U.S.-China Summit: ‘G2’ Alone Cannot Achieve Global Stability

Editorial

17:33 JST, May 16, 2026

U.S. President Donald Trump concluded a two-day summit with his Chinese counterpart Xi Jinping. He called the U.S.-China relationship the “G2.”

This is a term that countries such as Japan are wary of, fearing that the United States and China might decide important matters on their own.

While the United States and China will likely focus on building a stable relationship for the time being, it is important for Japan to analyze the results of the summit and consider what role it should play to ensure global stability.

Trump visited China this time, accompanied by people including the heads of prominent U.S. companies such as Apple and Nvidia. China reportedly pledged to purchase American items such as soybeans and crude oil, as well as Boeing aircraft.

The two countries are also expected to launch a committee in the future to discuss expanding trade and promoting investment. Ahead of the November midterm elections, Trump has effectively put together “deals” that are likely to appeal to voters.

Trump stressed that his visit to China was successful, but to put it another way, it appears to have become evident that his high-tariff policy — a signature policy of the second Trump administration — has reached an impasse.

Trump has viewed the U.S. trade deficit with China with hostility. He has boasted that his high-tariff policy would bring jobs back to the United States and revive the manufacturing sector.

However, after China threatened to restrict exports of rare earths, which are essential for producing high-tech products, Trump was forced to suspend the trade war. There is still no solution in sight for the structural issue of China exporting products that are produced in excess through unfair government subsidies.

The United States and China are also engaged in increasingly fierce battles such as over artificial intelligence and export controls on advanced semiconductors. From the perspective of economic security, tensions will inevitably continue.

Under these circumstances, Trump likely will need to seek ways to build a mutually beneficial relationship with China.

China, for its part, is facing serious deflationary pressures due to a prolonged real estate slump and sluggish domestic demand. Stabilizing relations with the United States is an urgent priority.

According to a statement from the Chinese government, the two leaders agreed at the summit to build a “constructive China-U.S. relationship of strategic stability.” This wording is seen as strongly reflecting Beijing’s intentions.

China has been competing with the United States for hegemony not only in the economic sphere but across all fields, including the military and science and technology. As its confidence as a major power grows, China is likely attempting to manage its relationship with the United States by putting forward a new slogan.

The United States and China should continue to communicate with each other carefully to avoid causing turmoil in the global economy.

(From The Yomiuri Shimbun, May 16, 2026)