Trump news at a glance: president’s China trip was heavy on hype, light on details

Trump China visit yields no trade deal as tariff deadline looms

Muhammad Asghar | GlobalBeat

President Donald Trump left Beijing on Thursday after 3 days of ceremonies that produced no written agreements on trade, tariffs, or fentanyl imports.

The White House had promised “concrete deliverables” before the trip. None materialised.

Trump campaigned on 60% tariffs on Chinese goods. Chinese factories account for 18% of US imports. Businesses on both sides wanted clarity. They got photo-ops instead.

Trump toured the Forbidden City with Xi Jinping, watched a Peking-opera performance, and shared a steak dinner at the Great Wall. The leaders spoke for 6 hours over 3 days, Commerce Secretary Howard Lutnick told reporters on Air Force One. “We discussed every issue. We just didn’t write anything down,” Lutnick said.

The decision to leave without a joint statement surprised even some US officials. Two members of the delegation said they had drafted language on fentanyl precursor chemicals and soybean purchases that Beijing rejected at the last minute. “They wouldn’t commit to numbers,” one official said.

Financial markets, primed for at least a partial truce, slipped on the vagueness. The S&P 500 closed down 0.8% in New York. Soybean futures fell 2.4% in Chicago. The Chinese yuan weakened 0.3% against the dollar in offshore trading.

Chinese state media praised the “positive atmosphere” but carried no editorials promising concessions. The Global Times called the visit “a restart of conversation, not the end of disputes.”

Inside the US delegation, competing camps offered different verdicts. Trade adviser Peter Navarro told reporters China had agreed to “look seriously” at purchasing an extra $20 billion in agricultural goods this year. Treasury Secretary Scott Bessent said talks “would continue” but refused to confirm Navarro’s figure. “Nothing is agreed until everything is agreed,” Bessent said.

Republican senators who had urged Trump to hold firm claimed victory. “No deal beats a bad deal,” Senator Josh Hawley posted on X. Democratic lawmakers called the trip a wasted opportunity. “We got a sword dance and no soy contracts,” Senator Tammy Baldwin said.

Xi hosted Trump in the same state guesthouse that welcomed Barack Obama in 2017. Chinese officials recycled talking points from earlier visits, emphasising “win-win cooperation” and “mutual respect.” They announced no new purchase quotas, tariff reductions, or timelines for implementing previous pledges on intellectual-property protection.

Trump’s own expectation-setting shifted as the trip progressed. Speaking to US business leaders in Beijing on Wednesday, he said: “We’re not looking for a quick fix. We’re looking for the right fix.” The remark contrasted with his pre-departure claim that “the deal will be announced very quickly.”

The trip was Trump’s first to China since winning the 2024 election. His last visit, in 2017, produced $250 billion in memorandums of understanding that mostly failed to materialise. This time, the White House lowered the bar in advance, promising only “progress,” yet still ended up short.

Background

Trump imposed sweeping tariffs on China during his first term, starting with solar panels and washing machines in 2018 and escalating to cover about $370 billion in Chinese goods. Beijing retaliated with duties on US soybeans, cars, and chemicals. The trade war shaved an estimated 0.3% off US GDP and 0.5% off China’s output in 2019, according to Federal Reserve research.

A partial truce, the so-called Phase One agreement signed in January 2020, committed China to buy an extra $200 billion in US goods over two years. China fell short by about 40%, purchasing data from Peterson Institute shows. Trump left office before enforcement mechanisms could be tested. When he returned to the White House in January 2025, he kept most tariffs in place and ordered a new review, due 1 July.

What’s Next

Trump has until 1 July to decide whether to raise tariffs further or grant another exemption period. His aides say he will consult lawmakers and industry groups through June. China’s Commerce Ministry announced its own review of “discriminatory” US export controls, with findings expected “around mid-summer.” Neither side set a date for follow-up negotiations.

The lack of deliverables leaves US ports, farmers, and manufacturers bracing for a summer of uncertainty. Grain traders say Chinese buyers have already cancelled 3 cargoes of US soy scheduled for June shipment. If Trump imposes the promised 60% tariff, the average duty on Chinese imports would jump to 74%, the highest level since the Smoot-Hawley era of 1930. Economists at Oxford Economics estimate that would knock 0.7% off US growth next year and risk tipping the economy into recession.