• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
CommentaryChina

Trump Paints an Overly Rosy Picture Of His Meeting With China’s Xi Jinping

By
Minxin Pei
Minxin Pei
Down Arrow Button Icon
By
Minxin Pei
Minxin Pei
Down Arrow Button Icon
April 10, 2017, 11:40 AM ET
Trump US China
President Donald Trump and Chinese President Xi Jinping shake hands during a dinner at Mar-a-Lago, Thursday, April 6, 2017, in Palm Beach, Fla. (AP Photo/Alex Brandon)AP Photo/Alex Brandon
Add Fortune on Google for similar content.

Among the many U.S.-China summits held in the last four decades, President Trump’s meeting last week with Xi Jinping at Mar-a-Lago was probably the most unusual – if not the strangest – affair.

For one, Trump warned the Twittersphere of a “very difficult” meeting with Xi because of America’s large trade deficit with China. Then he surprised his guest with news that he had just ordered a cruise missile strike on Syria. The ensuing media frenzy completely overshadowed the most important U.S.-China summit in years.

Xi, who is typically obsessed with following protocols and expects others to do the same, was likely caught off guard. But while there was little doubt that Xi and his delegation were not pleased by the unexpected turn of events that ended the summit on the wrong kind of bang, they might nevertheless appreciate their host’s effusive spin of the get-together. As the summit closed on Friday, Trump told reporters that he had made “tremendous progress in our relationship with China” and called the U.S.-China relationship he has developed with Xi “outstanding.” He also predicted that “lots of very potentially bad problems will be going away.”

In reality, though, based on officially disclosed details of the summit, little substantive progress was made on the most serious and divisive issues between the two countries, such as currency manipulation and trade deficits. In fact, even Trump himself implicitly acknowledged this fact when he tweeted, after his guest was safely back in Beijing, that despite the goodwill and friendship between him and Xi, “only time will tell on trade.”

This rather sober assessment on trade is actually not far off the mark. To be sure, China did make two relatively minor concessions at the summit: Beijing will resume imports of banned American beef and allow U.S. financial firms to set up majority-owned subsidiaries in China. But Trump and Xi did not reach any substantive trade deals. What they did agree to do is to start a 100-day process of seeking compromises on trade between the US and China. In other words, the Mar-a-Lago summit bought both sides valuable time, but little else, in averting a potential trade war.

On North Korea, arguably the central national security issue on the summit’s agenda, Trump and Xi did not reach any deal, even though they agreed that Pyongyang poses a serious threat to regional peace. According to White House press secretary Sean Spicer, the U.S. and China would increase cooperation to “convince North Korea … to dismantle its illegal nuclear and missile programs.” But we do not know what such “cooperation” would be. In all likelihood, Washington and Beijing have yet to determine what specific steps China should or can take in containing the North Korean threat.

For those obsessed with score-keeping, determining which leader, Xi or Trump, has improved his bargaining position as the result of the summit is a tricky exercise. In the media commentaries on the outcome of the summit, much attention has been directed to the implications of the U.S. missile strike against Syria. The conventional wisdom is that, with this unexpected shift in policy, Trump has put Xi on notice: if China fails to act on North Korea, the U.S. will take unilateral military action. Fearing the potentially devastating consequences, Beijing might now have greater incentives to cooperate with the U.S.

This could be true. But a brief moment of reflection would show that, on balance, Xi could not have been displeased by Trump’s volte face on Syria. For one thing, striking Russia’s client state has all but ensured that a U.S.-Russian rapprochement, a development greatly feared in Beijing, will not happen any time soon. For another, Trump’s opening salvo of missiles is unlikely to be a one-off shot. Further escalations could drag his young administration deeper into the Middle East’s quagmire, thus distracting his attention away from China.

As far as Trump’s China policy is concerned, the future remains cloudy. The Mar-a-Lago summit has improved the atmospherics of U.S.-China relations and started a process that may reduce trade tensions and stabilize U.S.-China ties. But there is no evidence that the summit has produced concrete agreements that have removed the underlying sources of conflict between the two countries over geopolitical security and trade. Of course, we hope that the time bought by this summit will make it easier for Trump and Xi to keep the U.S.-China relationship on an even keel. Yet, as long as economic nationalists and establishment pragmatists in the White House wage pitched battles over the China policy and Beijing and Washington continue to see each other as potential adversaries, Trump’s prediction that the “lots of very potentially bad problems will be going away” will turn out to be wildly optimistic.

Minxin Pei is a professor of government at Claremont McKenna College and author of the book, China’s Crony Capitalism (2016).

About the Author
By Minxin Pei
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

k
Commentarypower
What I keep hearing from Fortune 500 CEOs: ‘We have no idea what we’re actually paying for power’
By Kiran BhatrajuJuly 21, 2026
16 hours ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
16 hours ago
ford
Commentary250 Years of Innovation
Alliance for America’s Skilled Trades: Skilled trades shaped America’s past. Here’s how they can build America’s future
By Jim Farley, Linda Hubbard, Bayo Ogunlesi and Ruth PoratJuly 21, 2026
17 hours ago
Sumeet Agrawal is VP of Product Management (Data, AI Governance & Context Engineering for Agentic Systems) at Salesforce.
CommentaryAI agents
Salesforce VP on the leaky AI pipeline: why cheaper tokens won’t fix enterprise AI
By Sumeet AgrawalJuly 20, 2026
2 days ago
japan
CommentaryJapan
Japan’s monetary conundrum — why the yen hit a 40-year low as interest rates hit a 31-year high
By Steve H. Hanke and John GreenwoodJuly 20, 2026
2 days ago
ryan
CommentaryLeadership
I’ve interviewed 700 leaders. The ones outsourcing their thinking to AI lose their best people first
By Ryan HawkJuly 20, 2026
2 days ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
1 day ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
7 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
11 hours ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.