U.S. President Donald Trump hailed 'extremely positive and constructive discussions' with Chinese counterpart Xi Jinping during a high-stakes trip to China on Thursday.
Speaking at a state banquet in Beijing, Trump described Xi as a 'friend' and his welcome in China as 'magnificent.' Trump invited Xi to visit the U.S. in September.
'We have a chance to create a future of greater cooperation and prosperity,' Trump said.
Xi, for his part, said he had an 'in-depth exchange of views' with Trump, stressing that the two nations should 'become partners, not rivals.'
Neither leader entered into specifics, but talks are expected to revolve around trade, Taiwan, and artificial intelligence. Earlier, reports indicated Trump and Xi discussed granting U.S. companies more access to the Chinese market.
Chinese state media reported that Xi flagged potential conflicts over Taiwan if handled improperly. Trump said he would raise arms sales to Taiwan.
High-profile executives including Elon Musk, Tim Cook, and Kelly Ortberg joined Trump during his trip. Xi argued that common interests far outweighed differences, urging a renewal in relations by 2026.
Trump said bonds between the U.S. and China will be 'better than ever before.' The trip marks the first Chinese state visit by a U.S. leader in nearly a decade.
U.S. Treasury Secretary Scott Bessent expected large Chinese orders for Boeing aircraft. Discussions also covered energy, agricultural purchases, and potential Chinese investment in the U.S.
Reports suggest progress on Nvidia's H200 AI chip, with expectations of a breakthrough. Bessent said AI talks will be 'fulsome.'
The talks also cover the U.S. and Israeli war on Iran, which has disrupted oil flows. Some analysts suggest Trump may ask China to act as a guarantor on a peace agreement, though Beijing's willingness is uncertain.
