Trump presses Xi for limited energy and chip deals in Beijing

This is a trade-and-technology summit disguised as a state visit. Donald Trump is going to Beijing on May 13 for meetings with Xi Jinping on May 14 and 15, and the practical goal looks much smaller than any grand “reset.” He wants a few concrete wins he can point to fast — more Chinese purchases of U.S. energy, maybe some agricultural and aircraft orders, and some movement around chip restrictions. But the gap is obvious: the U.S. and China still distrust each other on almost everything that matters most. ### Why energy first? Because it is the easiest thing to count. China can buy cargoes. Trump can call that a win. And the trade used to be real money. Chinese imports of U.S. oil and LNG were worth $8.4 billion in 2024, before the latest tariff spiral choked most of it off. Since then, China has largely stopped taking U.S. crude, and U.S. LNG volumes have collapsed under a 25% Chinese tariff. (money.usnews.com) ### What does Trump get from that? A simple political headline. Energy purchases look concrete in a way broader diplomatic language does not. They also fit Trump’s style — announce a big number, say jobs are coming, move on. Business groups have been signaling that both sides mostly want “stability” right now, not a breakthrough treaty. That is why the expected deliverables are so commercial: trade, investment, Boeing jets, beef, pork, maybe energy. (money.usnews.com) ### Why are chips in the same conversation? Because chips are the real hard part. China wants relief from U.S. technology controls, especially around advanced AI hardware. The U.S. does not want to hand over strategic advantage. So any chip discussion is likely to be narrow and transactional — less “here’s a new framework” and more “can we carve out a few sales or licenses without blowing up national security politics.” That is also why this summit is being described in such lowered-ambition terms. (pbs.org) ### Why not go bigger? Because the bigger the deal, the uglier the domestic politics. Reports that China had floated up to $1 trillion of investment into the U.S. in exchange for tariff and security concessions set off immediate backlash on the American right. Marjorie Taylor Greene and Laura Ingraham both reacted publicly, and the White House pushed back on the idea that it would trade away national security. Even if that huge number never materializes, the reaction tells you the limit. (foxbusiness.com) Trump can sell purchases. He has a much harder time selling Chinese factories or softer security screening. ### What does Xi want? Basically, predictability. China would like less tariff pressure, fewer shocks around export controls, and a calmer relationship overall. Beijing also has its own asks on Taiwan and technology. That does not mean Xi is in a mood to hand Trump easy wins for free. It means both sides may settle for a narrow bargain where each gets something legible and neither touches the deepest disputes. (thehill.com) ### Why was this summit delayed? The meeting had been expected earlier, but it slipped from March amid the Iran war. That matters because energy prices and shipping risk are now part of the backdrop. In other words, the energy piece is not random — it got more urgent because global supply risk got more visible. (pbs.org) ### Who is this really for? Not just Xi. Not just markets. Trump is also negotiating with his own coalition. He wants to show he can extract commercial gains from China without looking soft on China. That is a narrow lane. Every concession on tariffs, chips, or investment gets inspected by hawks at home. ### Bottom line The likely outcome is not a reset. (bloomberg.com) It is a small-bore bargain — energy cargoes, maybe some purchase announcements, maybe limited tech movement — meant to cool the relationship without rebuilding it. If that happens, Trump gets optics and Xi gets breathing room. The hard fights stay in place. (money.usnews.com) (thehill.com)