Despite tech billionaire entourage, Trump leaves Beijing empty-handed

U.S. President Donald Trump ended his state visit to China on Thursday after two days of meetings with Chinese President Xi Jinping. More than a dozen American business leaders accompanied Trump to Beijing, including Tesla CEO Elon Musk, Apple CEO Tim Cook and Nvidia CEO Jensen Huang, as the White House pushed for Chinese purchases of U.S. goods and relief for companies caught in escalating trade and technology disputes. While both governments publicly described the meetings as successful, the summit produced no agreements on Taiwan, tariffs, artificial intelligence restrictions or Iran.

Earlier in the week, Taiwan President Lai Ching-te thanked the U.S. during a video address to the Copenhagen Democracy Summit after the Trump administration continued advancing a multibillion-dollar arms package for Taiwan despite objections from Beijing. “I would like to thank the United States for helping us strengthen our defence capabilities as part of its unwavering commitment to security,” Lai said.

Xi warned Trump during the Beijing meetings that mishandling Taiwan could lead to “clashes and even conflicts,” according to accounts released after the summit. Chinese officials also pressed Washington to halt military support and arms sales to Taipei, one of Beijing’s longest-running demands in relations with the U.S.

Taiwan’s Defense Ministry reported seven Chinese warships operating near the island during the summit period. The activity followed expanded Chinese military exercises around Taiwan after Lai’s inauguration earlier this year. After the Beijing meetings concluded, Secretary of State Marco Rubio said U.S. policy toward Taiwan had not changed and warned that any Chinese use of force against the island would be “a serious mistake.”

Trump promoted expanded Chinese purchases of U.S. goods during the Beijing meetings and later touted an agreement for China to purchase 200 Boeing aircraft. The figure fell short of the 500-jet package anticipated by Wall Street and sent Boeing shares lower after the announcement.

U.S. restrictions on advanced AI chip exports to China remained unchanged after the summit despite repeated objections from Beijing that the controls are intended to slow China’s technological development. The restrictions remain one of the central disputes affecting Nvidia and broader U.S.-China technology relations.

Neither government announced changes involving tariffs, semiconductor controls or broader market access for American companies operating in China. Apple and Tesla also left Beijing without public concessions tied to manufacturing or supply chain pressures facing U.S. firms still heavily tied to the Chinese market.

Trump used the Beijing meetings to press Xi on Iran as disruptions in the Strait of Hormuz continued placing pressure on global shipping routes and energy markets. China remains one of Iran’s largest economic partners and imports significant volumes of Middle Eastern oil through the strait, giving Beijing a direct interest in preventing prolonged instability in the region.

After the meetings, Trump said Xi had agreed not to provide weapons to Tehran. Neither government released a joint statement confirming the claim or outlining specific commitments connected to Iran or Gulf shipping security.

Even without the announced agreements, Xi later described the summit as “historic and landmark,” while Trump called the talks “very successful.”