What Trump’s Meeting with Xi Jinping Could Cost Americans
This week, Donald Trump is preparing to depart for a high-profile meeting with Chinese leader Xi Jinping in South Korea. Central to these talks are Trump’s tariffs, which he claimed would force Beijing to the negotiating table and revitalize the American economy. In reality, China has stood its ground – and the costs of Trump’s tariffs have landed squarely on the American people.
Now, with a sluggish economy and an anxious electorate, Trump is seeking an off-ramp – one that would allow him to declare victory without actually delivering for America. As the summit approaches, critical questions loom over Trump’s strategy and what it means for Americans:
How desperate was Trump to secure this meeting? Trump’s obsession with striking a deal has sidelined broader U.S. efforts to compete with Beijing economically, technologically, and militarily. Trump is actually the first president in decades to loosen restrictions on exporting America’s most advanced technologies – selling out one of our greatest advantages: our technological edge. At the same time, the Trump Administration has scaled back security cooperation and diplomatic outreach across the Indo-Pacific, signaling a willingness to accommodate Chinese demands rather than counter them with partners and allies. More recently, China exploited Trump’s desperation further by severely restricting the export of rare earth minerals to the United States – ratcheting up tensions and strengthening their negotiating position ahead of the meeting in South Korea. Following Beijing’s broadside, Trump sought to lower tensions by insisting that the U.S. "wants to help China, not hurt it." These conciliatory gestures raise troubling questions about what else he may be willing to give up in pursuit of a headline-making but weak agreement.
What empty promises will Trump tout coming out of this meeting? Trump has a long-established pattern of declaring sweeping victories after foreign summits, regardless of the true outcome of these talks. We can expect more of the same in South Korea. China routinely offers symbolic concessions to allow Trump to proclaim victory while delivering nothing of substance for the American people. The 2020 “deal” that ended his first trade war is one such example. This time, will it be minor agricultural purchases – too late to rescue struggling farmers – or vague promises of investment that never materialize? If Trump chases these short-term optics over structural reforms, the U.S. risks striking a lopsided deal that doesn’t address larger structural issues or China’s malign conduct.
Why has the self-proclaimed “master dealmaker” been unable to strike a deal? Despite his tough talk and promise to secure a “better deal” for the American people, Trump has failed to secure any major victories for the American people, alter Beijing’s conduct, or address the fundamental issues he’s identified in America’s trade imbalance. His tariffs were meant to pressure China into making a deal, but instead, it’s Americans who have felt the squeeze. The result is a trade war that inflicted real economic pain at home while failing to change Beijing’s behavior – another example of Trump being outmaneuvered on the world stage and the American people paying the price.
How much more economic pain can the American people bear? Trump’s repeated tariff hikes on Chinese goods – which he claimed would be paid by Beijing – ended up functioning as a hidden tax on American families. Multiple studies have shown that tariffs have been borne almost entirely by U.S. consumers and companies, driving up the cost of everyday goods and costing the average American household as much as $3,800 per year. Manufacturers that rely on imported components face higher input costs and shrinking margins, and farmers are seeing plummeting sales as China redirects soybean and other agricultural purchases to Brazil and elsewhere. After nearly a year in office, Trump has nothing to show for his efforts – except for a struggling economy and a population desperate for relief.
What’s really driving Trump’s China policy? Trump’s approach seems driven less by national interest and more by personal gain and the enrichment of his allies. His TikTok deal, for instance, does nothing to meaningfully address the platform’s security concerns while generating billions for his Silicon Valley allies and shoring up Republican influence over the platform. Meanwhile, plans to ban the export of advanced American-made AI chips to China were shelved after an intense lobbying campaign by Nvidia’s CEO, who paid $1 million to attend a dinner with Trump. By allowing the sale of Nvidia’s H20 chips, Trump accelerated Beijing’s progress in the AI race. In return, he secured a 15 percent cut of the revenue generated from those sales and boosted Nvidia's stock – directly benefiting himself, friends, and cabinet members with significant stakes in the company.
Why isn’t Trump focused on what Americans really care about? According to recent polling, Americans’ top priority in U.S.-China relations is “protecting the U.S. from China’s spying, cyber attacks, and IP theft.” Yet under Trump, China’s hacking and intellectual property theft have continued largely unabated. Major breaches of U.S. technology firms and government agencies have persisted, and China-linked cyberattacks on critical infrastructure continue to pose major threats. Trump’s unwillingness to take decisive action to stop these actions has left Americans vulnerable to the very security risks they say matter most.
Polling:
National Security Action’s polling has found that Trump’s handling of U.S.-China relations is 13 points underwater, with more U.S. voters disapproving (51 percent) than approving (38 percent).
Opinions about China are largely framed in economic terms, with many acknowledging the country’s central role in producing goods consumed in the U.S. Key voter concerns center on trade, technology, and the importance of both countries adhering to fair rules. When ranking the most important goals for U.S.-China relations, voters chose protecting the U.S. from China’s spying, cyber attacks, and IP theft; avoiding war; and preventing fentanyl from entering the U.S.
Talking Points:
Despite claiming to be a master negotiator, Trump’s tariffs have failed to extract meaningful concessions from Beijing – and his “dealmaking” has left America footing the bill. This is yet another example of Trump talking tough but not delivering.
Tariffs function as a hidden tax, raising costs for Americans. Now, thanks to Trump, families’ budgets are stretched thin, businesses are struggling to keep the lights on, and our economy has slowed to a halt.
Facing pressure for his failed trade strategy, Trump is desperate for an off-ramp – and he’s willing to sell out the American people to do it. Just to get China to the negotiating table, Trump has offered up the farm – giving away real concessions with lasting consequences.
Trump is eager to tout another “historic deal,” but Americans should be wary. China has a long history of offering symbolic concessions while avoiding substantive reform – leaving the U.S. on the wrong side of a lopsided agreement.
Published: October 2025