President Donald Trump concluded a two-day high-stakes summit in Beijing with Chinese leader Xi Jinping, describing the talks as “very successful” and touting “fantastic trade deals” beneficial to both nations. Chinese officials echoed this positive sentiment, with President Xi characterizing the visit as “historic and landmark.” Despite the warm rhetoric and an elaborate welcome for the US delegation, concrete details regarding significant trade breakthroughs or finalized business agreements remained largely unconfirmed by the Chinese side following the discussions.

During his departure, President Trump informed journalists that China had committed to purchasing 200 Boeing aircraft, with a potential for an additional 750 planes, marking a significant potential order for the American aerospace giant after a nearly decade-long absence from major Chinese deals due to trade tensions. He also indicated that American farmers would benefit from China’s acquisition of “billions of dollars” worth of soybeans. However, official confirmation of these specific deals or purchases was not issued by Beijing. While Trump stated that tariffs were not a direct topic of discussion, the White House later indicated that both leaders agreed to establish a “Board of Trade” aimed at managing their economic relationship without necessitating new tariff negotiations.

The US delegation, which included prominent business leaders such as Tesla CEO Elon Musk and Nvidia boss Jensen Huang, underscored the critical role of technology in bilateral relations. Discussions reportedly touched upon artificial intelligence and access to advanced semiconductor chips, areas where both nations are fiercely competitive. Tesla’s reliance on its Shanghai gigafactory and Nvidia’s desire to resume selling advanced chips to China, despite current US export controls, highlighted the industry’s exposure to the US-China dynamic. Beyond trade and tech, sensitive geopolitical issues also featured, with President Xi issuing a stern warning regarding Taiwan, emphasizing its critical importance to bilateral relations. The conflict in Iran and the stability of the Hormuz Strait were also on the agenda, with the US seeking China’s cooperation in stabilizing the region, while Beijing called for a broader ceasefire.

Despite the prevailing optimism and mutual pledges of expanding cooperation in areas like agriculture, healthcare, and market access for US firms, the summit concluded with many underlying issues still unresolved. President Xi extended an invitation for President Trump to visit the White House in September, signaling an intention for continued high-level engagement. Both sides are expected to maintain discussions in the lead-up to this next summit, with the hope of achieving tangible breakthroughs that proved elusive during the recent Beijing talks, as the world’s two largest economies navigate their complex relationship.