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May 18, 2026

Beijing Summit Issues for Year of Meetings

Macro ThematicMacro Economic IndicatorsCommoditiesEquitiesIndustrialsInformation Technology

Presidents Trump and Xi's Beijing summit established a framework for 2026 relations, trading large-scale US commodity and aircraft purchases for geopolitical stability.

Key Takeaways

  • 1.Presidents Trump and Xi met in Beijing, highlighting a significant divergence in priorities: the US focused on near-term trade purchases, while China prioritized geopolitical stability and Taiwan.
  • 2.Specific trade commitments were outlined by the White House, including the purchase of 200 Boeing planes and $17 billion annually in US agricultural products through 2028.
  • 3.A 'grand bargain' may be emerging where China offers trade concessions and help with Middle East stability (Strait of Hormuz) in exchange for US restraint on Taiwan and sanctions.

Table of Contents

  • Bottom line:
  • Main points:
  • Disclosure Appendix
  • Global product; distributing entities
  • General disclosures

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Authors

Andrew TiltonHui Shan

Securities

BANVDABABA700 HKByteDance

Themes

US-China Geopolitical Trade-offsStrategic Semiconductor Sovereignty

Regions

Asia PacificNorth AmericaMiddle EastChinaUnited StatesTaiwan