Xi heads to Trump summit as China's trade surplus surges
Chinese President Xi Jinping arrives in Washington this week for a summit with US President Donald Trump, with China's trade surplus surging while Trump faces falling approval ratings amid a costly war with Iran. Analysts say this shift in fortunes tempers expectations for major concessions from Xi. The September 24 meeting's main focus is whether the leaders will extend a trade truce struck last year that averted a global economic shock. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held preparatory talks in New York on Sunday, potentially covering AI guardrails and non-sensitive product trade. China's global trade surplus is on pace to top $1 trillion for a second straight year, with over half of product categories sold to the US growing compared to 2025. A Chinese business delegation, possibly including firms under US regulatory scrutiny, will accompany Xi to Washington.