Trump\u2019s visit to China and his meetings with Xi Jinping on May 14 and 15 captured the attention of media outlets around the world.
Trump announced the potential for major deals and agreements, and brought along top executives from the largest U.S. companies.
The major topics of the meeting included the trade war, competition in artificial intelligence, the Iran conflict, and Taiwan.<\/p>\n\n\n\n
The first point to highlight is that the meeting underscores what a segment of the global left denies: the Trump-Xi Jinping summit is a meeting between the world\u2019s two leading imperialist powers. And this is far more significant than Trump\u2019s last visit, during his first term, in 2017. The weight of Chinese imperialism, now present across nearly the entire world, cannot be ignored or underestimated, lest one fail to understand reality on the global scale.<\/p>\n\n\n\n
There is a section of the left that not only ignores China\u2019s imperialist character but actually supports it, in the name of \u201cmultilateralism\u201d and the \u201cGlobal South.\u201d In reality, they support a bourgeois dictatorship that overexploits the Chinese proletariat to sell its products at the lowest prices in the world.<\/p>\n\n\n\n
There is another part of the left that does not support imperialist China, but denies its imperialist nature. Or it says that China is \u201calmost imperialist.\u201d This kind of approach simply fails to explain the current world, marked by this inter-imperialist dispute. Moreover, if it is \u201calmost imperialist,\u201d then it is not yet imperialist. In that case, we would have to support China against U.S. imperialism. This, in our view, undermines the need for class independence.<\/p>\n\n\n\n
Some, not knowing what to say about the summit, claim that the mere existence of the meeting proves that the rivalry does not exist or is minimal. This is a denial of reality that borders on flat-earth denialism. The meeting is being held precisely because of the enormous disputes that exist.<\/p>\n\n\n\n
The second fact is that the severe crisis of the imperialist world order, exacerbated by Trump\u2019s second term, has almost completely relegated to the background the institutions that used to be its center, such as the UN, the IMF, the World Bank, and NATO. Now, what matters is the weight and actions of the major imperialist governments, which decide how global reality is defined through actions such as the U.S. invasion of Venezuela and aggression against Iran, as well as Russia\u2019s invasion of Ukraine. In this sense, the significance of meetings like this one between Trump and Xi Jinping take on a different quality.<\/p>\n\n\n\n
After all, the leaders of the world\u2019s two greatest imperialist powers, in open competition, met. The results of the meeting between Trump and Xi Jinping, however, did not point to progress on any of the fundamental points of disagreement. Minor items were announced, such as China\u2019s purchase of 200 Boeing aircraft (500 had been expected). Boeing\u2019s own stock fell as a result of the meeting.
As a sign of the effects of this frustration, oil prices rose again and stocks on the New York Stock Exchange fell.<\/p>\n\n\n\n
In reality, there was little chance that this meeting could actually change anything. Some of the ongoing inter-imperialist disputes, such as the battle over AI and the arms race, cannot, at this point, be resolved with a single meeting.
In other words, Trump could not impose anything. He arrived at this meeting weakened by the failure of his \u201ctariff war\u201d against China, which was halted by last October\u2019s agreement following China\u2019s blockade of rare earth exports. And regarding the situation of the war in Iran, which still isn’t over, Trump may suffer a new and more significant defeat.<\/p>\n\n\n\n
This reality prevented Trump from claiming any real victory in the negotiations with Xi Jinping. China, on the other hand, maintains its upward economic trajectory, continuing the confrontation on the ground where it holds the advantage. It observed the war in Iran, just as it did the invasion of Venezuela, without effectively defending its allies, as it currently lacks the capacity to confront the United States militarily. Apparently, it only aided the Iranian attacks through its satellite network. But China is capitalizing on Trump\u2019s bruises from the Iran war.
Despite diplomatic statements from both sides, the summit made no progress on any major issue.<\/p>\n\n\n\n
U.S. imperialism remains hegemonic in economic, financial, technological, and military terms worldwide. But it faces a sharp decline.
China assumed an imperialist character in the 21st century. But it displays greater dynamism, surpassing other imperialist countries and approaching the U.S. level. Capitalizing on its continental scale, the dictatorship that allows it to impose low wages and constant repression on the Chinese proletariat, and an investment rate far higher than that of other imperialist countries, China is increasingly competing with the United States.<\/p>\n\n\n\n
Since 2010, Chinese imperialism has surpassed the United States in industrial production. During the first half of 2025, China\u2019s foreign direct investment surpassed that of the U.S., accounting for nearly 10% of the global total. The Belt and Road Initiative (BRI) mobilizes more than a trillion dollars in financing, taking on the construction and control of ports, railways, mines, and logistics networks in dozens of countries.
Inter-imperialist competition, at the current stage of imperialism, manifests itself in the struggle for control of international value chains. These chains are characterized by the international division of production, with technological and financial control centralized at the headquarters of imperialist multinationals, and production taking place in various countries with cheap labor and supplies of raw materials.
China is making significant strides in this struggle for control of international value chains. For example, it is not only at the forefront of electric vehicle production worldwide, but also controls most of the production of lithium batteries and between 60% and 70% of global lithium refining. It controls between 80% and 90% of rare earth production and refining. It dominates more than 60% of the global solar panel market and controls between 35% and 40% of essential 5G patents.<\/p>\n\n\n\n
Following World War II and, in particular, during globalization, U.S. imperialism imposed so-called \u201cfree trade.\u201d That is, the freedom for its companies to occupy and dominate markets around the world. Now, the more dynamic Chinese imperialism uses \u201cfree trade\u201d to sell its products more cheaply and advance globally.<\/p>\n\n\n\n
Trump\u2019s second term advanced and explicitly articulated what had already been outlined both in his first administration and in Biden\u2019s subsequent one.
In 2022, the Heritage Foundation, a far-right think tank, drafted Project 2025 for the Trump administration. In November 2025, the Trump administration published the document \u201cNational Security Strategy,\u201d which outlines a strategy that shifts from the previous policy of U.S. imperialism.<\/p>\n\n\n\n
In essence, it acknowledges the decline and charts a course to restore U.S. hegemony to the levels of previous decades. We could call this an attempt at a counteroffensive by U.S. imperialism in the face of the rise of Chinese imperialism.
On the economic front, several areas are highlighted: the dispute with China over hegemony in Artificial Intelligence; the battle for value chains (which would manifest itself from that point onward, particularly in oil and rare earths); the reindustrialization of the United States; maritime control of the Pacific Ocean; and the tariff war.<\/p>\n\n\n\n
On the political-ideological front, their whole project is to divide the working class, with anti-immigrant ideology and hostility toward oppressed sectors on one side, and against \u201cnarco-terrorism\u201d on the other. They thus seek to attract the white citizen proletariat and pit it against immigrant workers. Separating a segment of the proletariat from the poorest and Black people in semi-colonial countries, who are portrayed as \u201cthugs.\u201d<\/p>\n\n\n\n
Along with this comes direct repression carried out by far-right puppet governments such as Milei (Argentina), Kast (Chile), Bukele (El Salvador), Paz (Bolivia), and others.<\/p>\n\n\n\n
On the military front, the implementation of Trump\u2019s version of the Monroe Doctrine, dubbed \u201cDonroe,\u201d with the imposition of puppet governments in Latin America. This is what justifies the invasion of Venezuela and the kidnapping of Maduro to seize Venezuelan oil. In the Middle East, the alliance with Netanyahu for the war against Iran. And now the blockade of Cuba.<\/p>\n\n\n\n
In essence, U.S. imperialism, to confront the rise of Chinese imperialism, has decided to impose its military superiority. Trump\u2019s aggressiveness is a brutal expression of the decline of U.S. imperialism in its struggle to restore its hegemony to previous levels, now using other methods\u2014directly Bonapartist ones.<\/p>\n\n\n\n
Let\u2019s look at some of the key aspects of this inter-imperialist battle between the U.S. and China.<\/p>\n\n\n\n
The United States remains hegemonic in technological terms, thanks to the companies known as the \u201cMagnificent Seven\u201d and the massive investment in Artificial Intelligence. Investments in data centers and the development of artificial intelligence continue to fuel the investment boom in the U.S. economy to this day, playing a decisive role in the inter-imperialist struggle across all fronts, particularly on the economic and military levels.<\/p>\n\n\n\n
But it is a fact that Chinese imperialism has invested heavily to catch up, including in chip manufacturing and advanced lithography. It has distinctive features, such as highly advanced AI models (Deepseek) with development and operating costs lower than those of its U.S. rivals and a massive application of AI in the daily lives of the Chinese people, expanding its database.<\/p>\n\n\n\n
Recently, the Chinese have unveiled two major advances. Deepseek unveiled a new version, now using Huawei chips, aiming to reduce its reliance on advanced chips from the U.S.-based NVIDIA. And another, even more spectacular development: apparently, by the end of 2025, they made progress in building an extreme ultraviolet machine, opening the possibility that China could move toward self-sufficient production of advanced 2-3 nanometer chips.<\/p>\n\n\n\n
Meanwhile, in the U.S., Anthropic (one of the major AI companies) unveiled Mythos, a breakthrough capable of analyzing and detecting flaws in operating systems worldwide in a manner previously unknown. This poses a very serious threat that could shake financial, governmental, and military systems. It could facilitate cyberattacks and paralyze foreign defense systems.<\/p>\n\n\n\n
Clearly, this open technological war, with enormous economic, political, and military implications, cannot be resolved at a single summit meeting.<\/p>\n\n\n\n
Not even the possibility of NVIDIA exporting its most advanced chips to China was resolved. It is worth recalling that Trump had previously banned such exports. Ultimately, he was persuaded to authorize them due to the threat\u2014highlighted by NVIDIA itself\u2014that maintaining the ban would only encourage China to advance its self-sufficiency in the production of advanced chips. However, even after the export was authorized, nothing materialized due to restrictions imposed by China itself. Jensen Huang, CEO of NVIDIA, was part of Trump\u2019s delegation during the visit to China. But he returned without anything having been resolved.<\/p>\n\n\n\n
The tariff war, launched in April of last year by Trump, was primarily aimed at reversing the U.S. trade deficit, particularly with China. Tariffs were raised for most countries, but especially for China, reaching 145%. However, it is a fact that it did not achieve the expected result.
The U.S. trade balance recorded a smaller deficit of $700.485 billion (35.6%) in the twelve months following the start of the war (April 2025). The deficit with China also decreased to $202 billion, nearly 30% less than in 2025.<\/p>\n\n\n\n
Tthis did not represent a qualitative change in the United States\u2019 reindustrialization goal. Nor did it affect Chinese exports, which sought out other markets and surpassed a historic record in 2025 of $1 trillion (one billion dollars).<\/p>\n\n\n\n
Ultimately, faced with China\u2019s tough retaliatory stance\u2014including similar tariffs imposed on U.S. exports and, in particular, a ban on the export of rare earth metals (over which it holds hegemonic control)\u2014Trump backed down. At the meeting last October between him and Xi Jinping in Korea, a temporary agreement was reached to suspend the tariff war. This agreement extends until October of this year, and it was expected to be renewed at this current summit. Not even that was decided.<\/p>\n\n\n\n
More than a month after the ceasefire in the Iran war, there is still no clear prospect for an agreement. The proposals under discussion, from both U.S. imperialism and Iran, remain very different, and skirmishes in the Strait of Hormuz continue. Thus, all possibilities are on the table for the region\u2019s future.<\/p>\n\n\n\n
However, as we stated in another article on the subject:
\u201cThe main conclusion is that the U.S.-Israeli plan for a crushing and rapid victory in the style of Venezuela has failed. Iran\u2019s strategy of asymmetric warfare\u2014involving missile and drone attacks against countries hosting U.S. and Israeli bases, and above all, the selective blockade of the Strait of Hormuz\u2014has proven successful by creating a stalemate due to the escalating international energy crisis, with significant economic and political repercussions worldwide and within the United States as well.\u201d<\/p>\n\n\n\n
This is fueling a global economic and political crisis, with significant repercussions within the United States. The war has already broken out, without majority support within the country. The continued blockade of the Strait of Hormuz is reflected in a more than 50% increase in gasoline prices in the U.S. and is exacerbating the political crisis. The division within the U.S. bourgeoisie is deepening, with one sector profiting even more from the war (the technology and oil sectors) and another accumulating losses. And the erosion of Trump and the Republican Party is widening, posing a significant threat to the midterm elections at the end of the year.<\/p>\n\n\n\n
Given that neither the Iranian regime has been overthrown, nor its nuclear program blocked, nor the Strait of Hormuz reopened, signs are mounting that Trump could face defeat in the war.<\/p>\n\n\n\n
Expectations that the summit between Trump and Xi Jinping would make progress in resolving the conflict were not met. Trump boasted of agreements on the issue, saying that Xi Jinping wanted the Strait of Hormuz reopened and is against Iran having nuclear weapons\u2014positions already known of Chinese imperialism. But nothing concrete was defined for the resolution of the conflict. In reality, Xi Jinping said that \u201cthis war should never have started,\u201d because he continues to capitalize on Trump\u2019s weariness on the issue.<\/p>\n\n\n\n
We do not wish to elaborate on this issue here, but only to note its development at the summit.
Chinese imperialism considers Taiwan part of its territory and constantly threatens to invade and conquer the territory. This is a directly imperialist stance, mistakenly supported by a significant portion of the global left.<\/p>\n\n\n\n
U.S. imperialism supports Taiwan\u2019s reactionary bourgeois government and threatens to respond militarily in the event of a Chinese invasion, though it does not formally support a declaration of independence for the island, so as not to confront China directly at this time.
Xi Jinping explicitly told Trump that \u201cthe Taiwan issue is the most important one in our relations. If handled well, relations between the two countries can remain generally stable. If handled poorly, the two countries will clash, or even go to war.\u201d<\/p>\n\n\n\n
Nor were there any real changes in the positions of China and the U.S. on the issue at the current summit. But Trump made it clear publicly, after returning to the United States, that he opposes a declaration of independence by Taiwan. \u201cI don\u2019t want anyone to declare independence, you know, assuming we have to travel 15,000 kilometers to go to war.\u201d Nor did he authorize the shipment of $14 billion in U.S. arms to Taiwan, which remains pending.<\/p>\n\n\n\n
Evidently, the repercussions of this summit of the leaders of the major imperialist powers will become apparent in the coming period.
Furthermore, given that it is linked to turbulent and open-ended processes such as the ongoing crisis of the world order, the outcome of the war in Iran, and the economic and technological dispute, no definitive conclusions can be drawn.<\/p>\n\n\n\n
However, as can be inferred from the points listed above, the following can be stated as preliminary conclusions:<\/p>\n\n\n\n