Taiwan is “the most important issue,” Xi Jinping warned Donald Trump. “If mishandled, the two nations could collide or even come into conflict, pushing the entire China-US relationship into a highly perilous situation,” according to Chinese state media. The contrast with Trump’s comments was striking.

Trump had earlier named trade as the most important issue. In opening remarks, the American President stuck to bland flattery, saying he and Xi had a “fantastic relationship,” that Xi was a “great leader” and that “it is an honor to be your friend.” “The relationship between China and the USA is going to be better than ever before,” he insisted.

The two men sat opposite each other at a pair of long tables in their opening session in the Great Hall of the People in Beijing. Flags stood at the head of the table and flowers separated the two leaders. State media televising their opening remarks. It was an early indication of Xi’s confidence that he has the upper hand over an American president distracted and stretched by his war against Iran. This summit could be perilous for Trump.

This summit could be perilous for Trump

This summit could be perilous for Trump

Ahead of their meeting, there were signs of almost desperate maneuvering to come up with something – anything – that Donald Trump could call a deal. There were last-minute meetings between officials in Seoul on the eve of the summit, and confirmation that Jensen Huang, the CEO of Nvidia, would be joining Trump in what felt like a summons. Nvidia’s top end chips are crucial for training AI models, and the US has sought to keep the most advanced components out of China, which has launched a massive smuggling operation to get them into the country.

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On his way to the summit, Trump demanded that China “open” its markets to US business, and announced that he does not need Beijing’s help in ending the war in Iran (read: he would like it, but has been rebuffed). Yet in signs of Beijing’s hardening position, China’s Ministry of Commerce........

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