‘We used to be taken advantage of for years with our previous presidents, and now… we make a lot of money with China’, Trump said
WASHINGTON, DC: President Donald Trump said on Monday, May 11, that the United States is “doing great with China” ahead of his upcoming summit with Chinese President Xi Jinping in Beijing later this week.
The president also confirmed that several leading American business executives, including Tesla CEO Elon Musk and Apple CEO Tim Cook, will join the US delegation during the visit.
The trip comes as Washington and Beijing continue discussions on trade, investment and broader geopolitical issues, including tensions in the Indo-Pacific and the economic impact of the Iran conflict. Trump said he remains confident about his relationship with Xi and the direction of US-China economic ties.
Trump says US-China ties strong ahead of meeting with Xi Jinping
Speaking from the Oval Office, Trump said the United States is benefiting from what he described as a stronger and more balanced economic relationship with China under his administration.
“We’re doing a lot of business, but it’s smart business. We used to be taken advantage of for years with our previous presidents, and now we’re doing great with China,” adding, “we make a lot of money with China.”
The president also spoke positively about his relationship with Xi ahead of the high-profile summit in Beijing. “I respect him a lot, and hopefully he respects me,” Trump said.
Q: “What do you hope to get out the summit in China?”
President Trump: “I have a great relationship with President XI. We’re doing a lot of business, but it’s smart business.” pic.twitter.com/GIMwWesvW5
— CSPAN (@cspan) May 11, 2026
Trump also said he intends to discuss the cases of jailed Hong Kong businessman and pro-democracy publisher Jimmy Lai, along with a detained pastor, during his talks with Xi.
“But Jimmy Lai, he caused lots of turmoil for China. He tried to do the right thing; he wasn’t successful, went to jail, and people would like him out, and I’d like to see him get out too,” Trump said. “So, I’ll bring them up again.”
The Beijing visit was originally expected to take place earlier this year but was delayed as the administration focused on developments in the Middle East. The summit now takes place amid efforts by both countries to stabilize economic ties while addressing ongoing strategic disagreements.
Elon Musk, Tim Cook and Wall Street executives to join US delegation
The White House confirmed that more than a dozen executives from major technology, financial, aerospace and manufacturing firms will travel with Trump to Beijing.
Among those expected to join the delegation are Tesla and SpaceX CEO Elon Musk, Apple CEO Tim Cook, BlackRock CEO Larry Fink, Blackstone CEO Stephen Schwarzman, Goldman Sachs CEO David Solomon, Citigroup CEO Jane Fraser and Boeing CEO Kelly Ortberg.
Other executives participating in the trip include Mastercard President Michael Miebach, Visa CEO Ryan McInerney, Qualcomm CEO Christiano Amon, Micron CEO Sanjay Mehrotra, Meta executive Dina Powell McCormick, GE Aerospace CEO Larry Culp and Cargill CEO Brian Sikes.
The inclusion of high-profile business leaders underscores the administration’s emphasis on commercial ties during the Beijing visit.
Trump similarly brought corporate executives during his trip to Saudi Arabia earlier this year. Several business figures, including Musk, Fink and Schwarzman, also participated in that delegation.
Musk’s participation also signals continued improvement in his relationship with Trump after tensions earlier this year led to a public dispute between the two. The billionaire entrepreneur has since reappeared at White House events tied to SpaceX and other technology initiatives.
