Trump says made 'fantastic trade deals' with Xi Jinping

BEIJING: President Donald Trump said he had made “fantastic trade deals” with China’s Xi Jinping, as the pair met on Friday at final talks of a superpower summit that according to the US leader has also reaped a Chinese offer to help open the Strait of Hormuz.

Trump had arrived in Beijing seeking to seal deals in sectors including agriculture, aviation and artificial intelligence, as well as to contain differences between the two sides in a number of tense geostrategic areas — not least the Middle East war.

Trump’s overtures to Xi, whom he described as a “great leader” and “friend”, have so far been met with more muted tones by the Chinese leader.

But the US leader said “a lot of good” has come out of the visit.

“We’ve made some fantastic trade deals, great for both countries,” he said after a walk with Xi among the rosebushes in the gardens of Zhongnanhai, a central leadership compound next to Beijing’s Forbidden City.

“We’ve settled a lot of different problems that other people wouldn’t have been able to solve,” he added, without providing details.

Xi said it was a “milestone visit”, and that the two sides had to date established “a new bilateral relationship, which is a relationship of constructive strategic stability”.

He promised to send Trump seeds for the White House Rose Garden.

 ‘Help on Hormuz’

In an interview with Fox News after the first day of the summit wrapped, Trump said Xi had agreed to several US wishlist points.

On the topic of the war in Iran, the US president said Xi had effectively assured his counterpart that China was not preparing to militarily aid Tehran, which has essentially closed the Strait of Hormuz.

“He said he’s not going to give military equipment… he said that strongly,” Trump told Fox.

“He’d like to see the Hormuz Strait open, and said ‘if I can be of any help whatsoever, I would like to help,'” Trump added.

Asked whether the two leaders had discussed Iran, the Chinese foreign ministry on Friday released a statement calling for “a comprehensive and lasting ceasefire”.

“Shipping lanes should be reopened as soon as possible in response to the calls of the international community,” it added.

Taiwan policy ‘unchanged’

The warm handshakes and pomp on Thursday were somewhat overshadowed by a blunt warning from Xi on a much longer standing geopolitical flashpoint, Taiwan.

Shortly after talks started, Chinese state media reported Xi had told Trump that missteps on the sensitive issue of Taiwan could push their two countries into “conflict”.

The Fox News interview did not touch upon Taiwan, and Trump did not comment to reporters when asked about the matter on Thursday.

US Treasury Secretary Scott Bessent told CNBC the president would say more “in the coming days”.

Secretary of State Marco Rubio told NBC on Thursday though that “US policy on the issue of Taiwan is unchanged… as of the meeting”.

READ MORE: Trump says Xi is ‘all business’ as talks resume after Taiwan warning

Beijing had raised the topic, he said, but “we always make clear our position, and we move on to the other topics”.

Taipei responded Friday thanking Washington “for repeatedly expressing its support”.

Boeing, oil, soybeans

Trump did not spell out on Friday the trade agreements that he said had been sealed with China.

However, in the Fox interview, Trump said one big business deal struck involved Xi agreeing to purchase “200 big” Boeing jets.

Shares of the US aviation giant fell after Trump’s comments, in a sign the market had expected a more robust purchase from China.

The US president also said Beijing had also voiced interest in buying US oil and soybeans.

China, which is the key foreign customer of Iranian oil, bought small amounts of US oil before Trump imposed tariffs last year.

It has sharply slowed down purchases of US soybeans, turning instead to Brazil.

And Treasury Secretary Scott Bessent told CNBC that Trump and Xi were talking about setting up “guardrails” for the use of artificial intelligence.

Bessent said the world’s “two AI superpowers are going to start talking”, though US export controls on the advanced technology to China remain a sore point in relations.