Trump, Xi, and the New U.S.-China Bargain

In this episode of Cache Me if You Can, we examine the state of U.S.-China relations following President Trump and President Xi Jinping’s latest summit in Washington. Against a backdrop of intensifying technological competition, economic tensions, and geopolitical uncertainty, the two leaders sought to stabilize the relationship while pursuing a more reciprocal framework for engagement.

Our guest, Scott Kennedy, senior adviser and Trustee Chair in Chinese Business and Economics at the Center for Strategic and International Studies, is a leading expert on China’s economy, industrial policy, and U.S.-China relations. Drawing on his extensive research on Beijing’s economic strategy and approach to global governance, Scott breaks down what the summit accomplished and what the agreements mean for the broader trajectory of the relationship.

We discuss tariffs and trade, rare earths and critical mineral supply chains, competition over advanced technologies, and the prospects for cooperation on artificial intelligence. We also explore how Taiwan and ongoing global conflicts shape U.S.-China diplomacy, what both leaders hoped to gain from the meeting, and how to distinguish meaningful progress from diplomatic theater.