The Trump-Xi summit was a joust among equals. But China played more equal than the US. It was also a management class on how to maintain a low-level détente while both sides reduce vulnerabilities and gather leverage against each other.
Modest progress was made on trade issues, which helps Trump with the midterms and makes Xi look reasonable. The two agreed to reduce tariffs on $30 bn worth of goods, extend a trade truce by two months, set up a channel on AI safety issues, address rare earth supply chain issues and establish a Board of Investment. China will buy 10 mn tonnes of coal. The leaders also discussed Ukraine, Iran and Russia, but to what end is unclear.
