Trump and Xi Meet in Beijing as U.S.-China Trade Truce Nears Expiration

Presidents Donald Trump and Xi Jinping are meeting in Beijing this week to stabilize economic ties between the world's two largest economies. A trade truce reached in October 2025 is likely to be extended at the summit.

U.S. Officials have teased the creation of a Board of Trade. U.S. 1 percent. U.S. tariffs on China are currently at almost 48 percent after coming down from triple-digit levels in 2025, according to Chad Bown of the Peterson Institute for International Economics.

U.S. trade with China accounted for more than 13 percent of America’s trade with the rest of the world. U.S. 4 percent.

U.S. Trading partners by last year. U.S. goods-and-services trade deficit with China peaked at $377 billion in 2018. The deficit narrowed to $168 billion last year, the lowest since 2004. 2 trillion last year.

Goods imports from Vietnam to the United States surged 42 percent last year.

U.S. tariffs. Velong Enterprises was founded in China’s southern Guangdong province in 2002.

The company added production capacity in Cambodia and India after Trump’s first term. “Most serious manufacturers did not simply ‘leave China,’” said Jacob Rothman, Velong CEO and founder. U.S. soybean exports to China dropped 75 percent in 2025.

U.S. -China talks in October 2025. China controls about 80 percent of the world’s tungsten and limited exports of the metal last year. Apple has moved some iPhone production to India.

Nike has stepped up production in Vietnam. InStyler is shifting some production to South Korea and France.