Trump to Travel to Beijing Next Week With Nvidia, Apple and Exxon CEOs

President Trump will be joined by the chief executives of Nvidia, Apple and Exxon on his trip to Beijing next week, according to people familiar with the planning. The Trump administration has also extended invitations to executives from Boeing, Qualcomm, Blackstone, Citigroup and Visa, with the final list expected to expand as more chief executives seek to join.

The visit, set for May 14-15, will be the first by a sitting U.S. president to China in nearly a decade. Chinese officials signaled that Taiwan will be a priority topic at the summit between President Trump and Chinese President Xi Jinping. Officials said the U.S. must adhere to the one China principle for relations between the two countries to remain stable.

The island is claimed by Beijing as its own territory, and Chinese forces have increased military activity around it with near-daily warplane and naval deployments. “The Taiwan question is at the core of China’s core interests and the bedrock of the political foundation of China-U.S. relations,” a foreign ministry spokesman said Thursday.

“The Taiwan question is at the core of China’s core interests and the bedrock of the political foundation of China-U.S. relations.”

China’s top diplomat told visiting American senators that bilateral ties had maintained overall stability despite numerous twists and disruptions over the past year. The meeting with the bipartisan congressional delegation, led by Sen. Steve Daines, credited both President Trump and President Xi for steering relations at critical moments.

Daines, who last visited China in March 2025 amid tariff and fentanyl disputes, expressed hope for de-escalation rather than decoupling. The summit comes as expectations for major commercial announcements remain modest. Discussions may include a potential Chinese order for up to 500 Boeing aircraft and increased purchases of American soybeans.

Officials are focused on extending a trade truce agreed upon by the two leaders during an October meeting in South Korea.

Separate from the summit, companies continued to report negative effects from U.S. tariffs imposed last year. Philips and Pandora announced Wednesday they have applied for tariff rebates under a refund process opened after the Supreme Court ruled the duties illegal in February.

The process could ultimately return as much as $175 billion to more than 330,000 importers. Philips CEO Roy Jakobs told CNBC the company prefers a world without tariffs or trade barriers to better serve patients. Pandora CEO Berta de Pablos-Barbier described tariffs as a headwind to first-quarter earnings but said the firm could not yet count on any refund.

Several other European firms, including BMW, Daimler, Renishaw, Smith & Nephew and Continental, also cited tariffs as a drag on results though they did not confirm rebate applications. Economists noted that tariffs have had an overall inflationary impact on the U.S. economy.

A quarterly survey of chief financial officers found that while many plan to seek refunds, none intend to lower consumer prices in response. Moody’s Analytics chief economist Mark Zandi said companies appear to view the rebates as compensation for earlier costs and supply-chain adjustments.

U.S. officials have pressed Beijing to use its influence with Iran to help reopen the Strait of Hormuz, through which 20 percent of the world’s oil normally flows. Sen. Daines highlighted China’s recent meeting with the Iranian foreign minister as evidence of engagement on regional tensions.

The senator also suggested the summit could lead to additional Boeing aircraft purchases by China. A defense expert at Taiwan’s Central Police University noted that Beijing’s strong language linking U.S. actions on Taiwan to the overall bilateral relationship is rare so close to a leaders’ meeting.

China and Taiwan split after a civil war in 1949. The U.S. remains Taiwan’s largest unofficial ally and provides defensive weapons under American law. The Trump administration’s inclusion of prominent technology and energy executives underscores the importance of commercial ties even as expectations for splashy deals are low.

Talks are also reported to include possible creation of a Board of Trade to manage flows of non-sensitive goods within a tariff framework. A dialogue on artificial intelligence safety has been discussed but faces significant hurdles based on prior attempts.

“I really don’t expect a whole lot of dynamic big results. But just that they’re meeting is a very important accomplishment.”