Trump to press Xi for energy and chip deals during Beijing talks

Trade is the point of this trip. Not a grand bargain, not a reset, and probably not a breakthrough on the hardest security fights. Trump heads into Beijing on May 14 and 15 trying to pull out a few concrete wins he can point to fast — more Chinese buying of U.S. energy, farm goods, maybe Boeing jets, and some workable lane for AI chip sales. The reason that agenda looks so narrow is simple: the bigger U.S.-China relationship is still jammed up by tariffs, technology controls, Taiwan, and the Iran war’s shock to energy markets. ### Why energy first? Because energy is one of the few areas where both governments can imagine a transactional deal without pretending they suddenly trust each other. China needs secure supply, especially with the Middle East still disrupting oil flows. The U.S. wants export demand and a visible headline. That makes LNG and crude the cleanest bargaining chips on the table. (cnbc.com) ### What broke in that trade? Tariffs basically crushed it. U.S. oil and LNG exports to China were worth about $8.4 billion in 2024, then China’s retaliatory tariffs helped choke off most of that trade. The LNG collapse is the sharpest example — U.S. shipments to China were 8.98 million tons in 2021, fell to 4.15 million tons in 2024, and then dropped to just 26,000 tons in 2025. So when people talk about “reviving” energy trade here, they mean rebuilding something that has almost disappeared. (cnbc.com) ### Why are chips in the same conversation? Because chips are where trade and national security now overlap. The U.S. wants to keep the most advanced AI hardware out of China’s hands, but it also does not want to completely shut U.S. companies out of the Chinese market. That is why the discussion is not “sell everything” versus “sell nothing.” It is more like: which downgraded chips can be sold, under what licenses, and with what limits. (energynow.com) Nvidia’s China-specific H20 line has become the symbol of that middle ground. ### Why bring CEOs? Because this trip is designed to look commercial on purpose. Boeing and Citigroup chiefs were expected to join the delegation, and reports said more than a dozen executives from tech, finance, agriculture and manufacturing were invited. That sends a message to Beijing — and to investors back home — that the White House wants purchase orders and business openings, not just photo ops. (builtin.com) ### Could Boeing really be part of it? Very possibly. Analysts and officials have floated Chinese purchases of Boeing aircraft as one of the easiest deliverables to announce if both sides want something tangible. There has even been talk around a much larger potential order, though that kind of number is still contingent and politically loaded. The basic logic is familiar: airplanes are big, visible, and easy to frame as proof that talks produced something real. (cnbc.com) ### So why are expectations still low? Because the hard problems did not go away. Taiwan is still a flashpoint. Export controls are still a fight. China still has leverage in critical minerals. And Trump is arriving with domestic pressure from inflation and higher energy prices, which means he has reason to chase quick wins but less room for a sweeping compromise. Even people who expect a calmer tone mostly see a stability exercise — keep things from getting worse, then pocket a few sector-specific deals. (cnbc.com) ### What’s the bottom line? Basically, this is a summit about salvage. Trump wants Beijing to buy more. Xi wants to keep the relationship manageable without giving up core leverage. If they announce anything meaningful, it will probably be narrow, commercial, and very deliberate — energy cargoes, aircraft, farm goods, maybe chip-license guardrails. That would not remake U.S.-China relations. But it could tell you both sides still prefer managed rivalry to open economic rupture. (cnbc.com)