US President Donald Trump and Chinese leader Xi Jinping are meeting in Beijing on Thursday for high-stakes talks, addressing deep tensions between the world's two largest economies.

Trump arrived on Air Force One Wednesday, accompanied by top CEOs including Nvidia's Jensen Huang and Tesla's Elon Musk. He was greeted with a red carpet welcome at Beijing Capital International Airport.

Key issues on the agenda include a potential extension of the one-year tariff truce reached in South Korea last October, the ongoing Iran conflict, and US arms sales to Taiwan. Trump has said he expects a "great big hug" from Xi and hopes to secure new business deals in agriculture and aviation.

Both leaders will attend a state banquet Thursday evening, and Trump will visit the historic Temple of Heaven. A reciprocal visit by Xi to the United States later in 2026 is also expected to be discussed.