US President Donald Trump and Chinese President Xi Jinping will meet to address trade, AI, and rare minerals, with the Busan trade truce set to expire on November 10. The meeting will take place at the White House, following a US delegation meeting with China’s vice premier to set the agenda.
The Busan agreement, which lifted China’s export limits on rare earths and minerals, is a key component of the trade truce. These materials are essential for automobiles, defense, and technology, including AI hardware. The US seeks a more stable supply of these materials, while Beijing has used its market dominance to engage in trade negotiations.
AI safety will be a major topic of discussion, as requested by business leaders. However, the US is divided on whether to ease restrictions on Chinese technologies, while China wants to see reduced US restrictions. The discussions are also tied to export controls on computer chips and related materials.
The summit will also address sensitive geopolitical issues, including China’s economic ties with Iran and detained foreign nationals. China has threatened to withdraw from the summit if the US approves new arms sales to Taiwan, but both sides are expected to tread carefully without ceding influence.
Washington is pushing for greater access to Chinese products and markets, while Beijing seeks relief from tariffs and restrictions. Both sides have leverage on various global issues, including Africa and Latin America. The meeting in May was symbolic, with few concessions, and analysts expect a similar outcome.
"I think there will be some show of deliverables because of the fact that it's a presidential summit coming, but I don't feel like we're on the verge of some sort of breakthrough," said Anna Ashton, a China trade analyst. The summit is unlikely to result in major changes, with both sides expecting to maintain the status quo.
Source: wired
