President Donald Trump departed Washington late Tuesday for a historic state visit to Beijing on May 14-15, the first by a sitting US president since Trump's own 2017 trip during his first term. US officials confirmed an ambitious agenda that includes a potential deal for China to resume imports of American oil and LNG — trade worth $8.4 billion annually before tariffs halted it — plus Boeing aircraft purchases and a new "Board of Trade" framework for non-sensitive goods exchange.
The Energy Deal
The centerpiece proposal would revive US energy exports to China, which have been effectively frozen by trade-war tariffs. China imported just $2.96 billion in US ethane in 2025, down from $8.4 billion in total energy trade in 2024. With China needing to diversify away from Russian energy dependency amid sanctions uncertainty, and the US seeking export markets for its record LNG production, the deal has economic logic for both sides.
Board of Trade Framework
Working-level negotiations have sketched out a "Board of Trade" and parallel "Board of Investment" to govern exchanges of non-sensitive goods between the two economies. The framework would create a bilateral mechanism for resolving trade disputes without the tariff escalation cycles that characterized 2018-2025. Beijing is reportedly willing to purchase Boeing aircraft and American soybeans as confidence-building measures.
Iran and Taiwan on the Table
Beyond trade, the sprawling agenda includes the Iran conflict and Taiwan. The US wants China to use its influence with Iran to help resolve the Strait of Hormuz blockade, which is disrupting global oil markets. China will seek stability on the Taiwan Strait and push back against US semiconductor export controls. The summit comes at a delicate moment, with Chinese tech stocks rallying on optimism but US hawks warning against concessions.
Market Reaction
The yuan strengthened 0.4% against the dollar on summit optimism. The Hang Seng Tech Index rose 1.8% and the CSI 300 gained 0.9% in Tuesday trading. Boeing shares added 1.2% on the aircraft purchase speculation. US soybean futures climbed 1.5%. However, analysts warned that high expectations create downside risk if the summit produces only vague communiqués.