President Donald Trump claims America is profiting from trade with China despite tensions over rare earth minerals, tariffs and emerging technologies like AI. Trump departs Tuesday for a summit in Beijing with Chinese leader Xi Jinping. It will aim to keep the economic relationship stable, with only modest policy announcements expected.
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Here's what to doEsculturas de Leonora Carrington se presentan en laberinto Meat raffles keep a beloved Midwest tradition aliveHow 2 men claimed an absurd record by driving an old 3-wheel car the length of AfricaOne Tech Tip: Why digital devices and online accounts need spring cleaningA PGA golfer took his shirt off and approached a gator-filled hazard.
AP's photographer was readyAsia braces for a second wave of energy shocks from the Iran warExperts wonder 'Where is the CDC?
' as a hantavirus outbreak unfolds on a cruise shipHealth advice is all over social media. Here's how to vet claimsThe barista is human but an AI agent runs this experimental Swedish cafeDid you find an animal nesting near your house? Here's what to doEsculturas de Leonora Carrington se presentan en laberintoPresident Donald Trump, left, and Chinese President Xi Jinping, shake hands after their U.S.-China summit talk at Gimhae International Airport Jinping in Busan, South Korea, Oct. 30, 2025.
WASHINGTON — President Donald Trump claims that America has increasingly profited from trade with China, largely playing down the tensions over rare earth minerals, tariffs and“We’re doing a lot of business with China and making a lot of money,” Trump said last week.
“We’re making a lot of money — it’s different than it used to be. ”, beef and Boeing airplanes. U.S. officials also have teased the creation of a Board of Trade to keep the sides talking on economic issues.
Some in the Trump administration believe “the outcome that matters more than any set of deliverables is stability and space for continued engagement, both to build domestic resilience and to facilitate future deal-making,” said Brett Fetterly, a managing principal at the consultancy The Asia Group who focuses on China. Despite Trump’s claims about making money, China bought nearly $50 billion less in American products last year than it did in 2022, according to U.S. Census Bureau data.and factories by having China import more from the U.S., with the goal of further narrowing a trade imbalance that totaled $202 billion last year.
The United States also now imports more goods from Taiwan than China, a change provoked in part by the AI race that has U.S. firms buying computer chips and servers from But going back to Trump’s first term, China also began to route its U.S.-bound products through other Asian countries, while American companies shifted supply chains for computers and other electronics to Vietnam and India.imported to the U.S. has fallen from 22% at the start of Trump’s first term in 2017 to just 7.5% in the first three months of this year, according to government data analyzed by Chad Bown, a senior fellow at the Peterson Institute for International Economics and co-author of the book “How to Win a Trade War.
”U.S. Trade Representative Jamieson Greer has said he “highlighted” in an April 30 call with Chinese Vice Premier He Lifeng the value of a “new government-to-government Board of Trade. ” Greer indicated the board could improve trade in goods without national security concerns. That could mean agricultural products, for instance, but not computer chips or other sensitive technology. The board also would give the Trump administration an alternative to severe tariff hikes, which have become a logistical and legal problem.
TheThe Trump administration says the U.S. and China would need to get sign-off at home to create the board that could manage tens of billions of dollars in trade. Administration officials also would like to create an investment forum to discuss financing of operations in each country. Traveling to China as part of the U.S. delegation are some 17 CEOs, including Tesla’s Elon Musk, Apple’s Tim Cook and Boeing’s Kelly Ortberg, the White House says.
, so he judges the trade imbalance as the big issue to solve. But Xi sees a world disrupted by climate change and the Iran war, shifts that could “Washington and Beijing are competing at different levels and different domains, with different theories of victory,” said Michael Sobolik, a senior fellow specializing in U.S.-China relations at the Hudson Institute, a conservative think tank.
“President Trump leveraged tariffs not as a weapon against China but as leverage to secure a trade deal. Xi Jinping is angling to win a cold war with the United States. ” The U.S.-Israel war against Iran also is leading to an inflection point on energy, said Ali Wyne, a senior research and advocacy adviser on U.S.-China relations at the International Crisis Group.
Several potential strains could easily upset the cheery talk of friendship — raising questions about whether any meaningful progress can be made at the summit on issues like: — China’s control of the majority of rare earth mining and almost all of the processing for those minerals widely needed for electronics. The Trump administration is trying toto the most advanced computer chips. These chips, designed by companies such as Nvidia and AMD, have the processing power to further develop AI..
Its worldwide exports of vehicles increased 21% last year, according to the China Association of Automobile Manufacturers. China can sell EVs at a much cheaper price than automakers in the U.S., Germany, Italy, Japan and South Korea. — Tariffs. After the Supreme Court struck down Trump’s tariffs, the administration launched national security investigations under a provision of the Trade Act of 1974 toand dozens of tankers and shippers for involvement in transporting Iranian oil.
Beijing responded to the action earlier this month by demanding that no one abide by the U.S. penalties against Chinese businesses. The countries also are jousting over management of the Panama Canal. Tang joined the AP Washington bureau in 2023 after spending 11 years in Beijing as a China correspondent. She covers anything related to the Indo-Pacific region with a focus on U.S.-China competitions
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