Chinese President Xi Jinping is reportedly preparing to lead a large delegation of business executives to Washington for a summit with Donald Trump on September 24, according to a report by Reuters.
The delegation would mark a significant return to the practice of bringing top Chinese business leaders to the U.S., a pattern last seen in 2015. During that visit, the delegation included founders and executives from Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCEHY), alongside representatives from Chinese banks and state-owned firms.
That 2015 visit resulted in China signing a $38 billion agreement for the purchase of 300 Boeing Co. (NYSE: BA) aircraft. The upcoming summit is expected to focus on managing the relationship between the two nations, with a potential focus on agriculture and non-tariff barriers to expand American farm exports to China.
U.S. Trade Representative Jamieson Greer stated that while announcements on agriculture are expected, the administration is not seeking a sweeping trade pact. The inclusion of business leaders in the delegation is viewed as a signal of China's willingness to support investment and commercial ties with the U.S., which could provide the White House with economic victories ahead of the midterm elections.
Chinese companies have faced increasing U.S. scrutiny, including tariffs on electric vehicles, restrictions on drone and router imports, and blacklisting of major tech firms over national security concerns.
