Musk, Nvidia's Jensen Huang, Micron's Sanjay Mehrotra and Meta's Dina Powell McCormick.

Politics and business overlapped before the meetings started. Chinese state media reported Huang joined Trump's trip at the last minute and took a seat on Air Force One, reflecting Nvidia's role in the global chip competition and U.S.-China tech disputes.

Others on the trip were Blackstone's Stephen Schwarzman, BlackRock's Larry Fink, Citigroup's Jane Fraser and Goldman Sachs' David Solomon.

These leaders rank among the world's richest. Musk tops the Bloomberg Billionaires Index as the wealthiest person, while Schwarzman and Huang hold fortunes in the tens of billions.

The group commands trillions in corporate power with strong China links, despite years of trade friction between the largest economies. Their firms depend on Chinese consumers, manufacturing and supply chains amid clashes over tariffs, technology and security.

That clout appeared in the talks. Both sides addressed expanding U.S. company access to Chinese markets, a priority for the executives. Xi said opportunities in his country "will only open wider and wider," per Chinese state media.

Washington considers steps affecting these firms. The U.S. may permit Nvidia to sell its H200 chips, less advanced than its top semiconductors, to select Chinese companies, Reuters reported, as AI and export control disputes persist.

Talks also covered more Chinese investment in the U.S. and purchases of American beef, soybeans and Boeing aircraft, ongoing trade issues.

The cooperative tone included warnings. Xi cautioned against U.S.-China conflict and issued a direct message on Taiwan, a flashpoint for advanced chip production.

Trump views this blend of outreach and tension as his advantage. With U.S. firms chasing access and Beijing welcoming them, he can claim economic pressure succeeds, bolstering tariffs, export controls and stricter trade terms.