US President Donald Trump and Chinese President Xi Jinping are meeting once again in Washington, just a few months after their May summit, which produced a broad package of trade and economic understandings aimed at easing tensions between the world’s two largest economies.
The May agreement was presented as an effort to build what both sides described as “constructive strategic stability” in US–China relations. The discussions covered a wide range of issues, including trade, tariffs, agricultural purchases, rare earth supplies, investment, artificial intelligence, and civil aviation cooperation. However, several of those commitments have progressed more slowly than expected, making implementation a major focus of the latest summit.
One of the biggest unresolved items is the proposed US–China Board of Trade, a mechanism intended to oversee trade in non-sensitive goods and support tariff reductions. Both countries had agreed in principle to create the body, but negotiations over its structure, scope, and timeline are still continuing.
Tariff relief remains another key issue. In May, both sides discussed reciprocal tariff reductions covering billions of dollars’ worth of goods. While neither Washington nor Beijing has abandoned the idea, officials are still working through details. As a result, many businesses continue to face uncertainty regarding future trade costs.
Progress has also been uneven in other areas. China has moved forward on some commitments related to rare earth exports and commercial cooperation, while the United States has continued discussions on investment and technology safeguards. Yet several planned measures have yet to translate into significant, measurable increases in trade flows.
To prevent tensions from rising again, both governments recently agreed to extend their existing trade truce, giving negotiators additional time to work towards what US officials describe as a potentially larger and more durable agreement.
As Trump and Xi sit down for another round of talks, the central question is no longer what can be promised, but whether the promises made in May can be fully implemented. The outcome could shape the future of global trade and the broader US–China relationship for years to come.