President Trump and Chinese President Xi Jinping will meet in Beijing on May 14, 2026, for the most consequential US-China summit in nearly a decade. The agenda is dominated by the Iran war and ongoing trade tensions. Trump's delegation includes over a dozen corporate executives, including Elon Musk, Tim Cook, and Larry Fink.
The US priorities, dubbed the "Five B's," focus on Boeing deals, beef and beans exports, and new trade boards, building on the October 2025 Busan truce. China's "Three T's" agenda seeks to extend the trade truce, reduce US support for Taiwan, and ease semiconductor export controls.
The Iran war, costing the US an estimated $29 billion, looms large. China, as Iran's top oil buyer, has leverage as a potential mediator but no obligation to act. Other topics include Taiwan, the South China Sea, and AI governance.
Investors should watch for Boeing aircraft orders as a diplomatic signal, any rollback of chip restrictions, and whether Beijing uses its influence to push for Iran de-escalation.