United States (US) President Donald Trump will meet Chinese President Xi Jinping in Beijing this week for talks that could shape the next phase of the world’s most important strategic rivalry.

The meeting is expected to cover Iran, Taiwan, trade, artificial intelligence (AI), agriculture, rare earth minerals, and the role of major US companies in China. Trump is arriving with a business delegation that reportedly includes Elon Musk, Tim Cook from Apple, Boeing CEO Kelly Ortberg, and executives from firms including Nvidia, BlackRock, Cargill, Goldman Sachs, Meta, Micron, Qualcomm, and Visa.

The most immediate issue is likely to be Iran. Trump is likely to press Beijing to lean on Tehran to accept America’s nuclear weapons terms, which have become the key obstacle to a peace deal. China is a major buyer of Iranian oil and retains influence with Tehran, giving Xi leverage Washington does not have.

Trump has said he does not need China’s help to end the war, but the reality of the hold Beijing likely exercises over Tehran points in the other direction. If China can persuade Iran to accept limits on its nuclear programme and loosen its grip on the Strait of Hormuz, it could help unlock the deal Washington has so far been unable to secure.

Trade will also be central. The US and China are expected to discuss agriculture purchases, investment access, rare earths, nuclear arms, AI, and Taiwan. Trump is likely to press China to buy more US farm products, including soybeans, meat, and grains, a politically important demand ahead of America’s midterm election cycle.

The setting itself is symbolic. The summit is expected to take place at Beijing’s Temple of Heaven, historically associated with prayers for a good harvest. That gives Trump a stage to push agricultural exports, while giving Xi a setting designed to project Chinese civilisation, continuity, and confidence.

Taiwan may be the most sensitive issue. Trump’s plan to discuss Taiwan arms sales with Xi has reportedly rattled Asian allies, because it raises fears that US security commitments could become part of a broader bargain with Beijing. China is expected to push Washington to limit arms sales or shift its language on Taiwanese independence.

AI is also likely to feature heavily. The presence of major technology executives points to the importance of chips, data centres, export controls, AI infrastructure, and access to the Chinese market. The US wants to limit China’s access to advanced technologies with military applications, while American companies still want commercial access to the world’s second-largest economy.

Rare earths are another likely pressure point. Trump aides are reportedly confident a rare earths truce remains in effect, but the issue remains central because China dominates key parts of the rare earths supply chain. That gives Beijing leverage over industries tied to defence, electric vehicles, electronics, and green technologies.

For Xi, the talks are an opportunity to stabilise relations while extracting concessions on Taiwan, investment access, and technology restrictions. For Trump, the meeting offers a chance to claim progress on trade, farm exports, Iran, and business access.

The Beijing meeting is therefore ultimately a test of whether Trump can convert personal diplomacy into American advantage, or whether Xi can use pageantry, business pressure, and the Iran crisis to shape the terms of the relationship in China’s favour.