us President donald trump Will meet Xi Jinping at a summit on Thursday (May 14). Trump, who is on his first visit to China in 9 years, has reached Beijing with a delegation of top officials and CEOs. Trump and Xi Jinping will meet amid the ongoing turmoil over trade between America and China.
The trade truce between the US and China follows last year’s meeting in Busan, South Korea, which ended hostilities between Washington and Beijing after Trump imposed 145 percent tariffs on China. The US President has reached China to attend a 2-day summit organized to discuss business and artificial intelligence (AI).
Trump will have lunch with Jinping
Before the bilateral talks, Trump will be welcomed by Xi Jinping at a ceremony organized at the Great Hall of the People, after which he will visit the Temple of Heaven. After Thursday’s meetings, Trump will have lunch with Xi Jinping before returning to the US.
talk about business issues
Among the many topics of discussion between the two leaders, trade and economy remain the most important. Given the current situation in the world, Trump and Xi Jinping are expected to try to stabilize relations before further damage is caused to the global supply chain. Due to tensions in trade relations, American companies are looking for suppliers outside China, while Chinese companies are turning to Europe and South-East Asia.
Apart from this, China has stopped purchasing soybeans and has also limited access to important rare minerals and metals. At the same time, America has stopped China from acquiring computer chips. The purpose of the two-day summit is to work on trade issues before relations deteriorate.
Pressure to open Hormuz
Beijing, Iran’s biggest oil consumer, could be pressured to reopen the Strait of Hormuz, especially as the US has imposed sanctions on several Chinese companies that help supply Iran with oil. The blockade of Hormuz has affected the global oil and gas supply chain, causing a worldwide energy crisis.
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