Trump, Xi begin summit talks over trade, Iran, Taiwan, other key issues

Beijing, May 14 US President Donald Trump and Chinese President Xi Jinping held summit talks in Beijing on Thursday, with trade, the US-Israeli war on Iran, Taiwan and technological competition likely to top the agenda.

Prior to their meeting at the imposing Great Hall of the People, Trump received a ceremonial welcome marked by a handshake between the two leaders, the performance of national anthems by a military band, an inspection of the honour guard and greetings by young children waving flowers and US and Chinese flags, reports Yonhap news agency.

"It's an honour to be with you. It's an honour to be your friend, and the relationship between China and the USA is going to be better than ever before," Trump said in his opening remarks during the summit.

Trump arrived in the Chinese capital on Wednesday evening for a three-day visit, marking his first trip to China since November 2017. His trip came amid an impasse in peace talks between the United States and Iran on ending the Middle East war and reopening the crucial Strait of Hormuz.

The two leaders last met in person in Busan, South Korea, on the margins of the Asia-Pacific Economic Cooperation summit, where they reached a one-year trade truce aimed at lowering existing tariffs and suspending further trade restrictions, such as China's curbs on rare earth elements.

Ahead of his trip to China, Trump underscored his focus on trade as a key agenda item as he seeks to secure more tangible economic achievements that would likely affect voter sentiment ahead of the US midterm elections slated for November.

In particular, Trump is expected to seek China's commitments to bolster its purchases of US farm products, such as soybeans and beef, as well as Boeing aircraft and related components.

The Middle East conflict is likely to figure prominently at the summit, as Trump seeks an exit from the months-old war with Iran and seeks to secure the reopening of the Strait of Hormuz, a vital shipping lane for oil, fertiliser and other key commodities.

China itself has been apprehensive about the ongoing war, as disruptions to shipping in the Strait of Hormuz could imperil its energy supplies. China has sought to shift to alternative energy sources and maintains large oil stockpiles, but the conflict has raised longer-term economic risks for the world's second-largest economy.

Other issues on the agenda are expected to include the security of Taiwan, the self-governing democracy that China regards as part of its territory, as well as the two countries' technological competition, particularly in the realm of artificial intelligence.

Some observers said that Trump and Xi could touch on North Korea as the American president has repeatedly expressed his desire to resume diplomacy with North Korean leader Kim Jong-un, with China maintaining its influence over Pyongyang through steady diplomatic and economic exchanges.

After the summit, the leaders are expected to visit the Temple of Heaven park, an imperial complex, and attend a state banquet.

On Friday, they will have tea and a working luncheon before Trump heads back home.

This week's summit is the first in a series of possible bilateral talks between Trump and Xi this year, including meetings on the margins of the Asia-Pacific Economic Cooperation summit in Shenzhen, China, in November and the Group of 20 gathering in Florida in December.

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