Trump touts trade wins as Xi raises Iran and Taiwan concerns

BEIJING: US President Donald Trump touted economic gains and business deals on Friday as he held final talks with Chinese President Xi Jinping in Beijing, even as China raised concerns over Taiwan and said the Iran war should never have happened.

Trump, making the first visit by a sitting US president to China since 2017, has been seeking concrete trade achievements to bolster his domestic political standing ahead of key U.S. midterm elections.

Sitting alongside Xi in a red armchair at the Zhongnanhai leadership compound, Trump said the two sides had made progress on trade.

“We’ve made some fantastic trade deals, great for both countries,” Trump said.

Earlier in the day, the two leaders were seen chatting and walking through the grounds, with Trump commenting on flowers in the garden and Xi reportedly offering to send him seeds. The visit included a lunch featuring lobster balls, Kung Pao scallops and shrimp dumplings.

President Trump said he and Chinese President Xi Jinping discussed Iran during their high-stakes meetings and that the two leaders "feel very similar" on the war.

“We don’t want them to have a nuclear weapon," Trump said on Friday. pic.twitter.com/633QKDUv2W

— CBS News (@CBSNews) May 15, 2026

However, China’s Foreign Ministry issued a sharply worded statement during the final phase of the summit, criticising the ongoing Iran conflict and warning of its global consequences.

“This conflict, which should never have happened, has no reason to continue,” the ministry said, adding that Beijing supported efforts toward a peace settlement amid disruptions to energy supplies and global markets.

Trump said he and Xi had discussed Iran and shared similar views, though Xi did not publicly comment on the matter.

Analysts said Trump had been expected to press China to play a role in persuading Iran to reach a deal with Washington, but doubted Beijing would take a hard line on Tehran, given its strategic value as a counterweight to the United States.

A brief U.S. readout of Thursday’s discussions said both sides expressed interest in reopening key maritime routes, including the Strait of Hormuz, a vital passage for global oil shipments.

TRADE DEALS AND MARKET REACTION

US officials said the two sides had agreed on deals covering agricultural products, beef and energy, and had discussed frameworks for managing future trade ties. They also said both sides expected to identify around $30 billion worth of non-sensitive goods.

However, details remained limited, and there was no breakthrough on advanced semiconductor exports, including Nvidia’s H200 artificial intelligence chips, despite speculation around the issue.

Trump separately told Fox News that China had agreed to purchase 200 Boeing aircraft, though the figure fell short of earlier market expectations. Boeing shares dropped more than 4 per cent following the announcement.

“For the market, the summit can be strategically reassuring while underwhelming in substance,” said Chim Lee, senior China analyst at the Economist Intelligence Unit.

The summit’s most tangible outcome appeared to be maintaining a fragile trade truce reached in earlier talks, under which Washington eased tariffs on Chinese goods and Beijing moderated restrictions on rare earth exports.

US Trade Representative Jamieson Greer said it had not yet been decided whether the truce would be extended beyond its expiry later this year.

TAIWAN WARNING

Tensions over Taiwan surfaced during the talks, with Xi warning that mishandling the issue could lead to conflict, according to officials.

Taiwan, a self-ruled island claimed by China, remains one of the most sensitive flashpoints in U.S.-China relations, with Washington legally obliged to provide Taipei with defensive support.

U.S. Secretary of State Marco Rubio said Washington’s position on Taiwan remained unchanged.

“U.S. policy on the issue of Taiwan is unchanged as of today,” Rubio told NBC News, adding that Beijing “always raises it.”

Taiwan’s foreign ministry thanked the United States for reiterating its support.

At a state banquet on Thursday, Xi described the U.S.-China relationship as the most important in the world, warning that it must be carefully managed.

“We must make it work and never mess it up,” Xi said.

JIMMY LAI CASE RAISED

Rubio also said Trump raised the case of jailed Hong Kong media tycoon Jimmy Lai, who was sentenced in February to 20 years in prison in a national security case.

“The president always raises that case and a couple others,” Rubio said, adding Washington would welcome any arrangement that secured Lai’s release.

Beijing has previously said Hong Kong legal matters are internal affairs and rejects foreign interference in its judicial processes.