China is prepared to order 500 Boeing 737 Max jets, one of the largest commercial aircraft orders in the planemaker’s history, Bloomberg reported. The deal would deliver a significant win for American manufacturing at a moment when U.S.-China trade relations remain under pressure.
On trade, the two sides are working toward a “Board of Trade” mechanism that would identify roughly $30 billion worth of non-sensitive goods on which each country could reduce tariffs. U.S. Trade Representative Jamieson Greer first proposed the structure in March and described it as a practical “adapter” connecting two incompatible economic systems.
“It’s not really a situation where we go and get China to change the way they govern, the way they manage their economy,” Greer told Fox Business Network last week. “I think there is a world where we find out where can we optimize trade between China and the United States to achieve more balance.”
Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met for three hours Wednesday in Incheon, South Korea, to lay groundwork for the economic proposals Trump and Xi will discuss in Beijing. Neither side issued a statement after the meeting.
Four administration officials familiar with the objectives told Reuters they expected a $30-billion-for-$30-billion tariff reduction framework to be formally launched by the two leaders. Whether specific goods will be identified by Trump and Xi, or whether that detail will be left to follow-on negotiations, remains unclear.
Trump landed Wednesday evening to a red carpet ceremony at which hundreds of young Chinese nationals waved flags and chanted welcome. He was greeted by Chinese Vice President Han Zheng and a military honor guard. Accompanying Trump were his son Eric, daughter-in-law Lara, Tesla chief Elon Musk, and Nvidia CEO Jensen Huang.
Before departing Washington, Trump predicted Xi would receive him warmly and dismissed suggestions the administration needed assistance managing the ongoing Iran conflict. “I don’t think we need any help with Iran,” Trump told reporters. “We’ll win it one way or the other, peacefully or otherwise.”
U.S.-China two-way goods trade fell 29 percent to $415 billion in 2025, down from $582 billion in 2024. The U.S. trade deficit with China dropped 32 percent to $202 billion, its lowest level in two decades, according to U.S. Census Bureau data.
