Trump, Xi to Meet in Beijing May 14 on Iran, Trade

President Trump will meet Chinese President Xi Jinping in Beijing on May 14, 2026, to discuss the Iran war, bilateral trade relations and US export controls on advanced semiconductors. Trump will travel with a US corporate delegation of more than a dozen executives.

The delegation includes Elon Musk; Apple CEO Tim Cook; Boeing executive Kelly Ortberg; BlackRock’s Larry Fink; and Goldman Sachs’ David Solomon. US priorities for the trip have been organized around a framework known as the “Five B’s,” which lists Boeing aircraft deals, beef and beans exports and the creation of new joint trade and investment boards among specific commercial goals.

The framework builds on a trade truce reached in Busan, South Korea, in October 2025 that paused a tariff escalation affecting global supply chains.

Chinese officials frame their negotiating goals as the “Three T’s”: extending the current trade truce, seeking a rollback of US support for Taiwan, and easing US export controls on advanced semiconductors and chips.

Restrictions on semiconductors and AI-related technologies are a central point of contention and may affect research and development and commercial competition in artificial intelligence.

The Iran war has moved to the top of the agenda. US officials estimate the United States has spent about $29 billion on the conflict so far. China is Iran’s top buyer of oil and holds economic leverage over Tehran, though it has no formal obligation to mediate.

When asked whether domestic cost-of-living concerns affect his decisions on the Iran conflict, President Trump replied, ‘Doesn’t, not even a bit.’

Agenda items also include Taiwan, the South China Sea, fentanyl trafficking, AI governance and human rights matters such as the case of Hong Kong media mogul Jimmy Lai, who received a 20-year prison sentence in 2026.

Preparations for the meeting show no meaningful linkage between the talks and cryptocurrency policy, regulation or commerce.

Investors and markets will watch for concrete commercial outcomes. A large Boeing order has been used historically as a diplomatic incentive and would draw market attention. Any rollback of US export controls on semiconductors and AI chips would affect long-term technological competition.

Beijing’s role as Iran’s top oil buyer gives it leverage over Tehran. Whether China uses that leverage, offers or withholds cooperation on Iran, or links the issue to other topics such as Taiwan will be part of the diplomatic record from the May 14 meeting.