What to know about Trump's crucial China visit with Xi Jinping

Added: 2026-05-14

[00:00:00]We're getting this hour with President Trump's high-stakes trip to China. We watched it live right here on CBS News 24/7 in the past hour. President Trump arriving in Beijing on Air Force One.

[00:00:11]This visit coming as the US standoff with Iran in the Strait of Hormuz continues to drag on and it is dragging down Americans pocketbooks. The President was asked about this before heading to China and this was his response.

[00:00:26]Negotiating with Iran, Mr. President, to what extent are Americans financial situation motivating you to make this deal?

[00:00:33]Not even a little bit. The only thing that matters when I'm talking about Iran, they can't have a nuclear weapon.

[00:00:39]I don't think about Americans financial situation. I don't think about anybody.

[00:00:46]All right, a lot to unpack with this visit. You're looking at CBS News foreign correspondent Anna Coreen joining us in Beijing. Anna, you were with us as the President arrived to a very warm welcome but in many ways he is being dragged down by the economic realities back home here in the US. How might that shadow or shape his visit there in the coming days?

[00:01:10]Look, I I'm sure Errol that this is weighing on the President's mind but he is here for this historic visit and and he will want attention on on what China rolls out for him over the coming days.

[00:01:25]It started on the tarmac and let me tell you we're learning more about the Chinese delegation that met him. It was the Chinese Vice President Wang Qishan.

[00:01:34]Now, this is a high-level delegation that that met with Trump when he was first here back in 2017 and Wang Qishan happened to attend Trump's inauguration last year so no doubt it was a a warm welcome. We saw his son Eric Trump, his wife Lara attend and also Elon Musk. He was there along with Jensen Huang from Nvidia. Uh We know that 17 executives will be here, top executives, US executives. And I think perhaps Trump sets the agenda whilst he was up in the air when he posted on Truth Social that he's asking Xi to open up China to corporate America.

[00:02:18]Obviously, there are many regulatory hurdles that that US companies face here and Trump is making that one of his top priorities. He wants to bring home, you know, trade and economic deals to the American people. This is important, incredibly important to him. And the other thing, Errol, that I think I should mention is that last time $250 billion of deals of deals were were signed back in 2017. The following year, the trade war began, the first trade war began. So, those deals didn't materialize. I'm sure these both these leaders are hoping that this summit is is far more successful, Errol.

[00:02:56]Yeah, and Anna, as you mentioned, Jensen Huang, the the founder and CEO of Nvidia, which makes the hardware for artificial intelligence, and Elon Musk were both aboard Air Force One. We saw them deplane. How will artificial intelligence be addressed as a key issue between these two global powers?

[00:03:19]Well, look, they don't like to use the word rivals. They they think of themselves more as as peers and having the strategic partnership. But but but really, there is an AI race that is going on between the US and China. And China is making leaps and bounds. And we know, Errol, that that since President Trump was here almost 9 years ago, China has evolved.

[00:03:44]It's not just a manufacturing powerhouse, but at President Xi's the meeting earlier this year, he he laid out his five-year plan and and he said that he wants China to to focus on science and technology and that involves AI dominating AI. China is dominating many industries these days, electric vehicles, solar, batteries, green technologies. So so this is a definitely a priority for for for President Xi, but but we also know that that that President Xi wants the US to reduce tariffs. He also wants to reduce restrictions on the export of advanced semiconductors.

[00:04:33]He also wants sanctions lifted on Chinese entities. So this is all going to be discussed over the coming days.

[00:04:41]There is a lot to to hash out, but that starts tomorrow at the Great Hall of the People at Tiananmen Square when President Trump will arrive to meet with with President Xi, Errol. Yeah, so much for them to address. Very interesting stuff, Anna Coreen, live for us in Beijing. Anna, thank you.

[00:04:58]For more, we are joined by CBS News Middle East contributor, Courtney Keely.

[00:05:03]Courtney, good morning. We know that for President Trump, the issue and the ongoing war with Iran, the blockade of the Strait of Hormuz, is increasing energy costs. China is a somewhat ally of Iran, being its number one trade partner. How will these two sides try to get on the same page when it comes to peace efforts with Iran?

[00:05:25]Good morning, Errol. Yes, the trade deals between China and Iran come up to 41.2 billion in 2025. Their 80% of Iranian seaborn crude exports goes to China. And the Iranian foreign minister met with the Chinese foreign minister just 7 days ago, a week ago, ahead of this summit and had discussions. So, there's there's no ignoring the fact that Iran is going to dominate some of this summit and the issues are going to reflect on other issues like the Strait of Taiwan.

[00:05:59]And what President Trump does not want, as he said he doesn't need China's assistance, even though we're wondering where President Trump will go next. This is what he had to say about Iran in terms of his China trip.

[00:06:12]No, I don't think we need any help with Iran.

[00:06:15]We're winning one way or the other. Mr. President We're winning peacefully or otherwise.

[00:06:21]So, President Trump has been irate over the Iranians recent proposal on any kind of negotiations. He called it garbage.

[00:06:31]We will be watching to see how Iran responds to this visit, but Iran really taking headlines. And don't forget, Earl, they were supposed to meet before Xi Jinping and Trump, but they had to delay the summit because of the Iran war.

[00:06:46]And Courtney, if we think back to the first Trump administration, he railed against what he said was a trade imbalance with China. Since then, we've seen such an effort to impact tariffs.

[00:06:58]China retaliated.

[00:07:01]Update us on the trade conversation now and what each side may want to walk away with this week.

[00:07:07]Well, when that tariff war was raging, Trump increased tariffs 145% for Chinese imports. And then China responded increasing 125% on tariffs for US goods. Now, they're looking at managed coexistence, a relationship about trade and managed trade as opposed to these inflicting these high percentage rates on tariffs.

[00:07:34]So, it's definitely what they're calling a coexistence and it's definitely managed trade is the operative slogan of this summit.

[00:07:44]All right, Courtney Keeler in Washington. Courtney, always great to see you. Thanks for your insight.