Trump tells Xi he does not discuss US defence of Taiwan
Markets rallied on Thursday ahead of the summit conclusion, with Nvidia shares rising more than 2% after chip export approvals, while Beijing remains silent on trade specifics.
President Donald Trump stated during a two-day visit to China that he told Chinese President Xi Jinping he does not discuss whether the United States would defend Taiwan from China. The remarks were made as the leaders concluded their summit in Beijing, marking the first visit by an American president to the country since 2017.
Trump reported that he also discussed Iran and trade deals with Xi during the visit. He claimed that commercial talks had gone better than the previous summit, which concluded with an institutional framework but no trade agreements. Business leaders accompanying the president, including Elon Musk, Tim Cook, and Jensen Huang, stated their presence was aimed at securing jobs.
The summit agenda covered trade, artificial intelligence, and the Strait of Hormuz. During the visit, Xi presented Trump with seeds of Chinese roses during a tour of the Zhongnanhai compound, a rare honour previously granted to Richard Nixon, George W Bush, and Barack Obama.
China’s foreign ministry released a statement later on Friday, noting that Beijing had been working to help end the conflict in Iran. However, the ministry offered no details on commercial agreements and sidestepped specific questions regarding agricultural and aviation deals.
US stock markets rose on Thursday as the summit commenced. The Dow Jones Industrial Average gained 0.8%, the S&P 500 rose 0.3%, and the Nasdaq Composite climbed 0.2%. Nvidia shares surged more than 2% following news that the US approved H200 chip sales to Chinese firms.
