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From a ‘board of trade’ to Boeing planes, what did Xi and Trump actually agree to?

When the wheels of Air Force One lifted up from Beijing on Friday, US President Trump was wrapping a three-day visit with many questions still outstanding about what exactly he and Chinese leader Xi Jinping had agreed to.

Over the weekend, statements from both sides have started to demystify the outcomes of a meeting that was largely about resetting the tone between the world’s top economies after a fractious year that drove both to the edge of decoupling.

Now, the US and China are poised to set up two new institutions – a “board of trade” and a “board of investment” – to manage those economic ties, statements from the White House and China’s Ministry of Commerce confirmed Sunday.

After Trump’s pledge to ‘open up’ China, low expectations for trade deal

Analysts see only modest breakthrough in ties between world’s two largest economies.

Before arriving for his high-stakes summit with Chinese leader Xi Jinping, United States President Donald Trump aimed to set expectations high.

He said he would urge Xi to “open up” China’s economy and announced a delegation of top business executives, including Tesla’s Elon Musk, Apple’s Tim Cook and Nvidia’s Jensen Huang, to accompany him.

As Trump and Xi prepare to wrap up two days of meetings on Friday, the expectations among observers generally are modest at best.

While Trump and Xi are anticipated to extend the one-year pause in their trade war agreed to in South Korea in October, the prevailing outlook is a stabilisation – not revitalisation – in ties between the world’s two largest economies, which are locked in a rivalry that spans everything from trade and artificial intelligence to the status of Taiwan.

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