Trump begins China summit with Xi Jinping meeting — NBC News

[9:16] And good day from China. I'm Tom Yamas. Any moment now, history will unfold before our eyes [9:22] as President Trump holds a high-stakes summit with Chinese President Xi Jinping at the Great [9:27] Hall of People here in Beijing. If you look at the left side of your screen, you can see [9:31] China's leader right now descending the steps at the Great Hall of People. This is where this [9:36] meet and greet will happen. If you will, you can see both the U.S. and the Chinese delegation [9:41] set up here. China first on your screen right now. President Xi walking by the delegation as [9:47] he's going to approach and we think greet President Trump at some point right now. [9:51] These events are ongoing and we are bringing it to you live as they happen here in Beijing. [9:55] Our Garrett Haake is also on hand, not too far from where all of this action is happening. [10:00] Garrett, from your vantage point, what can you see here? We knew the president came with an armada, [10:05] if you will, of American CEOs to flex sort of that financial and business power of the U.S., [10:10] but also looking to make some deals here. [10:12] Those are arrayed behind the U.S. delegation are awaiting the president, [10:19] including some of his top cabinet officials as well as Marco Rubio, Secretary Besson here. [10:26] I'm trying to speak very quietly here to be respectful. This ceremony is underway. [10:30] You see a massive honor guard here in the Chinese military. There are a few hundred children here [10:34] with Chinese and American flags waiting to greet the president. Of course, the literal and figurative [10:39] red carpet being laid out here for what is a multi-day state visit with a lot on the agenda here today, [10:44] Tom. [10:45] Yeah, Garrett, we thank you for that. We understand you wanting to be respectful to all the children [10:51] we see there. As the ceremony is beginning, we see the world-famous beast, of course, the Cadillac [10:56] that is carrying President Trump as he approaches to meet President Xi Jinping here in Beijing. His [11:02] second trip as commander-in-chief, you'll remember less than nine years ago, the president first came [11:07] here. A much different trip and the things being negotiated. A lot of them are the same, [11:12] but hanging over all of this, of course, the war in Iran. And will President Trump ask [11:16] President Xi for his help in either opening the Strait of Hormuz? You'll remember China and Iran [11:22] have a very close relationship. China buys 80 percent of Iran's oil. And also the back of all [11:28] of this to Venezuela, which China had a huge relationship with Venezuela as well, purchasing [11:32] oil from them as well. It'll be interesting to see how many things they talk about. What does China [11:37] want? What does the U.S. want? And to answer some of that question, I want to bring in our good friend, [11:41] Gabe Gutierrez, who joins me from our live position here in Beijing. Gabe, the president may want to [11:46] talk business, but we know the war in Iran is still front and center. And regardless if he says, [11:51] you know, the financial implications are not weighing his decision-making on Iran, [11:56] gas prices are very high. The polling is very low. [11:58] Yeah, certainly, Tom. And that is something that President Trump, his administration, [12:02] very conscious of. We heard it right now. We heard it earlier today when Vice President Vance was [12:09] asked about the president's comments yesterday. The president, President Trump, was asked by [12:14] reporters yesterday, and he said that he did not consider. As we see our first images of President [12:20] Trump exiting the beast right now, as he's about to greet President Xi, let's listen in for a moment. [12:30] Big handshake here. Gave an extended handshake there. We, of course, couldn't hear what the two leaders [12:50] were saying to each other. As we mentioned, they've met before as recently as October, [12:55] correct, in South Korea, where they were also trying to strike some deals here. [12:58] That's right. And look, right there, that is the image being seen really around the world. [13:04] President Trump walking with President Xi. President Trump, as every opportunity he gets, [13:09] has been talking about the close personal relationship that he has had with President Xi. [13:13] This is the first time that they've met face-to-face here in China since 2017, [13:19] that they have met, you know, many times during both presidencies. And President Trump inviting [13:25] President Xi back to Washington later this year. And as we see, you know, both leaders now shaking hands. [13:33] Yeah, it looks like the president here is meeting the Chinese delegation and both military leaders [13:38] and leaders within China's Communist Party. The military, the PLA right now, President Xi has transformed [13:46] the military in many ways in the less than nine years since the president was last here. [13:51] China hopes to have the most advanced military in the world, but still admitting that the U.S. [13:56] has the most powerful military. And here we're going to have President Xi as he's going to meet the [14:00] American delegation. Just behind that poll, you can't see right now, but that is Secretary of State [14:06] Marco Rubio, who is now shaking hands with President Xi. Quite interesting because Rubio had been [14:11] sanctioned and not invited here for several years, banned essentially from China. We see Secretary [14:16] Besant, Pete Hegseth, Defense Secretary as well. And it looks like Stephen Miller as well getting to [14:23] shake the hand of President Xi. Very interesting there. And then right before him, the trade, [14:27] Representative Jameson Greer. And that, of course, then you have James Blair, Deputy Chief of Staff [14:33] right there. Look, trade looming very high on the agenda, on the agenda list today. That's something [14:40] that the president and his administration, as you mentioned, hoping to announce some sort of [14:45] investment deal. It's a major question. What exactly will they be able to come away with? [14:50] And the president bringing several high power, more than a dozen CEOs from the U.S., including the head [14:57] of Boeing. Could we potentially see an announcement where China agrees to buy several hundred more Boeing [15:02] planes? That is something that we're watching. It's something that the Trump administration wants [15:05] to focus on. But yes, as you said, Tom, Iran zooming over this. This is such an interesting [15:11] image because a lot of these people that are shaking President Xi's hand right now or just were [15:16] are China hawks. They've been very tough on China. They have said that essentially in so many words, [15:20] China is America's enemy, America's greatest competitor. And yet they are here also in China to cut [15:26] deals. They have to be here with the president in a show of force, if you will, but also in a show of good [15:32] faith that America wants to negotiate. They want to figure out something with China in the open. [15:38] And you mentioned it earlier when we were on Nightly News that there will be conversations [15:42] in public and there will be conversations in private. And it's what happens in private that [15:46] really matters. Yeah, it's exactly right, Tom. And look, President Trump has said that he hopes to have [15:52] a very long talk with President Xi about Iran. But again, we likely won't see any of that publicly [15:58] over the next day or so, which, by the way, this is a very long day filled with pomp and pageantry. [16:04] After this, you know, we expect President Xi and President Trump to head into a bilateral meeting. [16:10] Cameras will be there to capture the very, very beginning of it. But then the face-to-face [16:14] private meeting will happen behind closed doors. So we won't see what happened. We won't hear [16:19] what happens there. [16:21] The National Anthem, I'm being told, and though we can't hear it, the National Anthem is being [16:25] played right now at the Great Hall of People. Garrett Haake is somewhere just behind those [16:31] children. Actually, we have sound now. Let's listen. [16:33] President Trump here now being greeted by schoolchildren in China. Trump seeming to enjoy [20:47] this spectacle here. Chinese schoolchildren jumping up and down with flowers and American [20:53] flags. Garrett Haake is just behind those schoolchildren with a very unique perspective on what's [21:14] happening right now. He's going to speak in a sort of golf broadcaster tone as to not be rude. [21:19] Garrett, what can you tell our viewers about what you're witnessing here? [21:36] Hi, Foundry. [21:37] President Xi, side by side and soon to be face-to-face, negotiating, figuring out a slew of [22:01] issues, including possibly the war in Iran, trade negotiations, the future of AI, and maybe even [22:08] the future of Chinese EVs. Gabe Gutierrez is joining our coverage here in Beijing. And Gabe, [22:14] the president said mixed signals about Chinese EVs. It's a huge factor for the U.S. auto [22:20] industry, but also U.S. lawmakers who feel that possibly it's a threat to national security if [22:25] these cars were to come in at very, very low costs. [22:28] Look, the president earlier today had suggested that it's his goal here to open up, to get China [22:34] to open up more to American companies, not just with EVs, Tom, but also to perhaps get chip [22:44] manufacturers, AI chips, to be able to go into the Chinese market potentially and allow the U.S. [22:52] to export more AI chips to China. Of course, that is very controversial. There's a fierce debate [22:56] about whether that's a good idea, given potential national security concerns. And then there are [23:01] others who say that cutting out China from the AI chip market could melt and make them more [23:08] self-reliant and cut out the U.S. in the future. So this is certainly something that the president, [23:15] the Trump administration, they're going to have to walk a very fine line here. But there remain a lot [23:20] of unanswered questions about what they're going to be able to announce in terms of any investment [23:25] perhaps later on today or into tomorrow. You know, senior administration officials had said [23:29] that one of their goals here is to talk about rebalancing the relationship between China and [23:35] the U.S. Could there potentially be some sort of board of investment, a board of trade that the two [23:39] countries agree on moving forward? So a lot of political observers don't expect any grand bargain [23:45] here from the two leaders. This might just be perhaps a framework for future trade with China. [23:52] But we've come a long way, Tom, from where, you know, the U.S. and China relationship was [23:56] last year with President Trump imposing those sky-high tariffs. There's been a very fragile [24:01] truce when it comes to trade since then. But coming out of this high-stakes meeting, where does it [24:07] go from here? And what does the U.S. accept as a victory here, given, you know, this very fragile [24:16] trade truce that is, you know, that has been in effect since last year? But yeah, Tom, you're right. [24:22] A lot of questions about the future of EV. I know you have said, and I know you were at a car dealership [24:28] earlier this week, where there has been an incredible, you know, it's remarkable to see some [24:34] these EVs produced here in China that can sell for as low as the equivalent of $12,000. If those [24:41] were to ever make into the U.S. market, what would happen to U.S. carmakers? And could it be a situation [24:47] where, you know, U.S. carmakers are, you know, face their own issues if Chinese EVs were ever breaking [24:54] into that market? Gabe, we thank you for that. I want to go straight to NBC News' international correspondent, [24:59] Janice Mackey-Frayer. She lives here in Beijing with her family. She covers China for us. Janice, give our viewers [25:04] a little bit of a perspective and history of where this is taking place right now. Well, this is [25:11] happening at the Great Hall of the People, which is on the western side of Tiananmen Square, the [25:18] forbidden city in the background with the portrait of Chairman Mao. The place that you see in historical [25:25] pictures on television, it really is a storied place. And this has been quite a welcome reception [25:32] for President Trump that China's Xi Jinping has coordinated. You'll recall that President Trump [25:39] had been quite envious of President Xi's military parade last September. He made some comments about [25:46] how beautiful it was. And it seems that President Xi has organized a small version of it as a symbol of [25:54] how important and pivotal this summit could be. Pivotal for a global economy that is going through [26:02] conflict and trade tension. Both sides will be aware of the optics of this summit as they both look [26:11] to come out looking strong, both wanting to come out with some headlines. And for Xi Jinping in particular, [26:18] wanting to ensure that there is some stability for China in its relationship with the United States. [26:25] Janice, anything else you've noticed? You've watched a lot of these. You've seen a lot of presidents do these. [26:32] Is there anything you're noticing that is unique about this ceremony so far? [26:39] Well, when President Trump visited back in 2017, it was billed as a state visit plus. They really pulled out all the [26:47] stops. So in the preparation for this summit, which was, of course, delayed by the Iran war, there was [26:54] the sense that somehow China had to offer something that was almost as good, something different. We're [27:02] going to see them inside the Great Hall of the People in some of the ornate meeting rooms there. In a few [27:10] hours, President Trump and Xi will take a private tour of the Temple of Heaven. There will be a state banquet [27:16] later. There will be tea and lunch tomorrow at Jiangnanhai. That is the residence of President Xi, [27:23] as well as many of the senior Politburo officials, standing committee officials. [27:30] What we're seeing is the deep the attention to detail that China puts into everything. And people will be [27:38] looking at what they eat, what they drink, the colors of their ties, who clinks glasses with whom, [27:47] as indications of the kind of negotiations and discussions that have been that are happening [27:52] behind closed doors. But we have to bear in mind, and you mentioned this earlier, Tom, this is a much [27:58] different China that President Xi is that President Trump is visiting over 2017. On the way in from the [28:07] airport last night, he would have seen the super highways, the infrastructure, the tall buildings, [28:15] the glitz, the sense that China is now a very prosperous place. And also that globally, [28:24] the mood has shifted. And China is now seeing its influence extended. And Xi Jinping wanting to [28:32] present himself as a global statesman and China as this oasis of stability in a world of chaos. [28:43] Janice, we were seeing President Xi there look to be somewhat jovial, smiling and almost laughing with [28:50] President Trump. Is that something you see a lot? Because I'm just thinking back on a lot of the [28:55] footage we see of China's leaders usually pretty stern. President Trump has talked often about his [29:04] friendship with Xi Jinping. He talks about him being a gentleman, says that he loves his country. [29:10] And there does appear to be a good relationship between the two men. That said, they are still [29:15] competitors. And they're going to be addressing some very thorny issues in these negotiations, trade [29:21] tensions, rare earths, critical minerals, tariffs, technology, Taiwan, all of these issues that have [29:30] long been flashpoints in the U.S.-China relationship. For Xi Jinping, he's probably looking less for [29:36] friendship out of this than to have some sort of stability, to be able to manage tensions in the [29:43] relationship in the longer term to give some traction for the Chinese economy. But we will see him being a [29:51] gracious host. The sort of events and activities that they have planned for this two-day visit [29:57] are a notch above what you would see for a lot of visiting heads of state. There's been a lot of hype [30:03] as well. People on social media are posting videos of the plane arriving last night, of the motorcade going [30:10] through the city. Traffic is being brought to a standstill so that it's a smooth ride wherever they go. [30:17] Even we had to adjust last minute, Tom. About 30 minutes before we went on the air, we had a visit [30:23] from authorities saying that we couldn't stand on our balcony all day, which is why we've shifted [30:29] slightly indoors. So really, a lot of attention is going into every aspect of this visit to make it [30:36] memorable. Yes, Janice. Thank you. I want to see if we can get to Garrett Haake. He might be scrambling. [30:43] I see a lot of press running now to enter the Great Hall. Garrett, if you're still with us, [30:47] if you're still out there, what are you seeing? Tom, the ceremony here on the Great Hall, [30:53] or on the sort of steps of the Great Hall is wrapped up. The delegations have gone inside. [30:57] The bands are clearing out. The school children here are congratulating, are being congratulated [31:01] by their teachers for a job well done. I just want to kind of dovetail with what Janice was saying, [31:06] to say that all of what you saw in terms of the pageantry, the attention to detail, [31:10] is meant to project the same image that China wants to project politically. That is stability. [31:15] Everything is under control. For President Trump, that's not necessarily his political style. [31:20] The thing to watch out of this for all of it, for me, is still going to be the trade focus, [31:24] the business focus. The president said last night on social media on the way here, [31:28] he wants to ask China to open up its market. That's ask number one. It's ask number two and three. [31:33] He needs the economic boost. But historically, that's something that Western governments have been [31:37] asking China for for 200. And everything you saw here today from the Chinese Communist Party is [31:45] meant to say we're in control. We run this town. Everything is sort of planned down to the detailed [31:51] level. And I think that's the situation that the president will walk into when the doors close [31:56] inside that great hall for the private meetings. All right, Garrett, we thank you for that. We're [32:03] now looking at the American delegation. You see the cabinet there, along with [32:07] some of the CEOs who actually, I think this is just going to be the U.S. cabinet right now, [32:12] the president's cabinet for the bilateral talks between China and the U.S. as they enter here. [32:17] There'll be an official photo as well. We're waiting for both leaders to enter. I can say, and Gabe, [32:22] you can back me up on this one. It is squeltering right now in Beijing. It is so hot. And I'm sure [32:26] the president and China's leader as well are going to be happy to enter the great hall and get to talking [32:32] and get to negotiating inside the air conditioning. Yes, certainly that air conditioning will be [32:36] will be huge right there for the delegation. You see Secretary of State Marco Rubio there pointing [32:41] to something in the ceiling. And yeah, Tom, as you were speaking with Janice, it was really struck me, [32:47] struck me was the sort of what you what passes is a jovial interaction between President Xi and [32:55] President Trump. You saw President Trump even pat Xi on the shoulder or in his arm several times as [33:02] they walked around. But now you do see the U.S. delegation there and top White House aide Stephen [33:07] Miller and the defense secretary, Pete Heiksteth as well. They're in that room preparing for these [33:13] bilateral talks, which, you know, it will be interesting to see, Tom, just how long these [33:18] talks last. Now, we're only going to see the first few seconds of them as cameras are ushered into the [33:23] room. But then the real negotiation begins between these two superpowers and something to be a fly in the [33:29] wall in that room as this all unfolds over the next several hours. And we're seeing Secretary [33:35] Besson right now speaking with the ambassador, David Perdue from the ambassador here in China, [33:41] who is one of the most important playmakers, right, in all of this, a person who has to live [33:46] here in Beijing, deal with the relationship, the back and forth. And there you see President Xi [33:52] walking into the room there, President Trump as well. And yes, you said Treasury Secretary Scott Besson [33:56] is huge in how this is all playing out. Also, the trade representative, Jameson Greer, [34:02] you'll remember, you know, last year, both were so instrumental. [34:05] We should tell our viewers real quick, because they might be getting, you know, [34:08] some nausea. This is a pool feed, unclear who's behind the camera right now, [34:13] but they're trying to set their camera up right now, get on some tripod, get on a tripod, [34:18] hopefully, and establish a shot, which it looks like they're about to. [34:21] That's right. And then, Tom, we should point out, just to pull back the curtain a little bit, [34:24] this is, you know, just a traveling pool of reporters. They are shuffled in there very [34:29] quickly to try and get this picture. They are scrambling as quickly as they can [34:33] to get in place and battle all the communications issues that you might see some breakup in the [34:38] picture. But it looks like they're putting in their earpieces for the real-time translations [34:43] as they speak to the Chinese. [34:46] And interesting, interesting who President Trump has next to him, right? The ambassador on one side [34:50] and Secretary of State Marco Rubio on the other? [34:52] Yes, certainly. Look, Secretary of State Marco Rubio, as you know, Tom, wears many hats these days. [34:56] He's not only the Secretary of State, he's also the National Security Advisor, [35:00] in addition to several other roles in this administration. And yes, it is very interesting [35:05] to see how this is, how they're all laid out, those top members of the Trump administration. [35:09] Let's listen in, Gabe. I think we're going to be able to get some audio. Let's listen. [35:12] Thank you. [35:15] Thank you. [35:21] Thank you. [35:23] This is the history of the world and the world. [36:11] And to the American people, I always believe that our two countries have more common interests [36:42] than differences. [36:46] Success in one is an opportunity for the other, and a stable bilateral relationship is good for the world. [36:55] China and the United States both stand to gain from cooperation and lose from confrontation. [37:01] We should be partners, not rivals. [37:03] We should help each other succeed and prosper together and find the right way for major countries [37:08] to get along well with each other in the new era. [37:13] Mr. President, I look forward to our discussions on major issues important to our two countries and the world, [37:20] and working together with you to set the course for and steer the giant ship of China-U.S. relations [37:29] so as to make 2026 a historic landmark year that opens up a new chapter in China-U.S. relations. [37:39] I will pause here and hand over to you, Mr. President. Thank you. [37:46] Well, President Xi, I want to thank you very much. [37:51] First of all, that was an honor like few have ever seen before. [37:58] And I think I was particularly impressed by those children. [38:03] They were happy. [38:04] They were beautiful. [38:05] The military is obvious. [38:07] It couldn't be better. [38:08] But those children were amazing and they represent so much. [38:11] And I know they represent so much to you. [38:14] You and I have known each other now for a long time. [38:18] In fact, the longest relationship of our two countries that any president and president has had. [38:25] And that's to me an honor. [38:27] We've had a fantastic relationship. [38:30] We've gotten along. [38:31] When there were difficulties, we worked it out. [38:34] I would call you and you would call me. [38:36] And whenever we had a problem, people don't know. [38:39] Whenever we had a problem, we worked it out very quickly. [38:42] And we're going to have a fantastic future together. [38:47] I have such respect for China, the job you've done. [38:50] You're a great leader. [38:51] I say it to everybody, you're a great leader. [38:53] Sometimes people don't like me saying it, but I say it anyway because it's true. [38:57] I only say the truth. [38:59] And I just want to say on behalf of all of the great delegation that we have. [39:04] We have the greatest businessmen, the biggest, and I guess the best in the world. [39:08] We have amazing people and they're all with me. [39:11] Every single one of them. [39:12] We asked the top 30 in the world. [39:16] Every single one of them said yes. [39:18] And I didn't want the second or the third in the company. [39:21] I wanted only the top. [39:22] And they're here today to pay respects to you and to China. [39:26] And they look forward to trade and doing business. [39:30] And it's going to be totally reciprocal on our behalf. [39:33] So I really look very much forward to our discussion. [39:36] It's a big discussion. [39:37] There are those that say this is maybe the biggest summit ever. [39:40] They can never remember anything like it. [39:42] I can say in the United States, people aren't talking about anything else. [39:48] But it's an honor to be with you. [39:50] It's an honor to be your friend. [39:52] And the relationship between China and the USA is going to be better than ever before. [39:57] Thank you very much. [39:58] Thank you. [39:59] We've just been listening to China's leader, Xi Jinping. [40:19] Sounds like President Trump. [40:21] Okay. [40:23] We were waiting to see if President Trump was going to say more. [40:28] Sounds like they're moving the cameras out, Gabe, which is a sign that the bilateral talks [40:32] will soon begin. [40:34] Yes. [40:35] Very, very simpatico, if you will, at least from the get-go, the beginning of this bilateral [40:41] meeting. [40:42] And the president paying a lot of compliments, a lot of flattery to the leader of China. [40:45] Sure. [40:46] And you just wonder if that flattery comes just before a lot of asks. [40:49] That's exactly right, Tom. [40:50] You know, it struck me. [40:51] The body language and also just how both leaders approached that opening statement. [40:58] President Xi, very measured, hanging on every word. [41:01] Yeah. [41:02] President Trump, at least seemingly, seeming to speak off the cuff, as he likes to do, very [41:08] taken aback by the welcome ceremony that he had received, both right there at the Great [41:13] Hall and also the night before, getting that red carpet welcome. [41:17] And yes, in terms of the asks, this is where the rubble will meet the road, right? [41:22] What will the U.S. ask China in exchange for possibly these investments in the U.S. that [41:29] we've been hearing so much about? [41:32] What will China ask for when it comes to perhaps Taiwan? [41:36] That's an issue that we've been talking about a lot leading up to this summit. [41:40] Will President Trump make an ask regarding Iran, as he has been giving mixed signals of whether [41:47] he will do or not? [41:48] Does he want some sort of concession from the Chinese when it comes to the Strait of Hormuz [41:52] or not? [41:53] Yeah. [41:54] Gabe, stand by for us. [41:55] I do want to bring in our good friend Rush Doshi. [41:56] He's director of the China Strategy Initiative at the Council on Foreign Relations. [42:00] And he served as deputy senior director for China and Taiwan on President Biden's National [42:05] Security Council and someone I spoke to at length before my trip here, my reporting trip [42:09] here in Beijing. [42:10] It's great to speak with you. [42:12] You are someone who has made a career of watching China. [42:15] Give me your first observations of what we've seen so far and what each leader was saying [42:20] there at the table. [42:21] Well, thanks, Tom. [42:23] Great to be with you. [42:24] And I'll just say two things come to mind right off the bat. [42:27] First, the circumstances of this pageantry were really kind of remarkable and clearly [42:32] had an impact on President Trump. [42:33] But I will say it comes slightly below, I think, what we saw nine years ago when President [42:38] Trump last came to Beijing. [42:39] Still, nonetheless, quite affecting, clearly, for the president, as you can hear from his opening [42:43] remarks. [42:44] The second thing you take away is watching the contrast between President Trump and President [42:48] Xi's opening remarks is really quite significant. [42:50] It's often the case that both sides will prepare these opening remarks and read them. [42:55] Now, President Xi basically did do that. [42:58] President Trump is speaking almost entirely extemporaneously. [43:00] What do you think President Trump is going to be asking for here? [43:07] What's at the top of his list? [43:09] What's at the top of China's list? [43:10] I think President Trump has a few priorities. [43:13] Let's just say both sides are looking for stability right now in the relationship. [43:17] And this meeting is a lot more about symbolism than it is about substance. [43:21] But I think President Trump does have a few specific things in mind, particularly on the [43:24] trade side of the relationship. [43:26] There, as we've heard today, he wants to finally secure the sale of American Boeing aircraft [43:31] to China as well as agricultural products like soybeans and beef. [43:35] And there's some talk that possibly he'll outline with President Xi a new Board of Investment [43:40] and Board of Trade, which will help govern the trade and investment relationships between [43:43] the two countries in a more managed way that would ordinarily be the case to, you know, [43:48] the normal market. [43:49] But more than that, I think there's going to be a desire on both sides to have this meeting [43:53] look like a success. [43:54] And the important thing is that the symbolism here is going to be as important as anything [43:58] else. [43:59] If the meeting looks good, I think both sides will walk away feeling that it went well. [44:03] And then China, you would think their top priority with the U.S., would it concern AI [44:12] chips? [44:13] Would it concern Chinese EVs? [44:14] Would it concern anything in the Strait of Hormuz and trying to get more tankers out? [44:18] There have been reports that Chinese tankers, Iran has let some of the Chinese tankers through. [44:23] Yeah, and that's a good point. [44:25] In addition on the U.S. side to seeking, you know, some kind of progress on trade issues, [44:30] Iran is a key issue for this summit. [44:32] And we know that President Trump has been saying and that his team has said publicly [44:36] that he will be pressuring President Xi on the Iran question. [44:39] In particular, I think President Trump is seeking a few things. [44:42] One is he wants China to stop buying as much Iranian oil. [44:45] And he also doesn't want to see, and it's been reporting today, that China might supply [44:49] Iran weapons either overtly or covertly that could be used against the United States. [44:54] That is fresh news today. [44:56] And the reality is that the U.S. is going to ask for that not occur. [44:59] And from the Chinese perspective, the top priority, in addition to having a stable meeting [45:04] that basically puts the U.S. competitive posture back into a box, they're also going to [45:08] want to see the U.S. maybe make some progress on Taiwan. [45:11] They want to see the U.S. position change. [45:13] The Chinese side has been telegraphing now for many, many weeks that they expect that [45:17] Taiwan will be raised by President Xi and it will be a big issue. [45:20] And what specifically they want is for the U.S. to change its Taiwan policy for the first [45:24] time in 40 years, as well as to pre-negotiate with China on the question of what weapons [45:29] the U.S. sells to Taiwan, something that is against U.S. policy but a top priority for President Xi. [45:34] I'm being told President Xi just said that the U.S. and China should be partners, not competitors. [45:43] Do you think he's being honest? [45:45] Well, you know, the language that we heard from President Xi was not atypical. [45:51] Having staffed some of these previous summits for President Biden, and many of these videos [45:54] are available online for viewers who might be interested, you can see President Xi says [45:58] the same kind of things in these settings. [46:01] It's careful. [46:02] It's measured. [46:03] It's positive. [46:04] He'll say stuff like, we're partners, not rivals. [46:07] Although, realistically, China acts in many ways as if we are intense competitors, rivals, [46:11] and potentially future adversaries as well. [46:13] So, you know, you have to say the right things in a setting like this and maybe a light over [46:17] the facts just a bit. [46:19] President Trump, notably, though, very different, of course. [46:22] Not reading from any kind of prepared script the way most American leaders would in a situation [46:26] like this. [46:27] And really just speaking off the cuff, talking about how the pageantry really moved him, [46:31] as well as talking about how he hopes that this summit, which is, as he put it, the biggest [46:35] summit ever, as some are saying, is a success. [46:38] And that, you know, is pretty sincere. [46:41] Rush, we thank you for your time. [46:45] Gabe, walk our viewers through what we're going to expect over the next coming hours. [46:49] Well, over the next several hours, this bilateral meeting will unfold. [46:52] Then the president will head to the Temple of Heaven historic site here in Beijing before [46:58] later on tonight, a historic state banquet that the president will attend with President Xi [47:04] before some final meetings tomorrow. [47:07] But a lot unfolding here for the next couple of hours, Tom. [47:09] All right. [47:10] Gabe Gutierrez, part of our team here reporting on the president's historic visit to China. [47:14] We're going to pause now for an NBC News special report. [47:18] This is an NBC News special report. [47:40] Here's Tom Yamas. [47:42] Hey, good day. [47:47] We are coming on the air live from Beijing as we cover the historic summit between President [47:51] Trump and China's leader Xi Jinping. [47:54] The bilateral talks have just begun in the Great Hall of People here in Beijing, just outside [48:00] the Forbidden City. [48:01] We are covering every moment, again, of this historic trip. [48:04] The second time President Trump has come here to China as the commander in chief. [48:09] So much on the table right now. [48:10] The war with Iran, the war for AI, and really the global supremacy of each of these superpowers. [48:17] Who will come out on top? [48:19] President Xi just telling President Trump that they are not competitors. [48:22] They are partners. [48:23] We will see what is negotiated, what is discussed, and who comes out on top. [48:28] Gabe Gutierrez, part of our team here in Beijing. [48:31] The president comes here and says he does not need China and trying to solve what's happening [48:35] in Iran. [48:36] But we know that China is Iran's biggest ally. [48:38] Yeah, certainly. [48:39] And China has a lot of interest to find out what will happen with this conflict in Iran. [48:44] And President Trump and administration officials have signaled that they will try to lean on [48:50] China to try and bring this war in Iran to a close by reopening the Strait of Hormuz. [48:55] China, of course, importing so much oil from Iran, some 80 percent of, 80 to 90 percent of Iran's oil. [49:01] But there are several, many other issues looming over this summit, Tom, including, you mentioned, AI. [49:07] Also, the future of Taiwan. [49:09] And the question here, does China make some sort of ask to President Trump to shift or change, [49:15] however slightly, the U.S. policy towards Taiwan? [49:18] And we can't stress this enough, the president bringing 30 of the top CEOs of America here [49:23] to essentially say, I'm coming to China, but I want to talk business. [49:27] Yeah, that's exactly right, Tom. [49:28] And the president and his administration want the U.S. to announce some sort of investment deal with China. [49:34] Gabe, we thank you. [49:35] We'll have much more coverage of the president's China summit on your late local news on our streaming channel, NBC News Now. [49:40] We thank you. [49:41] Thank you for joining our coverage here. [50:13] We're continuing our coverage here on the bilateral talks between President Trump and China's leader Xi Jinping. [50:19] We are watching this moment by moment, the president arriving earlier to the Great Hall of People [50:24] just outside the Forbidden City in Beijing, walking side by side with President Xi and saying that they have a long relationship, [50:32] claiming that they have the longest relationship of any Chinese leader and U.S. president. [50:36] This is the president's second trip as commander in chief to China. [50:40] And there's a lot to discuss, whether it be on the front of Iran and what's happening there with the war or with business back home in America. [50:48] The president bringing not only members of his cabinet, but also 30 of the top CEOs in America to talk business. [50:55] Gabe Gutierrez is part of our reporting team here, covers the White House and covering this trip with me as we see these moments by moments. [51:02] These moments happen moment by moment, I should say. [51:05] Gabe, they're inside right now negotiating, talking face to face, inside those bilateral talks. [51:11] And each country obviously has their priorities and each country is going to want something and each country may have to sacrifice something. [51:17] Yeah. And look, we were talking earlier, Tom, about these CEOs that are here along on this trip. [51:24] And what does the U.S. offer in exchange for some extra Chinese investment in some of these U.S. companies? [51:34] Something else that has come up in anticipation of this trip is the issue of soybeans [51:40] and whether the U.S. will ask China to make good on some of the commitments that it previously said to buy soybeans from the U.S., [51:47] which are so critical to American farmers. But right now, you know, we will have to wait and see whether we do hear from the U.S. [51:57] about whether they do end up asking China about the issue that is moving over this summit significantly, [52:04] is the issue of Iran and what concessions, if any, the U.S. makes in order for China to perhaps lean on Iran to bring this conflict to an end. [52:14] The U.S. comes to this summit with much less leverage than it did perhaps last year. [52:21] Given what's unfolded in the Middle East over the last several weeks, the president feeling domestic pressure as well politically, [52:28] especially after his comments just yesterday, Tom, or earlier this week, [52:32] where he said that he was not making or not taking Americans' financial situation into consideration when it comes to the war in Iran, [52:39] that he was simply focused on preventing Iran from getting a nuclear weapon. [52:43] Politicians in the U.S. from the Republican Party, including the vice president today and also House Speaker Mike Johnson, [52:50] trying to clean up those remarks, trying to make the case that, yes, the U.S. does care about Americans' financial situations. [52:57] But this all comes amid an unfolding midterm election campaign where Republicans are very weary of where there will be in a few months, [53:05] given the rise in gas prices. [53:07] Now, the Trump administration trying to pivot from that, trying to make the case that the president is focused on affordability [53:13] and trying to highlight what the Trump administration could come out of these talks, [53:19] perhaps by announcing some of these investment deals which they argue will be good for the U.S. economy. [53:24] But incredible talks unfolding right now behind closed doors with these two superpowers coming face-to-face here in China for the first time in almost a decade. [53:33] All right, Gabe, thank you. I want to bring in NBCU's business and data correspondent, Brian Chung. [53:37] Brian, I learned a lot since I've been down here. [53:40] One of the things is that Apple is a company that many young people truly admire in China. [53:45] They have Apple Watches. They have Apple iPads and iPhones. [53:48] They think it is the gold standard when it comes to sort of personal computing. [53:52] And I wonder if that's one of the reasons why Tim Cook is here. [53:55] I'm sure there are many others. But with Tim Cook and Elon Musk, it's clear the president wanted to bring people that not only are successful in their disciplines of business, [54:03] but also people that the Chinese people know and respect. [54:07] Yeah. And Tom, you put it quite plainly and I think appropriately in saying that bringing all of these major CEOs to China is in and of itself a posturing from the United States that we want to walk out of here with a deal. [54:19] And look no further than the types of industries that are represented by those that were on the steps of the Renmin Da, Da Hui Tang, which is the Mandarin. [54:27] The English version is the great hall of the people. There were the images of that American delegation on the steps. [54:33] And of course, in that first front row were all of the cabinet members. [54:36] But on the second row, you did see some of those CEOs. [54:39] Apple's Tim Cook was there. You also had Elon Musk representing Tesla. [54:43] There are a number of Wall Street executives as well from Goldman Sachs, as well as Citigroup. [54:48] Jensen Huang, who is with Nvidia, obviously artificial intelligence is a major part of these discussions as well. [54:54] Making a last minute addition, had to join the president in Alaska to join Air Force One as part of a last minute call, according to sources to me. [55:01] 15 minutes? [55:02] But again, this is all about trying to get those deals done. [55:04] As you point out, technology is a big one. [55:06] China is one of the largest exporters of electronics goods. [55:09] But as you point out, it shows how intertwined our two countries are that the Chinese love American products like Apple iPhones as well. [55:17] Yeah. Brian, we thank you. [55:20] I want to bring in NBC News International correspondent Janice Mackey-Frayer. [55:23] Janice, you're somebody who watches China for us day in, day out. [55:27] What did you notice from at least President Xi's opening remarks to the president? [55:31] As you were talking about before, every word seemed measured. [55:40] Every word was chosen. [55:42] And because words are symbols of where the leadership is thinking. [55:49] And it seemed friendlier than probably a lot of other opening remarks that President Xi has made to visiting dignitaries. [55:57] He talked about wanting to have cooperation with the United States, that they should be partners and not rivals. [56:04] But they are still very fierce competitors. [56:07] And that competition touches a lot of issues. [56:10] It's technology, trade, tariffs, artificial intelligence, Taiwan. [56:15] So there are a lot of issues that are on the agenda. [56:19] But the one thing that both of these men seem intent to achieve is some sense of calm, of extending the trade truce, of reaching some sort of understanding between them, perhaps opening new channels of communication. [56:35] And in the longer term, managing the tensions in this very important relationship at a time when there's so much turmoil in the world and having an impact on the global economy. [56:46] So if there is no other deliverable in this summit, that could be it. [56:52] This idea that they're walking away with evidence that the two sides can get along. [56:57] Janice, stand by for us. [57:00] I do want to bring in Rush Doshi. [57:01] He's director of the China Strategy Initiative at the Council on Foreign Relations. [57:05] And he's also served as a deputy senior advisor, a director, I should say, for China and Taiwan on President Biden's National Security Council. [57:14] Let's talk Taiwan, Rush, right now. [57:17] How much does China want to talk Taiwan? [57:19] How much does the U.S. want to talk Taiwan? [57:21] Because the Secretary of State has made it very clear that he thinks everyone wants the Taiwan situation to essentially be status quo. [57:29] But that may not necessarily be what China wants. [57:33] Yeah, I mean, the longstanding U.S. position is that we want peace and stability in the Taiwan Strait. [57:38] The problem, though, is that Beijing has certainly greater ambition. [57:41] They'd like to basically have a bit more of a change in the U.S. approach to Taiwan, particularly some of our policy on Taiwan. [57:48] They want to see that maybe be adjusted by the president, either extemporaneously or as part of some negotiation. [57:53] That includes also the arms sales component. [57:56] The U.S. does provide Taiwan with weapons, has for a long time. [58:00] And there's a hope in, I think, Beijing that maybe that could change as well. [58:04] In addition, you know, we have to just understand why Taiwan matters so much to the world. [58:08] I mean, this is the place that builds all of the chips that go into all the data centers that are doing artificial intelligence across the United States. [58:15] Google coming out and saying they will do about a trillion dollars of CapEx, capital expenditure, AI data centers, all those chips, by and large, coming from Taiwan. [58:24] So, Taiwan is the most important issue in many ways that these two leaders could be discussing. [58:29] It is certainly the most sensitive. [58:30] But it's also the one where the gap may be the biggest. [58:33] China wants to ultimately see movement and progress towards unification with Taiwan. [58:37] The U.S. wants the status quo to continue. [58:39] And in this meeting, the question for the president will be, will he change U.S. policy on Taiwan or keep things as they've been for about 40 years? [58:46] How much is Taiwan watching these negotiations and these talks as they go back and forth? [58:55] It seems like any time any country visits Taiwan, makes a trade deal with Taiwan, they immediately are in trouble with China. [59:02] I mean, if you're in Taiwan right now, you're watching a meeting between the U.S. president and the Chinese president with some degree of concern. [59:11] It's often the case. [59:12] There's always a bit of anxiety about what exactly is going to be discussed on the question of Taiwan itself. [59:18] And they realize they don't have direct control over that agenda. [59:21] Right now, I think that there's a sense that the relationship between the U.S. and China is in a period of sort of detente or some stability. [59:29] Maybe that also takes the Taiwan issue down a notch. [59:32] That's the more positive view. [59:33] The other view is that this detente or stability gives Beijing license to do more in the strait than it would otherwise do. [59:40] You may be able to put more pressure, for example, on Taiwan than would otherwise be conceivable because it has confidence maybe the U.S. won't push back. [59:49] So the administration has been quite clear. [59:51] On Sunday, we heard from senior administration officials that there's not going to be a change in our Taiwan policy. [59:56] That's their plan. [59:57] That's what they're saying. [59:58] No big change. [59:59] But if the president of the United States decides to do something different, that's up to him. [1:00:03] And the line right now from the Chinese side is maybe, and you hear this from think tanks and academics and folks connected, [1:00:09] maybe President Xi will offer something President Trump really wants, like trillions of dollars of investment in the United States, [1:00:16] maybe into electric vehicles, and the price for that very favorable deal would be a change in Taiwan policy. [1:00:23] That is what is possible. [1:00:25] I think it's not likely. [1:00:26] The administration is saying it won't happen. [1:00:28] But the president is the president. [1:00:32] OK, Rush, we thank you. [1:00:33] Stand by for us. [1:00:34] Gabe Gutierrez joins our coverage once again. [1:00:36] Gabe, people are watching this and saying the president is now in China, but back at home. [1:00:41] Gas prices are going higher and higher. [1:00:43] Grocery prices are going higher. [1:00:45] Inflation is growing higher. [1:00:46] When will the president solve what's happening in Iran to settle the domestic situations? [1:00:50] Well, look, the president said that this conflict would only last, you know, four to six weeks. [1:00:54] We're well past that. [1:00:55] And so, yes, there is a lot of frustration building in the U.S. among everyday Americans, [1:01:00] but also among the Republican Party, as I was saying earlier. [1:01:03] A question here is, you know, will President Trump go to President Xi? [1:01:08] And it's not just about the straightforward moves, but it's also potentially China providing weapons to Iran. [1:01:13] The president essentially acknowledged that that was still happening, even though it's something the Trump administration is obviously against. [1:01:18] Will President Xi come to some sort of acknowledgement or agreement, perhaps, with President Trump behind closed doors? [1:01:27] But this all comes, this ongoing conflict in Iran, the cost is also going up significantly. [1:01:32] We heard from administration officials just this week that the cost has gone already from 25 billion to 29 billion [1:01:40] and expected to keep going up and up and up. [1:01:42] And, yes, frustration is building among members of the president's own party. [1:01:47] So the president under pressure here on the Iran situation. [1:01:50] You'll remember, Tom, he postponed this trip in the first place because of the conflict in Iran. [1:01:55] He felt that he needed to come here, even with the conflict still ongoing, because he wants to win here. [1:02:01] And as your previous guest just said, it could be, and as Janice also just said, it could be that the president really wants to project stability here. [1:02:10] That's something China wants as well. [1:02:11] We'll see how this all unfolds in the next couple of hours. [1:02:14] Gabe, thank you. I want to bring him back, Brian Chung. [1:02:16] Brian, we've talked about two of the three Ts when we talk about China and the U.S. [1:02:20] We've talked Taiwan, tech. But what about tariffs? [1:02:23] Yeah, well, I mean, if you rewind to last year, it's been a real roller coaster on tariffs. [1:02:27] Again, at one point during the tariff wars, the United States was threatening a 145 percent tariff on anything coming in from China. [1:02:37] And business leaders that I was speaking to here stateside were telling me that is a nonstarter. [1:02:41] At that point, it's effectively an embargo because you're not going to import anything at those costs. [1:02:46] Now, when it comes to the U.S. trade relationship with China, it is worth remembering that outside of our neighbors to the north and south, [1:02:53] obviously for geographical reasons, China is our biggest partner. [1:02:56] They're our third largest trade partner behind Canada and Mexico. [1:02:59] It accounts for about $88 billion in trade just this year, 6 percent of total trade worldwide. [1:03:05] And I think that when you talk about the president bringing this entourage of CEOs with him, this is all about trying to get some of those billions of dollars in commitments like he has walked away from other country negotiations with tariffs. [1:03:18] You have to remember, when it comes to Boeings, this is going to be far from the first time the president might try to get a country to buy Boeings as part of tariff negotiations. [1:03:26] That happened with Indonesia. It happened with Japan. It happened with Bahrain. [1:03:29] So something that I've kind of heard, which is a bit cheeky, is that this could be about the three Bs, Boeings, beef and soybeans. [1:03:35] Soybeans were part, I want to remind everyone, of the trade negotiations last year. [1:03:39] Is there going to be follow up on that if the president walks away with some big purchase agreement on any of those Bs? [1:03:45] The president might see that as a huge win. [1:03:47] All right, Brian, I want to get back to Rush. Rush, you know, there's a huge issue, and we've talked about this before, about American-made computer chips, these AI chips that are so important. [1:04:00] One of the reasons why NVIDIA is here. And there's a great debate on whether China should get these chips. [1:04:06] And it sounds like they are, but there's still a lot of back and forth. [1:04:09] And the thinking is that any time something is sold to China, any time business is done with China, China has a lot of people. [1:04:15] They can always buy a lot of goods, but they tend to also take that and steal that IT and steal that IP and try to sell it on their own. [1:04:26] Yeah, there's a big question right now. [1:04:28] I mean, we saw that Jensen Huang, the CEO of NVIDIA, joined a delegation with President Trump really at the last minute. [1:04:34] He hadn't been invited. The president got wind of those reports. [1:04:37] I think he was concerned by them, invited Jensen Huang to join. [1:04:40] And Jensen flew to Alaska, where he jumped on the president's plane when it was undergoing refueling. [1:04:46] He and Elon Musk were the only CEOs on Air Force One. [1:04:49] And you have to wonder what they spoke about on Air Force One for a lot of that trip. [1:04:53] My guess is that probably Jensen Huang was asking the president to make it easier for the United States to sell advanced AI chips to China. [1:05:02] And that's a highly controversial issue. Right now, in many ways, the bipartisan view in Congress is that really those chips should be reserved for American companies because there's simply not enough for them. [1:05:12] They're all made in Taiwan and a handful of facilities. [1:05:14] And the view is there's a shortage that should go to Americans before they go to China, which could use that to create AI models that might not be in our self-interest. [1:05:22] So this is a huge debate. There's a lot of people in that delegation have differing views on that topic, including at that table next to President Trump. [1:05:31] And right now, the administration has signaled there's not going to be a big change on the policy. [1:05:35] They're not going to open up the ability for our companies to sell the best, very best semiconductors and chips to China. [1:05:42] That being said, it's the president's decision, too. And folks are watching. Will we see this be another area, along with Boeing aircraft and beef and soybeans? [1:05:49] Will we be adding chips to the list of things that the U.S. might be selling to China? [1:05:54] We're going to have to wait and see. Rush, we thank you for all of your perspective. [1:06:00] Gabe, again, for our viewers that are just tuning in, watching the beginning of these bilateral talks between President Xi and President Trump here in Beijing, the list of events that's going to happen here. [1:06:09] There are a series of events over the next two days. It's a jam packed schedule. [1:06:13] Yeah, that's right. Look, this bilateral meeting will unfold over the next couple of minutes or so, next hour or so. [1:06:18] And then President Trump heads to the Temple of Heaven, an iconic historic site here in Beijing. [1:06:24] It's where emperors used to pray for a good harvest. [1:06:28] And metaphorically, that is something that both countries say they want from this trip, some sort of cooperation. [1:06:37] At least that's what's being said publicly. So, yes, the visit, the tour of the Temple of Heaven later on this afternoon. [1:06:43] And then a state banquet later on tonight before the president meets with President Xi again tomorrow morning and then heads back to Washington. [1:06:52] But a lot of issues, as you've been discussing, still on the table here. [1:06:55] We'll see what sort of concrete announcement the Trump administration walks away from here. [1:07:00] But both countries looking to project this image of stability and as we just heard from their opening remarks. [1:07:06] In the lead up to this, the president was getting hammered with questions about domestic gas prices, about the war in Iran, what's going to happen. [1:07:13] He seemed to get frustrated at times with some of these questions. [1:07:16] He had wanted to put the Iran war behind him before he got here. That's clearly impossible. [1:07:20] He may have started this summit talking about Iran. He may end up talking about it by the end of it. [1:07:25] Yeah, certainly. Look, it's unclear whether the president will, you know, how he will interact with reporters. [1:07:30] Certainly the main question will be what ends up happening with the war in Iran and did he bring it up with President Xi. [1:07:38] The White House, look, is trying to figure out its messaging when it comes to what the president said earlier this week, [1:07:43] as we've been discussing about his comments about Americans' financial situation. [1:07:48] And that's something that the White House, frankly, over the last day or so has tried to have to clean up, both with the vice president and with the House Speaker. [1:07:55] But President Trump reiterating that message that he wants his base, his voters to know is that he did this because he wants to prevent Iran from getting a nuclear weapon. [1:08:05] Unclear, you know, how this all shakes out. [1:08:07] We do expect the White House, whatever announcement they do end up coming out with, they'll want to focus on the economy, not the war in Iran. [1:08:14] This is an important question. The president, will he take questions? Will he do any type of news conference? [1:08:19] He's never afraid to talk to reporters or to answer questions. But will that happen? Do we think that's going to happen before he leaves China? [1:08:24] At this point, it remains up in the air. He is here, as you said, with more than a dozen CEOs. [1:08:29] There's nothing this White House would want more than to have some sort of event, perhaps, with some of these CEOs to announce some sort of deal, [1:08:37] whether it be potentially the announcement of China agreeing to buy some Boeing jets. [1:08:42] That's something that the president would love to be able to come out and say. [1:08:45] But right now, what's unfolding behind those closed doors, as we look at those pictures from just a little bit earlier of President Trump walking with President Xi, [1:08:53] the rubber is meeting the road as we speak during those bilateral talks. [1:08:58] Gabe Gutierrez, we thank you for your coverage here. [1:09:00] We're going to be back here live with you as soon as President Trump emerges from the closed door summit. [1:09:04] As always, we have much more ahead on NBC News Now and online at NBCNews.com. [1:09:08] I'm Tom Yamas reporting live from Beijing. We thank you for watching. [1:09:11] On the Today Show, Craig Melvin has an exclusive interview with Murdoch's legal team. [1:09:20] They're going to talk about the ruling and what comes next for Alec Murdoch. [1:09:23] And then on Friday, you can tune into Dateline as they dig further into today's decision to upend one of the country's highest profile murder cases. [1:09:32] All of that is coming up, but don't go anywhere.