Chinese President Xi Jinping will meet with U.S. President Donald Trump in Washington, Sept. 24 for another round of talks on trade, artificial intelligence (AI), rare earths, energy and other global issues.
The summit will be the second between the two leaders this year and Xi’s first visit to the White House in a decade. It comes as the U.S. and China seek to steady the relationship, which has been plagued by tensions over trade, technology and other security-related issues.
Trade Takes Centre Stage
Trade is set to be one of the key topics on the agenda.
The U.S. hopes to see more market access for American goods, including agricultural products, in China, while Beijing seeks more relaxation of U.S. tariffs and restrictions on Chinese products and technologies.
Markets will be watching to see if the two sides can agree to extend the existing trade truce before it expires later this year.
Agriculture looks set to play a bigger role in any potential negotiations, although major business deals could also be done during the meeting.
Rare Earths and Critical Minerals
Linked to trade, Washington is seeking greater access to critical minerals and rare earths, on which China holds a dominant position, while Beijing is resisting U.S. efforts to restrict Chinese access to cutting-edge technologies.
The disagreement cuts across broader economic and security implications for governments and businesses around the world, as the supply of raw materials lies at the heart of the electric-vehicle and technology revolution sweeping through the global economy.
AI Moves Higher Up the Agenda
Also on the agenda is artificial intelligence, on which the U.S. and China are locked in a strategic rivalry.
While both sides want to be the world’s leading power in AI, they also hope to cooperate on rules and regulations to govern its use.
The meeting could be seen as a test of whether the two sides can discuss the sensitive topic of AI, given the intensifying strategic competition in science and technology between the U.S. and China.
Chinese Business Leaders May Join Xi
In an added economic dimension to the meeting, Chinese companies are being considered for inclusion in Xi’s trade mission to the U.S., with some major firms in the electric-vehicle, battery, consumer electronics, auto parts and financial sectors set to participate.
BYD, Contemporary Amperex (CATL), Xiaomi, Gotion, Hisense and other major concerns are among those reported to be invited.
The full list has not been officially confirmed but the potential involvement of these firms highlights the commercial significance of the mission.
Why Africa Is Watching
While the U.S.-China summit is primarily a bilateral matter, its implications could reverberate across Africa.
Changes in tariffs, mineral production and energy trade between the U.S. and China will have a direct impact on countries hoping to attract Chinese and western investment in extractive industries and critical minerals supply chains.
For mineral-rich African countries, which have been wooed by both Beijing and Washington, shifts in the geopolitical rivalry between the two could open up new opportunities and challenges.
