US CEOs Accompany Trump to China: Who's Going and Why?

More than a dozen top US business leaders have accompanied President Donald Trump on a state visit to China, where he discussed trade, technology, and artificial intelligence issues with President Xi Jinping.

Arriving in Beijing on Wednesday, Trump introduced the business delegation to President Xi, calling them 'outstanding representatives from the US business community' who 'respect and value China.' The CEOs told Xi they 'appreciate the Chinese market' and hope to do more business there. China's president responded with a welcome for 'mutually beneficial cooperation' and pledged that US companies 'will have broader prospects in China.'

The visit comes amid a prolonged trade war between the two nations, after Trump's sweeping tariffs last year triggered retaliatory duties exceeding 100%. The two leaders are expected to discuss renewing a one-year tariff ceasefire and China's rare earth exports, agreements reached at their October meeting in South Korea.

As the US president was welcomed with flowers and flags on a red carpet, the CEOs walked behind him, a powerful reminder of the business deals he hopes to strike between the world's two largest economies.

Who is in Trump's delegation?

The delegation largely consists of US executives seeking to resolve issues with Beijing. Elon Musk of SpaceX and Tesla, Tim Cook of Apple, and David Solomon of Goldman Sachs are among the top business leaders accompanying Trump.

Musk, who also owns social media platform X, traveled to China on Air Force One with Trump despite past tensions with the president last year. The billionaire previously led the Government Efficiency Department under Trump until leaving in early 2025, before the temporary agency shut down in November.

Other prominent names include BlackRock Chairman and CEO Larry Fink, Citi Chairman and CEO Jane Fraser, Blackstone CEO and co-founder Stephen Schwarzman, and Boeing Chairman and CEO Kelly Ortberg. Jensen Huang of Nvidia was a last-minute surprise addition, boarding the plane at a stop in Alaska. Other businesses on the trip include Meta, Cargill, Visa, Cisco, Qualcomm, Coherent, Micron, GE Aerospace, Illumina, and Mastercard.

Why are the CEOs joining Trump's China visit?

The CEOs gave brief remarks to the press after the formal welcome ceremony for the US president at the Great Hall of the People in Beijing. Musk said he wanted to achieve 'a lot of good things' in China, while Nvidia's Huang described the meeting with Chinese officials as 'excellent.'

Many CEOs have strong stakes in better relations with China. Major US tech companies rely heavily on China for imports, exports, and manufacturing bases. China, the world's second-largest economy, also controls the majority of global rare earth mining and processing, critical materials for everything from smartphones to fighter jets.

In April last year, China restricted exports of 7 of 12 specific rare earth types and later announced it would further restrict 5 more. The second round of restrictions was paused under a ceasefire agreement with Trump in October.

Musk traveled to China hoping to purchase $2.9 billion worth of equipment to produce solar panels from a Chinese supplier. This would be more difficult if China restricts exports of its most advanced technology to the US. China is also a key market for Tesla's electric vehicle lineup, and he is seeking regulatory approval to expand Tesla's self-driving assistance system. In 2018, Tesla became the first foreign automaker allowed to assemble cars in China without a local partner.

Tesla produces large numbers of vehicles annually at its Shanghai factory, its largest global export hub. In the first four months of 2026, the Shanghai factory reported total sales of 292,876 vehicles, a 26.7% increase year-over-year.

Apple, led by soon-to-retire CEO Tim Cook, depends heavily on foreign manufacturing for iPhones. Apple sells over 60 million iPhones in the US each year, with about 80% made in China. Last year, Trump imposed tariffs on the device and pressured Apple to move production to the US, but Cook mitigated fees by shifting iPhone production for the US market to India and pledging another $100 billion investment in the US.

Nvidia's Huang traveled to Beijing hoping to unblock efforts to sell H200 chips in China. Before the US imposed export restrictions for security reasons earlier this year, Nvidia controlled about 95% of China's advanced chip market. Huang estimates China's AI market is worth $50 billion this year. In January, the Trump administration allowed H200 AI chip exports to China but imposed new security requirements, forcing Nvidia to ensure adequate supply in the US and undergo third-party reviews before exporting.

Aircraft manufacturer Boeing is also seeking business opportunities with China amid talks on a major aircraft deal. Bloomberg reported China is considering buying about 500 737 Max jets along with roughly 100 wide-body 787 Dreamliners and 777X jets. CEO Ortberg expressed confidence that a deal between Trump and Xi would 'include some aircraft orders.'

What does Trump hope to gain by bringing CEOs to China?

The US president is pushing for commitments from China to open its economy to US companies, as he seeks to score points with Silicon Valley amid widespread criticism over the US-Israel conflict in Iran, which has worsened economic conditions and driven up prices in the US. He also hopes to shore up support ahead of the crucial November midterm elections.

Independent China strategist Andrew Leung said the presence of top US CEOs 'signals what Trump needs to bring back: commitments of market access and investment to present to voters, as midterm elections approach and his approval ratings are under pressure.' 'In return, China will press for easing or lifting tariffs, removing sanctions on Chinese entities, greater access to advanced semiconductors, and opening the US market to Chinese investment. If this includes moving some EV manufacturing to the US, it could create jobs and economic activity there,' Leung said.