Trump and Xi Forge Trade Deal on Beef and Boeing, But China’s Pledges May Not Hold

Former U.S. diplomat Marshall Billingslea described President Donald Trump’s recent meeting with Chinese President Xi Jinping as the kind of high-level diplomacy expected between the world’s two largest economies. Speaking in an interview, Billingslea emphasized that agreements announced after the talks were substantive rather than symbolic, highlighting the return of U.S. beef exports to China and a major Boeing aircraft purchase.

“This is what a proper summit between the leaders of the world’s two largest economies should look like,” Billingslea said. “I think these trade deals are not bluster. I think they’re real.”

However, he cautioned that Beijing has a history of making commitments it does not follow through on. “Though the Chinese do have a habit of declaring they’ll buy soybeans and sometimes don’t follow through—so we’ll have to hold their feet to the fire,” he added.

During bilateral talks with Trump, Xi called for expanded cooperation in trade and agriculture. The leaders also announced temporary easing of trade tensions that had escalated over tariffs, export controls, and strategic competition. Their agreement included steps aimed at boosting trade and stabilizing relations between the two economic powers. Xi stated China’s “door of opportunity” would open wider and met with U.S. business leaders who accompanied Trump.

The United States and China previously reached a trade truce last year to calm threats of steep tariffs on each other, with ongoing discussions indicating mutual interest in extending the agreement. Billingslea, who served in senior national security roles during the first Trump administration, noted the return of U.S. beef exports was particularly significant for American agriculture producers and highlighted the Boeing deal as a major economic win.

“I didn’t see rare-earth elements mentioned in either readouts, but I’m sure it was discussed,” he said. Rare-earth minerals remain critical to advanced manufacturing, defense systems, and electronics production, with China dominating much of the global supply chain. Billingslea also observed that artificial intelligence—a growing area of competition—was absent from official post-summit summaries despite discussions within the Trump administration. “I didn’t see artificial intelligence discussed, though Scott Bessent spoke to it,” he added.

Billingslea underscored that the Trump administration has increasingly framed economic negotiations with China as part of a broader competition involving technology, manufacturing, and national security.