President Trump wrapped up his summit with Chinese President Xi Jinping in Beijing this week with little more than handshake optics and aspirational talking points. No deals were signed. No tariff disputes were resolved. No new frameworks emerged on any of the issues that actually move markets.
What happened in Beijing
Trump claimed that China agreed “in principle” to purchase roughly 200 Boeing aircraft, along with additional US soybeans and energy exports. That sounds significant until you notice that no contracts were disclosed, no timelines were set, and no dollar figures were attached.
On the trade front, none of the structural issues that have defined the US-China economic rivalry for years got any closer to resolution. The current tariff truce is set to expire in October, and neither side announced an extension or a path toward one.
Taiwan dominated the geopolitical conversation. Xi warned that the island remains the “most sensitive” issue in the bilateral relationship, cautioning that mishandling it could spark serious conflict. Trump, for his part, said he does not want a “fight” over Taiwanese independence and has not committed to an $11 billion arms package to Taiwan that was previously under discussion.
