What Trump Gained, and Didn't, From China

A two-day summit between President Trump and Xi Jinping ended with major questions about outcomes. Despite visible cooperation, concrete deals were scarce, including limited progress on tariffs and technology restrictions. Trump rejected Xi’s proposal to help broker peace between the U.S. and Iran, leaving the Strait of Hormuz effectively shut. The president returned to Washington facing rising oil prices and a slumping bond market. Some business-related wins appeared, including reports that Washington cleared 10 Chinese companies to buy Nvidia H200 semiconductors, and Citi reportedly benefited. Overall, analysts and investors viewed the results as falling short of expectations, with thinner deal flow than during the 2017 trip to China.

"The summit seems to have fallen short of already diminished expectations. While there were optics of cooperation between Trump and Xi Jinping, concrete deals — including on Nvidia chips or tariffs — were few. Trump just said that he rejected a proposal from Xi, China's leader, to help broker a peace between the U.S. and Iran, leaving the critical Strait of Hormuz effectively shut. Ultimately, the president is coming home to rising oil prices and a slumping bond market."

"President Trump departed Beijing a few hours ago, hailing fantastic trade deals struck during his two-day summit. Still, many analysts and investors appear underwhelmed by a lack of details or breakthroughs on key issues like tariffs, Iran and tech restrictions. The summit seems to have fallen short of already diminished expectations. For the 17 business leaders who accompanied Trump on the trip, the deal flow also appeared thinner than what was announced on his last presidential trip to China, in 2017."

"Here are the highlights so far, Grady McGregor writes. Nvidia and Citi apparently scored wins. Shares in Nvidia, the chipmaker, hit a record on Thursday on reports that Washington had cleared 10 Chinese companies to buy its H200 semiconductors."

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