US-China live updates: Trump meets Xi in Beijing for bilateral talks on trade, Taiwan, tariffs and Iran

Chinese President Xi Jinping’s opening remarks included a term that might leave meaning scratching their heads, but the definition behind the concept is chilling.

“The world has come to a new crossroads. Can China and the US overcome the Thucydides trap and create a new paradigm of relations?” he said.

Thucydides Trap, a term coined by Graham Allison, Harvard’s Douglas Dillon Professor of Government, refers to the precarious situation when an ascending power threatens to displace an established one—a situation that historically has often led to war, according to Harvard.

For years, the US has been global player No. 1.

The leader of the free world.

China and the US are often also referred to as the G2, meaning the two most influential countries in the world.

In Mr Xi’s remarks, he delivered a chilling concept: As China challenges the US for global dominance, can they work together, or will it end in war?

US President Donald Trump and Chinese President Xi Jinping are now locked in closed-door talks where the two are set to discuss the biggest issues between the two nations, the current state of the world and the future.

Tariffs, trade, Iran, Taiwan, the economy, weapon sales and more are all said to be on the agenda, most of which the US and China are vastly opposed on.

China’s public commentary recently has reiterated its stance that Taiwan’s independence is not going to be a future reality, saying reunification is certain and potentially soon.

Interesting, on this trip, Mr Trump has brought along chief executives from Nvidia and Apple, some of the biggest chip players in the world.

And where are those chips made, I hear you ask. Taiwan.

BEIJING — The summit between the leaders of the United States and China in Beijing this week represents a pivotal moment for a global economy that has been upended by war and trade tension over the past year.

US President Donald Trump and China’s top leader, Xi Jinping, will have a full agenda to cover, as the world’s two largest economies look for ways to cooperate on geopolitical matters and tamp down differences over tariffs, export controls, Taiwan, sanctions and purchases of American farm products.

Mr Trump will be seeking to open China’s market to American businesses. But he also wants China to use its leverage over Iran as a top customer for the country’s oil to compel Iranian leaders to reopen the Strait of Hormuz. Mr Xi will most likely be seeking more tariff relief from the United States, a softening of American sanctions targeting Chinese buyers of Iranian oil and a retreat from the US policy of supporting Taiwan’s independence.

The key areas of tension between the world’s largest economies.

Chinese President Xi Jinping earlier gave his opening remarks to Donald Trump before the two commenced closed-door talks in Beijing.

“The whole world is watching our meeting,” Mr Xi said to Mr Trump.

“Currently transformation not seen in a century is accelerating across the globe and the international situation is fluid and turbulent”.

Mr Xi then made clear that these talks were of the utmost importance, set to dictate if the US and China can overcome their differences or not.

“The world has come to a new crossroads. Can China and the US overcome the Thucydides trap and create a new paradigm of relations?” he said.

“Can we meet global challenges together and provide more stability for the world? Can we, in the interest of our world, of our two peoples, and the future of humanity, build a brighter future for our bilateral relations?”

Mr Xi then made clear, using just three words, that right now, the biggest decision-making in the world, which could reshape life around the world, was down to just “you and I”.

“These are the questions vital to history, to the world, and to the people. They are the questions of our times that you and I need to answer as leaders of major countries,” Mr Xi said.

“I always believe that our two countries have more common interests than differences. Success in one is an opportunity for another, and a stable bilateral relationship is good for the world,” he continued.

“China and the US both stand to gain from cooperation and lose from confrontations.

“We should be partners, not rivals. We should help each other succeed and prosper and find the right way for major countries to get along with each other in the new era.”

Mr Xi added he looked forward to “working together with you to set the course for and steer the giant ship of China-US relations, so as to make 2026 a historic landmark year that opens up a new chapter”.

Donald Trump has made his first comments after an enormous welcome ceremony in Beijing, China, as the US President sat down with Chinese President Xi Jinping.

“I want to thank you very much. First of all, that was an honour like few have ever seen before,” Mr Trump said.

The US President spoke highly of the Chinese children who attended as part of the welcome, saying it was the most powerful part, adding, “the military is obvious”.

“You and I have known each other now for a long time,” Mr Trump said directly to Mr Xi.

“We have had a fantastic relationship. We’ve gotten along. When there are difficulties, we have worked it out.

“We’re going to have a fantastic future together.

“I have such respect for China, the job you have done.

“You are a great leader. I say it to everyone, you are a great leader. Sometimes people don’t like me saying it, but I only say what’s true.

“It’s an honour to be with you. It’s an honour to be your friend. The relationship between China and the USA is going to be better than ever before.”

US President Donald Trump and Chinese President Xi Jinping have met outside the Great Hall of the People in Beijing, China.

The two presidents, meeting for the first time since they met in South Korea in October, 2025, shook hands at the welcome ceremony before walking together along a red carpet.

Travelling near Mr Trump as part of his delegation were Apple CEO Tim Cook and SpaceX owner Elon Musk, as well as members of the Trump Administration.