The administration could potentially hand back over $166 billion following a Supreme Court decision ruling the tariffs illegal.
The fiscal leaders of several states are demanding transparency and consumer fairness as President Donald Trump’s administration seeks to refund billions in international tariffs following a recent Supreme Court loss.
In a February decision, the high court dealt a blow to the president’s trade agenda, ruling by a 6-3 margin that the tariffs he issued under the International Economic Emergency Powers Act were illegal.
Last month, U.S. Customs and Border Protection began accepting applications from importers and brokers who are owed an estimated $166 billion in import tax refunds. While companies are receiving those refunds, it appears that many don’t intend to share those funds with consumers, who paid for much of the tariffs through higher prices.
“We’re the ones who paid it. We’re the ones that need to get it back, and so any system that doesn’t get it to the little guy doesn’t get it to the right place,” Minnesota State Auditor Julie Blaha said on a press call Wednesday.
She was among eight Democratic state fiscal leaders who urged the White House to publicly disclose which firms are receiving tariff refunds and to ensure consumers are not left out.
Blaha said government agencies are well equipped for that task, noting the public websites set up during the coronavirus pandemic that disclosed which companies received pandemic grants and loans. There is currently no public database of tariff refund requests or agency determinations.
“We’re not asking the federal government to do anything they don’t ask of states and local entities or nonprofits to do when they are using some of their funds,” she said. “We know how to do this kind of oversight.”
Blaha said transparency is particularly important since the White House is opposed to repaying the tariffs in the first place. The president has said his administration would “fight” the refund effort, though reports indicate more than $35 billion has already been sent to companies.
Illinois State Treasurer Mike Frerichs said American consumers are suffering from high prices as the president and his inner circle enrich themselves.
“No one trusts the federal government anymore,” he said. “They feel like the deck is stacked against them, and this example just adds further proof to their beliefs.”
State leaders estimated the tariffs cost Illinois consumers nearly $9 billion. But the current process does not ensure that those funds will be returned to consumers.
“Trump’s system is opaque by design, with no guarantee of the $9 billion owed to Illinois families and businesses returning home,” Frerichs said Wednesday. “…Millions of Americans and businesses deserve every penny back.”
The president blasted conservative Supreme Court justices who nixed his tariffs, saying their decision earlier this year was a “disgrace to our nation” as well as “unpatriotic and disloyal to our Constitution.”
He has remained committed to tariffs on foreign imports, believing that they will incentivize manufacturers to build products in the United States rather than overseas.
After the Supreme Court loss, Trump ordered a 10% global tariff, which has also been challenged in court. Last week, the U.S. Court of International Trade granted a permanent injunction to a Florida-based toy manufacturer and a New York-based spice importer that sued the Trump administration over those tariffs.
COVINGTON, Ky. (AP) — Rep. Thomas Massie was stuck in Washington for a vote on Capitol Hill, so one of his supporters made the pitch for his campaign in a banquet hall packed with Republicans in northern Kentucky.
The audience had just heard Ed Gallrein, who was drafted by President Donald Trump to run against Massie in next Tuesday’s primary, describe the congressman as suffering from “a severe case of Trump derangement syndrome.”
Then Gex Williams, a state senator backing Massie, told the audience at the Lincoln Day Dinner not to worry about all that.
“If you are thinking that you can’t be for President Trump and for Thomas Massie, you certainly can be,” Williams said.
Whether voters agree will determine if Massie’s political career survives Trump’s most aggressive attempt to purge the Republican Party of dissenters. The president already succeeded last week in dislodging several Indiana state senators who opposed his redistricting plan, and he’s supporting a primary challenge against U.S. Sen. Bill Cassidy in Louisiana on Saturday.
But nothing compares to the vitriol against Massie, who Trump has called a “moron” and a “nut job” who “will go down as the WORST Republican Congressman.” Trump made an unusual trip to Kentucky to campaign against Massie, and some of the president’s top advisers are working to help Gallrein, a former Navy SEAL.
Massie angered Trump by voting against his signature tax legislation over concerns of adding to the national debt, pushing for the release of the Jeffrey Epstein files and opposing his decision to go to war with Iran. His positions, Massie insists, reflect the America First promises Trump initially made on the campaign trail.
In a Kentucky district where the president won by 35 points two years ago, Massie told The Associated Press that the upcoming primary is “by far the most challenging reelection I’ve ever faced.”
Party loyalty or ideological purity?
The race is playing out across Kentucky’s 4th Congressional District, which sweeps northeast from the outskirts of Louisville along the Ohio River, through the suburbs south of Cincinnati and over to the lush foothills and old coal towns of Appalachia.
Voters here have sent Massie back to Congress ever since his first election in 2012, embracing his stalwart independence and jaunty personality. Back in 2020, they brushed off Trump’s social media demand to “throw Massie out of Republican Party” because he was a “third rate Grandstander.”
Now, Republican voters are debating whether they will do the same thing again.
“If all we’re doing is pulling in yes men, then how do you grow from that? How do you have the best end product if everyone just says, ‘Oh yeah, that’s a great idea,’” said Tonya Young, an attendee of the Lincoln Day Dinner who is leaning toward Massie but still undecided.
“However, I do feel like it’s important to stay loyal. That’s where, I’m like, I’m a hot mess,” said the 57-year-old special education teacher. “Sometimes you have to just bite the bullet and compromise on things.”
Young said she will plumb through the Republican-backed bills that Massie voted against before she makes up her mind. What isn’t a major part of her calculation is Trump’s endorsement of Gallrein or his epithets against Massie.
Young still supports Trump, rating his second term at a “B to a C+” relative to his campaign promises. During Trump’s first term, Young said, she’d “probably put more stock in” his endorsement.
‘I’m going to vote for Massie even though he makes me mad’
At the Lincoln Day Dinner in Covington, well-dressed Republicans sat at circular tables, ate dinner and listened attentively as candidates gave speeches.
Steve Jarvis, a 77-year-old retired law enforcement officer, who stood near the late night coffee station, has decided to vote against Massie for the very first time.
“Made me sad, truly it does,” said Jarvis, wearing a bespoke American flag bow tie made of feathers, “I like Massie.”
When Massie first ran for Congress, Jarvis bought a Massie campaign sign, sized for a freeway overpass, and planted it outside his home, a few doors down from which lived Massie’s opponent.
But some of Massie’s departures from the party, he said, “made me nuts. I can’t do it anymore.”
One was Trump’s flagship Big Beautiful Bill, which Massie voted against citing the consequent budget deficit and increased inflation.
“I understand voting your principle once or twice,” said Jarvis, “but at some point in time when it becomes crucial, I think they have to get in line.”
Gallrein, he said, would get in line.
Jana Kathman came to a different conclusion.
“I’m going to vote for Massie even though he makes me mad,” she said while shopping for bagels at a local farmers market outside Covington.
The 56-year-old registered nurse said, “I just like him as a person, I like how he lives his life, and I know he stands very strong with his convictions.”
Though she still likes Trump, his endorsement and attacks don’t impress her.
“I don’t like when Trump plays the little games as soon as someone opposes him, but we know that’s how Trump lashes out,” Kathman said.
‘Antibodies’ to Trump’s electoral broadside
Gallrein mounted the stage at the Lincoln Day Dinner with a prepared speech. He grew up on a family farm, was inspired by President Ronald Reagan to join the Navy SEALS and was recently asked by Trump to serve his country again in Congress.
He hyped up Trump — “Do you know he doesn’t take a salary?” — and launched into a list of Trump-backed policies Massie had voted against, lumping him in with the “radical Democrats.”
Gallrein declined an interview request, and he’s declined to attend candidate forums and debates with Massie.
Several voters said they were grateful for Gallrein’s service, but still don’t have a grasp of his platform, aside from his fidelity to Trump.
Massie argues that’s why Kentucky should stick with him, using what has become a go-to refrain.
“Politicians promise during the campaign, and then they go to D.C. to go along to get along,” he said. “My opponent is promising to go along to get along.”
Massie is hopeful that Trump’s anger will blow over once he wins the primary.
“Once this race is over, I don’t think there’s any benefit to him attacking me, I’ll have the antibodies from a natural infection,” Massie said chuckling.
After years of being considered a conservative gadfly in Congress, he said, maybe he has some of those antibodies already.
Xi said he and Trump have kept China-US relations “generally stable”.
He added:
Today, president Trump and I had in-depth exchanges on China-US relations and the international and regional dynamics. We both believe that the China-US relationship is the most important bilateral relationship in the world. We must make it work and never mess it up.
Both China and the United States stand to gain from cooperation and lose from confrontation. Our two countries should be partners rather than rivals.
Chinese president Xi Jinping speaks at a state banquet for US president Donald Trump at the Great Hall of the People in Beijing. Photograph: Alex Wong/Getty Images
The supreme court will hand down opinions at 10am ET today. Here’s a reminder of the major cases we’re tracking closely.
Trump v Cook: Donald Trump’s case for firing Federal Reserve governor Lisa Cook, as he continues to exert greater control over the US central bank.
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Trump v Slaughter: A case which examines the legality of Trump’s firing of a Federal Trade Commission (FTC) member, Rebecca Slaughter.
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Trump v Barbara: In which the court will decide if the administration’s attempts to restrict birthright citizenship are unconstitutional.
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In response to a question about the latest data which saw US inflation jump to 3.8%, higher than when Joe Biden left office, Bessent remained undeterred.
“We may get a series, one or two more hot inflation numbers,” the treasury secretary said in an interview with CNBC. “But then I think we’re going to see substantial disinflation.”
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While Trump was feasting with Xi Jinping at a state banquet in Beijing, treasury secretary Scott Bessent predicted that the price of oil will come “trundling” down in an interview with CNBC today.
The treasury secretary pointed to “record production” of oil in the US, as the basis for his argument. This comes as the price for a barrel of Brent Crude – the international benchmark – sits above $100.
“We’re going to keep pumping,” Bessent said. “Which will mean that the look through to inflation will also come down very quickly.”
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US secretary of state Marco Rubio said the US policy on Taiwan is “unchanged” after talks between Donald Trump and Xi Jinping.
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Xi emphasised that Taiwan “is the most important issue in China-US relations”, adding that, if handled poorly, “the two countries will clash or even come into conflict, pushing the entire China-US relationship into a very dangerous place”.
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The US has cleared about 10 Chinese firms to buy Nvidia’s second-most powerful chip in a move that could clear the way for the end of the standoff over tech rivalry.
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The Chinese president questioned whether the US and China “can transcend the “Thucydides Trap” (see earlier post) and forge a new paradigm for great power relations”.
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Xi said he and Trump agreed to establish a “constructive strategic and stable relationship between China and the US” as the new framework for bilateral relations.
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On trade, US and Chinese economic and trade teams “reached an overall balanced and positive outcome” in discussions yesterday.
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Xi said Beijing’s door “to the outside world will only open wider … American companies will enjoy even brighter prospects in China”.
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The White House described the meeting as “good” and that Trump and Xi “highlighted the need to build on progress in ending the flow of fentanyl precursors into the United States, as well as increasing Chinese purchases of American agricultural products”.
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The two leaders “exchanged views on major international and regional issues”, including the Middle East, Ukraine and the Korean peninsula.
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Trump told Xi he is “a great leader and China is a great country, and he deeply respects President Xi and the Chinese people”.
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During the talks, Trump “introduced the business leaders who accompanied him to Xi Jinping one by one”.
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Trump raised a glass to Xi, as he concluded his speech at the state banquet with an invitation to the White House on 24 September.
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Trump makes a toast at the state banquet with China’s President Xi Jinping at the Great Hall of the People in Beijing.”,”caption”:”Donald Trump makes a toast at the state banquet with China’s President Xi Jinping at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Brendan Smialowski/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:false,”summary”:true},”blockCreatedOn”:1778760669000,”blockCreatedOnDisplay”:”08.11 EDT”,”blockLastUpdated”:1778761414000,”blockLastUpdatedDisplay”:”08.23 EDT”,”blockFirstPublished”:1778761414000,”blockFirstPublishedDisplay”:”08.23 EDT”,”blockFirstPublishedDisplayNoTimezone”:”08.23″,”title”:”Here’s a summary of Donald Trump and Xi’s most recent meeting”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05b6b08f08eb526a032edf”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
US secretary of state Marco Rubio said the US policy on Taiwan is “unchanged” after talks between Donald Trump and Xi Jinping.
“Our policies on that have not changed,” Rubio told NBC News. “It’s been pretty consistent across multiple presidential administrations, and remains consistent now.”
Xi warned Trump that disagreements over Taiwan, which China claims as its territory, could bring Beijing and Washington into conflict.
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secretary of state Marco Rubio at the state banquet for Donald Trump and Xi Jinping in Beijing.”,”caption”:”US secretary of state Marco Rubio at the state banquet for Donald Trump and Xi Jinping in Beijing.”,”credit”:”Photograph: Brendan Smialowski/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778759344000,”blockCreatedOnDisplay”:”07.49 EDT”,”blockLastUpdated”:1778759725000,”blockLastUpdatedDisplay”:”07.55 EDT”,”blockFirstPublished”:1778759706000,”blockFirstPublishedDisplay”:”07.55 EDT”,”blockFirstPublishedDisplayNoTimezone”:”07.55″,”title”:”Rubio: US policy on Taiwan ‘unchanged’”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05aeb68f08eb526a032e6c”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The US has cleared about 10 Chinese firms to buy Nvidia’s second-most powerful chip in a move that could clear the way for the end of the standoff over tech rivalry.
n China dominates the global supply of legacy chips, the older style chip used in everything from washing machines to smartphones, cars and medical devices.
n But it lags behind on advanced chips, designed by the likes of Nvidia, used to drive artificial intelligence learning.
n Earlier this year three people were charged in the US with trying to unlawfully divert cutting edge US AI tech to China, a sign of the frenzied demand to compete on AI.
n The presence of Nvidia CEO Jensen Huang, who was not originally expected to join Donald Trump’s trip to China, has raised hopes that a tech deal could be still be rescued.
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CEO Jensen Huang speaks to the media as he arrives for the meeting between Chinese premier Li Qiang and US business representatives in Beijing.”,”caption”:”Nvidia CEO Jensen Huang speaks to the media as he arrives for the meeting between Chinese premier Li Qiang and US business representatives in Beijing.”,”credit”:”Photograph: Go Nakamura/AP”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Nvidia dominates the AI chip market with Mizuho Securities estimating the company supply between 70% and 95% of the chips used for training by OpenAI’s GPT and others.
n Ahead of the summit Trump said he would be asking Xi Jinping to “open up” China to allow their “brilliant people” to “work their magic”, code for permission to allow US trade companies enter the Chinese market.
n Nvidia’s most advanced chips, widely used for training AI models, have faced tighter US restrictions on China sales over the last four years.
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US treasury secretary Scott Bessent said Donald Trump understands the sensitivities around the issue of Taiwan and will speak on the matter in the coming days.
The US president has not commented on Taiwan, the self governing island that Beijing considers its territory, nor was it mentioned in a White House statement of Trump’s meetings with Xi Jinping in Beijing today. The Chinese government, in its readout of the summit, said Xi warned Trump that the Taiwan issue could send relations down a “dangerous” path and even lead to conflict.
In an interview with CNBC, Bessent said: “President Trump understands the issues here and understands the sensitivities around all this, and anyone who has been saying otherwise does not understand the negotiating style of Donald Trump.”
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Trump raises a glass to Xi, as he concludes his speech with an invitation to the White House on 24 September.
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president Donald Trump makes a toast during a state banquet hosted by Chinese president Xi Jinping at the Great Hall of the People in Beijing.”,”caption”:”US president Donald Trump makes a toast during a state banquet hosted by Chinese president Xi Jinping at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Alex Wong/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778755451000,”blockCreatedOnDisplay”:”06.44 EDT”,”blockLastUpdated”:1778755845000,”blockLastUpdatedDisplay”:”06.50 EDT”,”blockFirstPublished”:1778755549000,”blockFirstPublishedDisplay”:”06.45 EDT”,”blockFirstPublishedDisplayNoTimezone”:”06.45″,”title”:”Trump invites Xi to Washington in September”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05a5848f08b0bfaa747645″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Donald Trump is now addressing the state dinner. The US president hailed a “fantastic day” and thanked Xi Jinping for “a magnificent welcome like none other”.
We had extremely positive and productive conversations and meetings today with the Chinese delegation earlier, and this evening is another cherished opportunity to discuss among friends some of the things that we discussed today.
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Trump speaks at a state banquet with Chinese President Xi Jinping.”,”caption”:”Donald Trump speaks at a state banquet with Chinese President Xi Jinping.”,”credit”:”Photograph: Evan Vucci/Reuters”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778754948000,”blockCreatedOnDisplay”:”06.35 EDT”,”blockLastUpdated”:1778755672000,”blockLastUpdatedDisplay”:”06.47 EDT”,”blockFirstPublished”:1778755066000,”blockFirstPublishedDisplay”:”06.37 EDT”,”blockFirstPublishedDisplayNoTimezone”:”06.37″,”title”:”Trump says talks with Xi ‘extremely positive and productive’”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05a3c88f082dc7c0231082″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Xi said he and Trump have kept China-US relations “generally stable”.
Today, president Trump and I had in-depth exchanges on China-US relations and the international and regional dynamics. We both believe that the China-US relationship is the most important bilateral relationship in the world. We must make it work and never mess it up.
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Both China and the United States stand to gain from cooperation and lose from confrontation. Our two countries should be partners rather than rivals.
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president Xi Jinping speaks at a state banquet for US president Donald Trump at the Great Hall of the People in Beijing.”,”caption”:”Chinese president Xi Jinping speaks at a state banquet for US president Donald Trump at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Alex Wong/Getty Images”}}],”attributes”:{“pinned”:true,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778754504000,”blockCreatedOnDisplay”:”06.28 EDT”,”blockLastUpdated”:1778754762000,”blockLastUpdatedDisplay”:”06.32 EDT”,”blockFirstPublished”:1778754674000,”blockFirstPublishedDisplay”:”06.31 EDT”,”blockFirstPublishedDisplayNoTimezone”:”06.31″,”title”:”Xi: ‘US and China should be partners, not rivals’”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05a2108f08b0bfaa74762a”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Xi hailed a “historic visit” as he extended a warm welcome to Trump and other guests.
The people of China and the United States are both great peoples, achieving the great rejuvenation of the Chinese nation and making America great again can go hand in hand.
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We can help each other succeed and advance the wellbeing of the whole world.
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Russian president Vladimir Putin will visit China very soon and preparations for the trip are already complete, Kremlin spokesperson Dmitry Peskov said.
The two men signed a “no limits” strategic partnership in February 2022, less than three weeks before Russia went to war in Ukraine.
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Putin speaks with Xi Jinping after a group photograph during a visit in September 2025.”,”caption”:”Vladimir Putin speaks with Xi Jinping after a group photograph during a visit in September 2025.”,”credit”:”Photograph: Alexander Kazakov/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778751009000,”blockCreatedOnDisplay”:”05.30 EDT”,”blockLastUpdated”:1778751702000,”blockLastUpdatedDisplay”:”05.41 EDT”,”blockFirstPublished”:1778751227000,”blockFirstPublishedDisplay”:”05.33 EDT”,”blockFirstPublishedDisplayNoTimezone”:”05.33″,”title”:”Putin visit to China will ‘take place soon’, Kremlin says”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a058bed8f082dc7c0230f51″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Here is the White House readout of the Trump-Xi summit today, which refers to the Iran war and the strait of Hormuz. But it makes no mention of Taiwan, despite the issue appearing extensively in the Chinese government’s statement of the talks.
President Trump had a good meeting with President Xi of China.
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The two sides discussed ways to enhance economic cooperation between our two countries, including expanding market access for American businesses into China and increasing Chinese investment into our industries. Leaders from many of the United States’ largest companies joined a portion of the meeting.
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The two sides agreed that the strait of Hormuz must remain open to support the free flow of energy. President Xi also made clear China’s opposition to the militarisation of the strait and any effort to charge a toll for its use, and he expressed interest in purchasing more American oil to reduce China’s dependence on the strait in the future. Both countries agreed that Iran can never have a nuclear weapon.
The White House also said Trump and Xi “highlighted the need to build on progress in ending the flow of fentanyl precursors into the United States, as well as increasing Chinese purchases of American agricultural products”.
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Trump sat with officials at the Great Hall of the People in Beijing.”,”caption”:”Donald Trump participates in a meeting with Xi Jinping and other officials at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Evan Vucci/Reuters”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778748397000,”blockCreatedOnDisplay”:”04.46 EDT”,”blockLastUpdated”:1778748995000,”blockLastUpdatedDisplay”:”04.56 EDT”,”blockFirstPublished”:1778748711000,”blockFirstPublishedDisplay”:”04.51 EDT”,”blockFirstPublishedDisplayNoTimezone”:”04.51″,”title”:”White House statement on Trump-Xi talks”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a0587ec8f082dc7c0230f2b”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
We are now getting some comments from the White House on the Trump-Xi summit.
A White House official said Donald Trump“had a good meeting” with Xi Jinping, where they discussed enhancingeconomic cooperation, expanding market access for US businesses into China and increasing Chinese investment.
The official added that the two leaders agreed the strait of Hormuz – which has been effectively shut since the US and Israel began bombing Iran – should remain open.
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We are waiting for the US to issue any comments on the meetings between Donald Trump and Xi Jinping in Beijing today, but the Chinese foreign ministry has released a statement on the talks.
Xi emphasised that Taiwan “is the most important issue in China-US relations”, adding that, if handled poorly, “the two countries will clash or even come into conflict, pushing the entire China-US relationship into a very dangerous place”.
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The Chinese president questioned whether the US and China “can transcend the “Thucydides Trap” (see earlier post) and forge a new paradigm for great power relations”.
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Xi said he and Trump agreed to establish a “constructive strategic and stable relationship between China and the US” as the new framework for bilateral relations.
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On trade, US and Chinese economic and trade teams “reached an overall balanced and positive outcome” in discussions yesterday.
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Xi said Beijing’s door “to the outside world will only open wider … American companies will enjoy even brighter prospects in China”.
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The two leaders “exchanged views on major international and regional issues”, including the Middle East, Ukraine and the Korean peninsula.
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Trump told Xi he is “a great leader and China is a great country, and he deeply respects President Xi and the Chinese people”.
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During the talks, Trump “introduced the business leaders who accompanied him to Xi Jinping one by one”.
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Jinping and Donald Trump attend a welcome ceremony at the Great Hall of the People, in Beijing.”,”caption”:”Xi Jinping and Donald Trump attend a welcome ceremony at the Great Hall of the People, in Beijing.”,”credit”:”Photograph: cnsphoto/Reuters”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778743402000,”blockCreatedOnDisplay”:”03.23 EDT”,”blockLastUpdated”:1778744806000,”blockLastUpdatedDisplay”:”03.46 EDT”,”blockFirstPublished”:1778744705000,”blockFirstPublishedDisplay”:”03.45 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.45″,”title”:”What Xi and Trump discussed, according to Chinese statement”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a0571e88f08eb526a032ba8″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Xi Jinping lauded a new era of US-China relations after hosting meetings with Donald Trump in Beijing.
Xi Jinping emphasised that China is committed to the stable, healthy, and sustainable development of China-US relations. He stated that he and president Trump agreed to establish a “constructive strategic and stable relationship between China and the US” as a new positioning for China-US relations, which will provide strategic guidance for China-US relations for the next three years and beyond, and is believed to be welcomed by the people of both countries and the international community. “Constructive strategic stability” should be positive stability based on cooperation, benign stability with moderate competition, normalised stability with manageable differences, and lasting stability with a promising future of peace. “A constructive strategic and stable relationship between China and the US” is not just a slogan, but should be a matter of concerted action.
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Jinping shakes hands Donald Trump at the Great Hall of the People in Beijing.”,”caption”:”Xi Jinping shakes hands Donald Trump at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Kenny Holston/AP”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778741736000,”blockCreatedOnDisplay”:”02.55 EDT”,”blockLastUpdated”:1778742047000,”blockLastUpdatedDisplay”:”03.00 EDT”,”blockFirstPublished”:1778742047000,”blockFirstPublishedDisplay”:”03.00 EDT”,”blockFirstPublishedDisplayNoTimezone”:”03.00″,”title”:”Xi hails new era of ‘constructive strategic stable relationship’ with US”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a056c0e8f082dc7c0230e94″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Taiwan has issued a statement after Donald Trump and Xi Jinping wrapped up their summit in Beijing today, warning that China is the “sole risk” to regional peace and stability.
It came after the Chinese leader delivered a warning of his own to the US president, saying the Taiwan issue, if not handled well, could lead to conflict and push China-US relations into “a very dangerous place”.
Taiwan’s foreign ministry has pushed back, saying China is “currently the sole risk to regional peace and stability”. It pointed to China’s “military harassment” and grey-zone activities around Taiwan and the region as evidence, adding that “Beijing has no right to make any claims on behalf of Taiwan internationally”.
Earlier, Taiwan cabinet spokesperson Michelle Lee said Taiwan was grateful for the US’s “long-term support” and that Washington has “repeatedly reiterated its firm and clear position of support” for the island.
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television news programme at a restaurant in Taipei shows the meeting between Donald Trump and Xi Jinping in Beijing.”,”caption”:”A television news programme at a restaurant in Taipei shows the meeting between Donald Trump and Xi Jinping in Beijing.”,”credit”:”Photograph: I-Hwa Cheng/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778740238000,”blockCreatedOnDisplay”:”02.30 EDT”,”blockLastUpdated”:1778743323000,”blockLastUpdatedDisplay”:”03.22 EDT”,”blockFirstPublished”:1778741232000,”blockFirstPublishedDisplay”:”02.47 EDT”,”blockFirstPublishedDisplayNoTimezone”:”02.47″,”title”:”Taiwan says China is ‘sole risk’ to regional peace and stability”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a05694b8f08b0bfaa747410″,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Donald Trump and Xi Jinping discussed the wars in the Middle East and Ukraine as well as North Korea during talks in Beijing, the Chinese foreign ministry said.
“The two heads of state exchanged views on major international and regional issues such as the situation in the Middle East, the Ukraine crisis, and the Korean peninsula,” the ministry said in a statement.
It remains to be seen whether the US president can convince the Chinese leader to help him end the war with Iran. China is a close ally of Iran and the world’s biggest buyer of Iranian oil.
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In case you’re just joining us, here’s a recap of the day’s main events as Donald Trump and Xi Jinping kicked off their high-stakes summit in Beijing, where it’s now 2pm.
Xi and Trump began a series of meetings on Thursday in a two-day US-China summit that is expected to cover divisive issues ranging from trade, technology and Taiwan to the Iran war but with few breakthroughs expected.
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Xi said at the start of about two hours of bilateral talks in the Great Hall of the People on Thursday that 2026 marked 250 years of US independence and that stability in the US-China relationship was necessary for global stability.
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Trump said Xi was a “great leader” and that the two countries’ relationship was “going to be better than ever”.
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Xi later told Trump their countries could come into conflict if the issue over self-ruled Taiwan claimed by Beijing was mishandled, Chinese state media said. “The Taiwan question is the most important issue in China-US relations,” Xi said.
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Marco Rubio said US officials would try to persuade China to take a more “active role” in resolving the conflict in Iran, the US secretary of state told Fox News while en route to China.
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Trump also hopes to focus talks on trade and deals for China to buy more agricultural products and passenger planes, setting up a board to address their differences and avoid a repeat of the trade war ignited last year after Trump’s tariff hikes.
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Trump inspects an honour guard during a welcome ceremony with Xi Jinping outsidse the Great Hall of the People in Beijing”,”caption”:”Donald Trump inspects an honour guard during a welcome ceremony with Xi Jinping outside the Great Hall of the People in Beijing.”,”credit”:”Photograph: Evan Vucci/Reuters”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
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Xi told a delegation of US business executives that China would “open wider” to the world. “American companies will enjoy even brighter prospects in China,” Xi was quoted by Chinese state media as saying amid the summit. Tesla chief Elon Musk, Nvidia boss Jensen Huang and Apple head Tim Cook are among the business leaders who travelled with Trump to Beijing.
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China has renewed export licences for hundreds of US beef processing plants, customs data showed, in a possible goodwill gesture amid the Beijing summit.
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Trump and Xi visited Beijing’s historic Temple of Heaven after concluding their talks, and are to attend a state banquet later on Thursday. Trump is expected to leave just after midday on Friday after a final private meeting with Xi.
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Asian shares were mixed on Thursday as investors closely monitored takeaways from the summit. With news agencies
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China has renewed export licences for hundreds of US beef processing plants, customs data showed, in a possible goodwill gesture as the leaders of both countries met in Beijing.
More than 400 US beef plants lost export eligibility over the past year as Beijing’s permissions – granted between March 2020 and April 2021 – lapsed without the customary renewal, accounting for roughly 65% of the once-registered facilities.
Agriculture has been expected to play a big part in any trade deal and the renewals are the first official pointer to likely elements of a final package shaping in the talks between Donald Trump and Xi Jinping, Reuters is reporting.
“This shows China has released some goodwill gestures in areas that aren’t too critical to US-China trade relations,” said Xu Hongzhi, a senior analyst at Beijing Orient Agribusiness Consultants.
Cargill CEO Brian Sikes is among the US CEOs accompanying Donald Trump to Beijing. Plants owned by Cargill and Tyson Foods were included in the renewal.
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Xi Jinping has told a delegation of US business executives that China will “open wider” to the world.
“China’s doors to the outside world will open wider and wider… American companies will enjoy even brighter prospects in China,” Xi was quoted by Chinese state media as saying during the US-China summit in Beijing on Thursday.
Tesla chief Elon Musk, Nvidia boss Jensen Huang and Apple head Tim Cook are among the contingent of business leaders who reportedly travelled to Beijing with Donald Trump.
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secretary of defence Pete Hegseth (bottom left) speaks with US treasury secretary Scott Bessent (bottom centre right), as Tesla and SpaceX CEO Elon Musk uses his phone and Apple CEO Tim Cook looks on at a welcome ceremony at the Great Hall of the People in Beijing.”,”caption”:”US secretary of defence Pete Hegseth speaks with US treasury secretary Scott Bessent, as Tesla and SpaceX CEO Elon Musk uses his phone and Apple CEO Tim Cook looks on at a welcome ceremony at the Great Hall of the People in Beijing.”,”credit”:”Photograph: Brendan Smialowski/AFP/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778736888000,”blockCreatedOnDisplay”:”01.34 EDT”,”blockLastUpdated”:1778739510000,”blockLastUpdatedDisplay”:”02.18 EDT”,”blockFirstPublished”:1778737345000,”blockFirstPublishedDisplay”:”01.42 EDT”,”blockFirstPublishedDisplayNoTimezone”:”01.42″,”title”:”Xi tells US business leaders China ‘will open wider’ doors to world – report”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a054c188f082dc7c0230dcf”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Xi Jinping has told Donald Trump their countries could come into conflict if the issue over self-ruled Taiwan claimed by Beijing is mishandled, Chinese state media said.
If mishandled, the two nations could collide or even come into conflict, pushing the entire China-US relationship into a highly perilous situation.”
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Jinping with Donald Trump at the Great Hall of the People.”,”caption”:”Xi Jinping with Donald Trump at the Great Hall of the People.”,”credit”:”Photograph: Maxim Shemetov/Reuters”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Chinese state-run news agency Xinhua quoted Xi as telling Trump that if the Taiwan issue was not handled well, the two countries would clash or even come into conflict, pushing China-US relations into “a very dangerous place”.
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References to ancient Greece may not have been high on today’s prediction list, but that is exactly what Xi Jinping did when he welcomed Trump in Beijing today.
Xi name-checked an ancient Greek historian to express his hopes that the US and China can avoid conflict, saying that history, the world and its people were asking whether the two countries can transcend the “Thucydides Trap” and forge a new model for relations between major powers.
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president Donald Trump is greeted by Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People on 14 May, 2026 in Beijing, China.”,”caption”:”US president Donald Trump is greeted by Chinese President Xi Jinping during a welcome ceremony at the Great Hall of the People on 14 May, 2026 in Beijing, China.”,”credit”:”Photograph: Alex Wong/Getty Images”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
He was using a term that’s popular in foreign policy studies, referring to the idea that when a rising power threatens to displace an established power, the result is often war.
It comes from Thucydides’ account of the destructive Peloponnesian War between Athens and Sparta, in which he remarked that: “It was the rise of Athens, and the fear that rise engendered in Sparta, that made war inevitable.”
The question before China and the United States, he said, is “whether the two countries can work together to meet challenges and bring greater stability to the world”.
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Presidents Donald Trump and Xi Jinping have started their bilateral talks inside the Great Hall of the People, China’s grand national legislature.
In opening remarks, Xi noted that 2026 marks 250 years of US independence and said that stability in the US-China relationship was necessary for global stability.
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Trump said that he and Xi have “known each other for a long time” and that Xi was a “great leader”.
“I say to everybody you’re a great leader,” Trump told Xi. “Sometimes people don’t like me saying it, but I say it anyway, because it’s true.”
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Trump told him in reply that the relationship was “going to be better than ever”.
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Donald Trump has met Xi Jinping in Beijing and a welcome ceremony is under way outside the Great Hall of the People.
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Trump inspects an honour guard during a welcome ceremony with Xi Jinping.”,”caption”:”Donald Trump inspects an honour guard during a welcome ceremony with Xi Jinping.”,”credit”:”Photograph: Evan Vucci/Reuters”}},{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
The leaders shook hands and walked together on a red carpet after Trump arrived in a motorcade to the steps outside, where a US delegation including Marco Rubio, Pete Hegseth and business chiefs including Elon Musk awaited him.
The ceremony is continuing now, with marching soldiers and music, as Xi and Trump stand side by side under a gazebo and watch.
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Marco Rubio says American officials will try to persuade China to take a more “active role” in resolving the conflict in Iran, Fox News is reporting.
The US secretary of state told the network from aboard Air Force One while en route to China that the US had made its case to Beijing on why it should engage in efforts to settle simmering tensions with Iran.
We hope to convince them to play a more active role in getting Iran to walk away from what they’re doing now and trying to do now in the Persian Gulf.”
n
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Here are some images of Donald Trump’s welcome in China after touching down aboard Air Force One at Beijing capital international airport on Wednesday night.
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gather to see Trump’s motorcade outside the Four Seasons hotel in Beijing”,”caption”:”People gather to see Trump’s motorcade outside the Four Seasons hotel in Beijing.”,”credit”:”Photograph: Kevin Frayer/Getty Images”}}],”attributes”:{“pinned”:false,”keyEvent”:true,”summary”:false},”blockCreatedOn”:1778717380000,”blockCreatedOnDisplay”:”20.09 EDT”,”blockLastUpdated”:1778721057000,”blockLastUpdatedDisplay”:”21.10 EDT”,”blockFirstPublished”:1778719078000,”blockFirstPublishedDisplay”:”20.37 EDT”,”blockFirstPublishedDisplayNoTimezone”:”20.37″,”title”:”Trump’s arrival in Beijing – in pictures”,”contributors”:[],”primaryDateLine”:”Thu 14 May 2026 10.24 EDT”,”secondaryDateLine”:”First published on Wed 13 May 2026 20.09 EDT”},{“id”:”6a03b21c8f0883077987089e”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
One of Trump’s pressing concerns as he visits Beijing is how to find a way to reopen the strait of Hormuz, through which half of China’s crude oil passes.
China has been more insulated from the energy shock than other Asian countries, thanks to its diversified energy mix and large stockpiles. But the risk of a global recession – which the International Monetary Fund has warned is a possible outcome of the Iran war – is a bigger threat to China’s economy.
There’s speculation Trump could use the summit to seek Beijing’s help to end the war with China-allied Iran. But the US president told reporters before departing the White House on Tuesday:
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Donald Trump’s state visit to China this week is the first by a US president in nearly a decade and comes amid a time of geopolitical upheaval, a Middle East war with no end in sight and a sometimes rocky relationship between the world’s two major superpowers.
Stay with us as we cover this high-stakes visit. It’s approaching 8.10am in Beijing.
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As I reported earlier, we were watching for more opinions from the supreme court today. The justices didn’t hand down any decisions that we were watching closely.
However, it’s also worth saying that a case we’ll still be watching closely today, as the court is also poised to announce next steps in a case about granting nationwide access to mail-order mifepristone – an abortion medication.
On Monday, Justice Samuel Alito extended a temporary order that allows the pill’s distribution by telehealth and mail until at least 14 May. Two mifepristone manufacturers filed an emergency appeal to the supreme court after a federal appeals court ordered a ban on shipping the pill earlier this month.
Richard Luscombe
A group of Miami residents has filed a lawsuit against Donald Trump and the state of Florida over a land giveaway for his proposed presidential library.
Almost three acres of prime waterfront land that once belonged to Miami Dade College (MDC) was illegally gifted to the US president by Florida’s Republican governor, Ron DeSantis, the lawsuit states.
It cites the domestic emoluments clause of the US constitution that prohibits a sitting president from receiving any personal gain, profit or advantage from their position.
The action was brought in US district court for the southern district of Florida by the Washington DC-based Constitutional Accountability Center (CAC) on behalf of plaintiffs including an MDC student, a Miami non-profit, and residents, who state the land “is no longer available to serve MDC’s student community and downtown Miami”.
Instead, the filing states, “the land will house a Trump hotel that brings riches to the President”.
Plans for the “gaudy” project were unveiled in March, to be built next to Miami’s iconic Freedom Tower, the historical landmark and community art museum. A giant golden statue of the president will stand before a 50-story tower block that will feature the controversial $400m Boeing “flying palace” jumbo jet gifted to him by Qatar, but not yet in service, in its cavernous lobby.
Supreme court poised to issue opinions
The supreme court will hand down opinions at 10am ET today. Here’s a reminder of the major cases we’re tracking closely.
Trump v Cook: Donald Trump’s case for firing Federal Reserve governor Lisa Cook, as he continues to exert greater control over the US central bank.
Trump v Slaughter: A case which examines the legality of Trump’s firing of a Federal Trade Commission (FTC) member, Rebecca Slaughter.
Trump v Barbara: In which the court will decide if the administration’s attempts to restrict birthright citizenship are unconstitutional.
Bessent: ‘We’re going to see substantial disinflation’
In response to a question about the latest data which saw US inflation jump to 3.8%, higher than when Joe Biden left office, Bessent remained undeterred.
“We may get a series, one or two more hot inflation numbers,” the treasury secretary said in an interview with CNBC. “But then I think we’re going to see substantial disinflation.”
Bessent predicts whipsawing price of oil to come ‘trundling’ down
While Trump was feasting with Xi Jinping at a state banquet in Beijing, treasury secretary Scott Bessent predicted that the price of oil will come “trundling” down in an interview with CNBC today.
“I firmly believe that nothing is more transient than a supply shock,” Bessent said.
The treasury secretary pointed to “record production” of oil in the US, as the basis for his argument. This comes as the price for a barrel of Brent Crude – the international benchmark – sits above $100.
“We’re going to keep pumping,” Bessent said. “Which will mean that the look through to inflation will also come down very quickly.”
Here’s a summary of Donald Trump and Xi’s most recent meeting
US secretary of state Marco Rubio said the US policy on Taiwan is “unchanged” after talks between Donald Trump and Xi Jinping.
Xi emphasised that Taiwan “is the most important issue in China-US relations”, adding that, if handled poorly, “the two countries will clash or even come into conflict, pushing the entire China-US relationship into a very dangerous place”.
The US has cleared about 10 Chinese firms to buy Nvidia’s second-most powerful chip in a move that could clear the way for the end of the standoff over tech rivalry.
The Chinese president questioned whether the US and China “can transcend the “Thucydides Trap” (see earlier post) and forge a new paradigm for great power relations”.
Xi said he and Trump agreed to establish a “constructive strategic and stable relationship between China and the US” as the new framework for bilateral relations.
On trade, US and Chinese economic and trade teams “reached an overall balanced and positive outcome” in discussions yesterday.
Xi said Beijing’s door “to the outside world will only open wider … American companies will enjoy even brighter prospects in China”.
The White House described the meeting as “good” and that Trump and Xi “highlighted the need to build on progress in ending the flow of fentanyl precursors into the United States, as well as increasing Chinese purchases of American agricultural products”.
The two leaders “exchanged views on major international and regional issues”, including the Middle East, Ukraine and the Korean peninsula.
Trump told Xi he is “a great leader and China is a great country, and he deeply respects President Xi and the Chinese people”.
During the talks, Trump “introduced the business leaders who accompanied him to Xi Jinping one by one”.
Trump raised a glass to Xi, as he concluded his speech at the state banquet with an invitation to the White House on 24 September.
Donald Trump makes a toast at the state banquet with China’s President Xi Jinping at the Great Hall of the People in Beijing. Photograph: Brendan Smialowski/AFP/Getty Images
Rubio: US policy on Taiwan ‘unchanged’
US secretary of state Marco Rubio said the US policy on Taiwan is “unchanged” after talks between Donald Trump and Xi Jinping.
“Our policies on that have not changed,” Rubio told NBC News. “It’s been pretty consistent across multiple presidential administrations, and remains consistent now.”
Xi warned Trump that disagreements over Taiwan, which China claims as its territory, could bring Beijing and Washington into conflict.
US secretary of state Marco Rubio at the state banquet for Donald Trump and Xi Jinping in Beijing. Photograph: Brendan Smialowski/AFP/Getty Images
US treasury secretary Scott Bessent said Washington and Beijing are able to discuss artificial intelligence guardrails because the US is “the undisputed leader in the world” of AI.
“The two AI superpowers are gonna start talking. We’re gonna set up a protocol in terms of how do we go forward with best practices for AI to make sure non-state actors don’t get a hold of these models,” he told CNBC.
He added: “The reason we are able to have wholesome discussions with the Chinese on AI is because we are in the lead.
“I do not think we would be having the same discussions if they were this far ahead of us.”
US clears Nvidia chip sales to 10 Chinese firms as CEO looks for breakthrough
Lisa O’Carroll
The US has cleared about 10 Chinese firms to buy Nvidia’s second-most powerful chip in a move that could clear the way for the end of the standoff over tech rivalry.
China dominates the global supply of legacy chips, the older style chip used in everything from washing machines to smartphones, cars and medical devices.
But it lags behind on advanced chips, designed by the likes of Nvidia, used to drive artificial intelligence learning.
Earlier this year three people were charged in the US with trying to unlawfully divert cutting edge US AI tech to China, a sign of the frenzied demand to compete on AI.
The presence of Nvidia CEO Jensen Huang, who was not originally expected to join Donald Trump’s trip to China, has raised hopes that a tech deal could be still be rescued.
Nvidia CEO Jensen Huang speaks to the media as he arrives for the meeting between Chinese premier Li Qiang and US business representatives in Beijing. Photograph: Go Nakamura/AP
Nvidia dominates the AI chip market with Mizuho Securities estimating the company supply between 70% and 95% of the chips used for training by OpenAI’s GPT and others.
Ahead of the summit Trump said he would be asking Xi Jinping to “open up” China to allow their “brilliant people” to “work their magic”, code for permission to allow US trade companies enter the Chinese market.
Nvidia’s most advanced chips, widely used for training AI models, have faced tighter US restrictions on China sales over the last four years.
David Smith
Donald Trump, accustomed to eating McDonald’s, is being forced to expand his palate at tonight’s state banquet in Beijing.
The menu includes lobster in tomato soup, crispy beef ribs, Beijing roast duck, stewed seasonal vegetables, slow-cooked salmon in mustard sauce, pan-fried pork bun and trumpet shell-shaped pastry.
The dinner caps a first day of talks between Trump and Chinese leader Xi Jinping that appear to have gone smoothly but offered little by way of substance.
The table setting for US President Donald Trump at the state banquet hosted by Chinese president Xi Jinping at the Great Hall of the People in Beijing. Photograph: Alex Wong/Getty Images
It is being held in a huge hall in the Great Hall of the People beneath giant chandeliers, blue and gold balconies and an orange backdrop with pagoda-style roofs saying ‘Welcoming banquet’ with US and China flags.
Xi toasted Trump by saying the relationship between China and the US is the most important in the world today and we “must make it work and never mess it up”. He added that the “rejuvenation of China” and “make America great again” can go hand in hand.
Then Trump delivered a flat speech with few of his usual digressions. He said he had invited Xi to visit the White House on 24 September. Toasting the enduring ties between the American and Chinese people, he described it as “very special relationship” – a phrase that might be painful to British ears.
But both of them are at risk of being upstaged by tech billionaire Elon Musk, who was repeatedly asked for photos by Chinese guests and responded by pulling funny faces. Asked by pool reporters about his talks with Xi, Musk replied: “It was awesome,” before secretary of state Marco Rubio led him away.
Bessent: ‘Trump understands sensitivities around Taiwan issue’
US treasury secretary Scott Bessent said Donald Trump understands the sensitivities around the issue of Taiwan and will speak on the matter in the coming days.
The US president has not commented on Taiwan, the self governing island that Beijing considers its territory, nor was it mentioned in a White House statement of Trump’s meetings with Xi Jinping in Beijing today. The Chinese government, in its readout of the summit, said Xi warned Trump that the Taiwan issue could send relations down a “dangerous” path and even lead to conflict.
In an interview with CNBC, Bessent said: “President Trump understands the issues here and understands the sensitivities around all this, and anyone who has been saying otherwise does not understand the negotiating style of Donald Trump.”
Trump invites Xi to Washington in September
Trump raises a glass to Xi, as he concludes his speech with an invitation to the White House on 24 September.
US president Donald Trump makes a toast during a state banquet hosted by Chinese president Xi Jinping at the Great Hall of the People in Beijing. Photograph: Alex Wong/Getty Images
Giving more examples of how close the US and China have grown over the years, Trump said Chinese people “now love basketball and blue jeans”.
He also claimed Chinese restaurants in the US today “outnumber the five largest fast food chains in the United States all combined. That’s a pretty big statement”.
Trump said the US and China have “from the beginning … shared a deep sense of mutual respect”, giving the example of Benjamin Franklin publishing the sayings of Confucius in his colonial newspaper.
CARACAS, Venezuela (AP) — Twice this week, U.S. President Donald Trump has expressed interest in turning Venezuela into his country’s 51st state. The latest came via a Truth Social post Tuesday with a map showing the South American country filled with the U.S. flag.
Previous statements doubting Venezuela’s sovereignty over the past 25 years have been met with immediate derision from senior government officials, including the president. The ruling party even organized demonstrations in the capital, Caracas, as recently as Jan. 3, hours after then-President Nicolás Maduro was captured by the U.S., that included chants of “Gringo go home.” This time around, however, the government has mostly kept quiet, save for a brief statement to reporters Monday from acting President Delcy Rodríguez.
The approach demonstrates the balance Rodríguez must strike between external and internal politics following the January U.S. military attack in Caracas. The Trump administration has since implemented a phased plan to try to turn around the crisis-wrecked country and has forced Rodríguez’s political movement, Chavismo, to abandon the anti-U.S. sentiment that long accompanied its teachings.
“This is probably the most public and sharp manifestation of the government’s transactional, self-survival approach above everything else right now, above even that sort of basic tenet of Chavismo,” said Christopher Sabatini, senior fellow for Latin America at the London-based Chatham House think tank. “It’s better that they hold their tongue, not offend the U.S. right now. Why overreact to a ridiculous claim by Donald Trump?”
Rodríguez on Monday told journalists that Venezuela had no plans to become the 51st U.S. state, but her comments were much more reserved than past presidential addresses deriding these types of U.S remarks. They came after Trump said he was “seriously considering” the move. Trump has made similar comments about Canada.
“We will continue to defend our integrity, our sovereignty, our independence, our history,” Rodríguez said. Venezuela, she added, is “not a colony, but a free country.”
The Trump administration stunned Venezuelans by choosing to work with Rodríguez, instead of the country’s political opposition, following Maduro’s ouster. She has since led cooperation with the administration’s phased plan, pitching her oil-rich nation to international investors and opening its energy sector to private capital and international arbitration. Rodríguez has also replaced senior officials, including Maduro’s faithful defense minister and attorney general.
Trump has praised her work, and his administration has lifted economic sanctions against her personally and eased sanctions against the country, though some still remain in place. The U.S. now also recognizes her as the “sole” head of state of Venezuela.
The U.S. stopped recognizing Maduro as Venezuela’s legitimate leader in 2019, the year after he claimed reelection victory in a contest widely considered a sham as opposition parties and candidates were barred from participating.
Maduro and his wife, Cilia Flores, were taken to New York to face drug trafficking charges after their Jan. 3 capture. Both have pleaded not guilty and remain jailed at a Brooklyn detention center.
In Caracas, some residents on Wednesday viewed the government’s response as submitting to Trump, but they also acknowledged that Rodríguez is not in a position to unleash Chavismo’s characteristic anti-U.S. propaganda.
“She knows that it’s wise not to engage in direct confrontation because she knows she’s bound to lose,” college student Adonai Osoria said. “Now, are there some who disagree, who don’t like it? Well, yes, of course. But I consider her reaction right now to be a common, understandable reaction.”
Government supporters last showed their inflammatory attitude against the U.S. in the days after Maduro was captured, burning U.S. flags and carrying signs that read “Gringo go home.”
Among the government’s strongest supporters across the country are the armed groups known as colectivos. The groups are a staple of pro-ruling party demonstrations. Local leader Jorge Navas characterized Trump’s comments as “irresponsible acts of provocation” and praised Rodríguez for her diplomatic response.
“We are bending, strategically, but we will not break,” Navas said of Chavismo’s current approach to U.S. pressure. “We continue to resist, that is, realistically, given the country’s economic situation.”
A group of Miami residents has filed a lawsuit against Donald Trump and the state of Florida over a land giveaway for his proposed presidential library.
Almost three acres of prime waterfront land that once belonged to Miami Dade College (MDC) were illegally gifted to the US president by Florida’s Republican governor, Ron DeSantis, the lawsuit states.
It cites the domestic emoluments clause of the US constitution that prohibits a sitting president from receiving any personal gain, profit or advantage from their position.
The action was brought in US district court for the southern district of Florida by the Washington DC-based Constitutional Accountability Center (CAC) on behalf of plaintiffs including an MDC student, a Miami non-profit, and residents, who state the land “is no longer available to serve MDC’s student community and downtown Miami”.
Instead, the filing states, “the land will house a Trump hotel that brings riches to the President”.
Plans for the “gaudy” project were unveiled in March, to be built next to Miami’s iconic Freedom Tower, the historical landmark and community art museum. A giant golden statue of the president will stand before a 50-storey tower block that will feature the controversial $400m Boeing “flying palace” jumbo jet gifted to him by Qatar, but not yet in service, in its cavernous lobby.
At the time, Trump said the building was “most likely going to be a hotel”.
The land on which it will sit, the lawsuit said, is worth hundreds of millions of dollars.
“Rather than prevent President Trump from using the gifted land for personal gain, Florida … required that the conveyed land include only ‘components of a Presidential library, museum, and/or center’, leaving the door open for the President to develop the property in any way he sees fit,” the CAC said in a statement.
The library has already been the subject of one lawsuit that claimed MDC trustees, most of them handpicked by DeSantis, erred by originally handing the land to the state in September during an unadvertised meeting with no public discussion.
The board held a do-over in December, and voted unanimously to proceed with the transfer.
The Guardian has contacted the Trump Presidential Library Foundation and DeSantis’s office for comment.
U.S. President Donald Trump’s summit with Chinese counterpart Xi Jinping could hinge on two key tech flashpoints — critical minerals and market access for American companies.
The much-anticipated bilateral meeting between the two countries that were locked in a tariff standoff just a year ago began on Thursday, with warm words exchanged between the two leaders. The discussions will continue into Friday and are expected to cover geopolitics in Taiwan and Iran, as well as key trade topics.
But it’s issues relating to U.S. and Chinese tech sectors that could be crucial points of discussion and contention, with a roster of key American executives including Nvidia’s Jensen Huang, Tesla’s Elon Musk and Apple’s Tim Cook joining Trump on the plane.
Tesla CEO Elon Musk gestures next to Apple CEO Tim Cook and Nvidia CEO Jensen Huang, as U.S. Secretary of the Treasury Scott Bessent, Secretary of State Marco Rubio and Ambassador to China David Perdue stand prior to a welcome ceremony for U.S. President Donald Trump at the Great Hall of the People on May 14, 2026 in Beijing, China.
Alex Wong | Getty Images News | Getty Images
“What is at stake is not just one trip or one headline but the direction of AI supply chains, the shape of future export controls, and the degree to which US chip leadership remains monetizable in China,” Wedbush Securities’ Dan Ives said in a note from Wednesday.
“The presence of Huang, Musk, Cook, and others signals that technology and commerce are among the top US priorities going into the meetings,” he added.
Market access
Access to the world’s second-largest economy for U.S. tech companies is a key focus for Trump, with the U.S. president commenting that opening up China for U.S. businesses would be his “first request” to Xi.
The cordial atmosphere marks a sharp shift from relations just over a year ago, when China became the first major economy to retaliate against Trump’s “Liberation Day” tariffs in April 2025.
Rules governing Nvidia’s sale of advanced AI chips to China are a key issue. Shortly after Trump met Xi on Thursday, Reuters reported that Washington had cleared sales of Nvidia’s H200 AI chips to several major Chinese technology firms, citing three people familiar with the matter.
“We believe Nvidia is still pressing the U.S. government to allow the company to sell into China,” Brian Colello, senior equity analyst at Morningstar, told CNBC on Thursday. “We suspect that Nvidia would like to negotiate a solution where it can sell some gear into China, so that it is part of the Chinese AI stack.”
But a licensing deal for Nvidia’s H200 chips could be “politically explosive” and trigger a “fierce backlash from China hawks” in Congress, Heidi Crebo-Rediker, senior fellow at the Council on Foreign Relations, told CNBC.
“One possible outcome is not a clean reopening of the China market, but a conditional, closely managed channel for Nvidia sales, perhaps with safeguards, fees or limits,” she added.
Other tech execs are likely eyeing market opportunities as well.
“The U.S. tech executives joining Trump make for an all-star list, and their collective objectives appear to be setting up a so-called Board of Trade and Board of Investment with China,” Lauryn Williams, deputy director at think tank the Center for Strategic and International Studies, told CNBC, referring to a proposed body to manage trade relations between the countries.
Tesla will likely want full self-driving approval in China, Kyle Chan, a foreign policy fellow at the Brookings Institution, told CNBC. “Apple and Meta may want deals with supply chain partners in China for their consumer products.”
Tesla, Apple and Meta have been approached for comment.
Apple and Tesla would benefit less from a “headline breakthrough than from a calmer operating environment,” said Crebo-Rediker, because their China exposure runs through factories, consumers, regulators and competitors.
Critical minerals
Another area of potential contention is China’s overwhelming control over the critical and rare-earth minerals markets. Beijing was responsible for 59% of the world’s rare earths mining and 91% of its refining in 2024, according to the International Energy Agency.
“China’s export controls on rare earths and magnets are a powerful source of leverage for Beijing,” Chan said.
“Trump could ask Xi to grant general licenses for American commercial users to secure rare earth supplies,” he added. “Even with an agreement over licenses, China’s control over rare earths will likely remain a source of potential leverage.”
China’s chokehold on critical and rare earth minerals was a key factor in the country’s retaliation against U.S. tariffs in 2025, with Beijing curbing some exports to the U.S, before a trade truce came into effect.
While the critical and rare earth mineral issue remains “acute” there could be a deal around the U.S. relaxing select export chip controls in return for progress in that area, Paul Triolo, a partner at U.S. advisory firm Albright Stonebridge Group, said. But, he added, the “political atmosphere” in the U.S. would make that difficult.
The “best-case outcome” would be an extension of the 2025 trade truce, which saw tariffs lowered between the countries, said Crebo-Rediker. Even under that truce, however, China’s export controls on specific heavy rare earths and magnets were not fully reversed, she added.
“That puts the U.S. administration on the back foot,” Crebo-Rediker told CNBC. “The U.S. and its allies cannot out-mine, out-process or outspend China quickly enough to rebuild resilience in the near term.”
