Amid the apparent absence of a concrete deal being reached with Washington on one of Beijing’s long-standing points of trade contention – export controls on the most advanced semiconductors – analysts say it reflects China’s increasing resolve to become more independent from the US.
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After a meeting with President Xi Jinping in South Korea on Thursday morning, US President Donald Trump said the two sides “did discuss chips”.
“China is going to be talking to Nvidia and others about taking chips … and I’ll be speaking to Jensen [Huang] from Nvidia,” Trump told reporters aboard Air Force One, referring to the world’s top chip designer and its CEO.
“I said that’s really between [China] and Nvidia, but we are sort of the arbitrator or the referee,” Trump added.
His comments came as the two sides announced progress on other issues, including tariff reductions and pauses; rare earth export controls; agricultural purchases; and suspensions of port fees.
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However, experts caution that these concessions should not be mistaken for fundamental shifts in the strategic rivalry between Washington and Beijing. Instead, they represent tactical moves by both sides to buy time and manage vulnerabilities, according to Junyu Tan, a regional economist for North Asia with credit insurance company Coface.