US President Donald Trump and Chinese President Xi Jinping met for a high-stakes summit at Beijing’s Great Hall of the People on Thursday, as both nations navigate a complex web of trade, technology, Iran, and Taiwan-related tensions.

The meeting comes amid a backdrop of growing rivalry between Washington and Beijing, even as leaders seek common ground on global security, economic stability, and shipping access through the Strait of Hormuz.

Trump, arriving in a motorcade to the ceremonial steps, was greeted by Xi and a US delegation that included Secretary of State Marco Rubio, Secretary of War Pete Hegseth, and business leaders such as Elon Musk.

The two leaders shook hands before entering the hall for talks.

“It’s an honour to be with you. It’s an honour to be your friend, and the relationship between China and the USA is going to be better than ever before,” Trump said during the meeting, adding that the two nations would have a “fantastic future together.”

The summit marks a rare moment of direct dialogue between the two superpowers, with both sides under pressure to balance rivalry with cooperation on issues that have far-reaching implications for the global economy and geopolitical stability.