FX.co ★ Leaders signal rapprochement as US tech chiefs join talks on chips, trade, and energy security

Donald Trump and Xi Jinping opened a state visit summit in Beijing on May 14, 2026, with calls for a radical improvement in relations between the world’s two largest economies.

President Xi Jinping said in his welcoming remarks that the time had come to move from rivalry to cooperation and stressed the primacy of shared interests. "China and the United States both stand to gain from cooperation and lose from confrontation. We should be partners, not rivals. I hope that 2026 will be a historic landmark year to carry on the past and open up the future of China-US relations," he said. In response, President Donald Trump described his Chinese counterpart as a great leader and predicted the two countries would reach the highest level of cooperation in their history.

The US delegation included senior executives from major corporations, among them Jensen Huang, chief executive of Nvidia. The presence of technology leaders at the talks pointed to a possible reassessment of restrictions on exports of artificial intelligence chips to China.

Mr. Trump said he planned to press for expanded access for US businesses to the Chinese market and to raise the sensitive issue of arms supplies to Taiwan during the summit. The agenda also covers the impact of the United States and Israel’s military campaign in Iran on stability in Asian energy markets.

Earlier, US Treasury Secretary Scott Bessent and Chinese Vice‑Premier He Lifeng met in South Korea to prepare for the discussions, laying groundwork for official negotiations on securing oil supplies disrupted by the Middle East crisis. Both sides said they intended to work toward joint approaches to ensuring the safety and stability of energy shipments.