President Donald Trump announced on Thursday that a meeting between about 30 leading U.S. business executives and Chinese President Xi Jinping was fruitful. This event took place during his state visit to Beijing, marking his first trip to China since November 2017.
"I'm in China. We had the top CEOs from around the world. There were about 30 of them presenting business opportunities in China to President Xi. I believe they were successful!" Trump declared in a statement released on Thursday.
The business delegation accompanying Trump included some of the most influential figures in American corporate circles: Elon Musk from Tesla, Tim Cook from Apple, Jensen Huang from Nvidia, Larry Fink from BlackRock, Stephen Schwarzman from Blackstone, Kelly Ortberg from Boeing, Jane Fraser from Citigroup, and David Solomon from Goldman Sachs, among others.
The combined market value of the companies represented is estimated at $16.47 trillion, an amount roughly equivalent to 90% of China's GDP projected for 2025. This makes it the largest gathering of private capital ever assembled for a state visit.
Jensen Huang, Nvidia's CEO, was not on the original guest list. Trump personally invited him on Tuesday, and Air Force One made a stop in Anchorage, Alaska, to pick him up. Huang aims to secure approval in China to sell his H200 chips in a market estimated to be worth $50 billion.
Xi Jinping welcomed the presentations with an open message: "China's doors will open wider to American business." He emphasized that U.S. companies are deeply embedded in China's economy, a relationship he believes is mutually beneficial.
Trump expressed optimism about future U.S.-China relations. "The relationship between China and the U.S. will be better than ever," he stated after a roughly two-hour bilateral meeting in the Great Hall of the People.
The visit follows months of intense trade tensions, with Washington having imposed 145% tariffs on Chinese goods, to which Beijing responded with 125% tariffs on American products.
Thursday's agenda included a welcome ceremony with military honors, the bilateral meeting, a visit to the Temple of Heaven—where Trump became only the second U.S. president to visit this historic site, after Gerald Ford in 1975—and a state banquet hosted by Xi Jinping in the Great Hall of the People.
Prior to landing in Beijing, Trump had outlined the main focus of the visit from Air Force One: "We'll be discussing many topics with President Xi. I would say, above all, trade."
The Trump-Xi summit in Beijing is also addressing security issues such as artificial intelligence, Taiwan, and the conflict with Iran. Concrete outcomes are expected to be announced on Friday before Trump's return to the United States.
Key Insights on the Trump-Xi Meeting
Who were some of the prominent CEOs accompanying Trump?
Some of the notable CEOs included Elon Musk from Tesla, Tim Cook from Apple, and Jensen Huang from Nvidia.
What was the estimated market value of the companies represented?
The combined market value of the companies present was estimated at $16.47 trillion.
What was one key focus of the Trump-Xi summit?
Trade was a primary focus, with discussions expected to cover various aspects of the economic relationship between the U.S. and China.