Gemini update During President Donald Trump's state visit to Beijing (May 13–15, 2026), he traveled with a high-profile delegation of 17 business leaders focused on reopening trade in high-tech and financial sectors. While Trump hailed the summit results as "fantastic trade deals," the outcomes were characterized more by conditional agreements and the extension of a trade truce than by immediate, firm breakthroughs.
- Nvidia & AMD: Trump reached a "monetization" deal allowing Nvidia and AMD to resume limited sales of advanced chips (like the H200) to selected Chinese firms in exchange for paying 15% of that revenue directly to the U.S. government.
- AI Guardrails: Preliminary discussions were held regarding international AI guardrails to prevent advanced models from being misused by non-state actors.
- Micron & Qualcomm: Executives from Micron and Qualcomm sought the removal of compliance reviews and the expansion of 5G licensing, though specific new contracts have not yet been confirmed by Chinese officials.
- 200 Aircraft Order: Trump announced an agreement for China to purchase 200 Boeing aircraft, specifically 737 MAX jets, with a "potential" for this to scale to 750 planes.
- Market Reaction: Despite the 200-jet announcement, Boeing shares fell as the figure was lower than the 300–500 units investors had anticipated.
- Tesla FSD: Elon Musk joined the trip to secure approval for Full Self-Driving (FSD) software in China. Analysts expect a "green light" soon as part of a broader deal involving Tesla's expansion.
- EV Manufacturing: Trump reiterated that Chinese automakers would be welcome to build plants in the U.S. if they use American labor, aiming to counter the "flood" of Chinese-made EV imports.
- xAI & Tech Investment: Trump claimed China plans to invest "hundreds of billions" into the companies represented in the room, though no formal investment vehicles or term sheets were released.
- Citigroup Breakthrough: On the eve of the summit, Beijing approved Citi's application to operate its own securities business in China, ending years of regulatory delays.
- Payment Services: CEOs from Visa and Mastercard pushed for wider acceptance of their networks within China's digital payment ecosystem.
- BlackRock & Blackstone: Larry Fink and Stephen Schwarzman focused on easing restrictions for foreign financial services firms and increasing market access for U.S. investment.
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