Chinese President Xi Jinping is reportedly preparing to lead a large delegation of business executives on his forthcoming visit to Washington. The move could signal a thaw in the frosty trade relations between the world's two largest economies.
According to Reuters, Xi plans to bring the business delegation with him for his Sept. 24 summit with President Trump. The last time Xi led a significant business contingent to the U.S. was in 2015, when the group included founders and executives from Alibaba Group Holding Ltd (BABA), Tencent Holdings Ltd (TCEHY), and other Chinese banks and state-owned firms. That visit also saw China sign a $38 billion agreement for 300 Boeing Co. (BA) aircraft.
The upcoming summit comes at a time when Chinese companies have faced growing U.S. scrutiny. Washington has imposed steep tariffs on Chinese EVs, restricted imports of drones, routers, and robots, forced TikTok's U.S. divestiture, and blacklisted major Chinese tech firms over national security concerns.
Bringing business leaders along could be a strategic move. A source told Reuters that the inclusion of business leaders in the delegation could signal China's willingness to support investment and commercial ties with the U.S. It could also provide the White House with potential economic victories ahead of the midterm elections.
Trump has previously visited China with large groups of U.S. business leaders, including Nvidia Corp. (NVDA) CEO Jensen Huang and Tesla Inc. (TSLA) CEO Elon Musk, among others, to seek greater access to Chinese markets. His May visit included 18 American executives.
The upcoming visit by Xi could also open the door for new announcements on agriculture and non-tariff barriers to expand American farm exports to China. U.S. Trade Representative Jamieson Greer stated, "When President Xi comes, we expect that we will probably have some more announcements on agriculture and non-tariff barriers related to agriculture to incentivize American sales into China."
However, Greer also clarified that they are not looking for another sweeping trade pact but are aiming to manage the relationship.
This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.
