Big names from US industry arrive with Trumppublished at 13:42 BST
13:42 BST
Jonathan Josephs
Business reporter
Image source, Getty ImagesImage caption,
Nvidia’s Jensen Huang (right) and Tesla’s Elon Musk (middle back) stand behind Trump and Chinese Vice-President Han Zheng
Some big name business leaders have got off the plane with
President Trump in Beijing, the CEO’s of Nvidia, Apple, Tesla and Boeing
among them.
But overall the amount of trade between the two countries
has been falling in recent years amid a deepening trade war, and the tariffs and
other trade restrictions that has brought.
Last year two-way trade was worth $414.7bn (£307.3bn), which is along
way down on the $690.4bn (£511.6bn) that it peaked at in 2022.
One of the big issues President Trump has is the unbalanced
nature of that trade, with America buying over $200bn more goods from China last
year than it sold to it.
Image source, Getty Images
One way to tackle that is to sell more American goods to China, which will be popular back home for the jobs and opportunities it would create.
Some of the most likely beneficiaries could be US soybean and beef farmers as well as planemaker Boeing.
Its CEO Kelly Ortberg recently told investors he was “highly confident” of a deal that would mean “a big number” of new planes being ordered as a result of this summit.
However, when China and the US struck a trade deal in President Trump’s first term Beijing didn’t buy everything it said it would. It remains to be seen if history will repeat itself.