Big Business Bows Down in Beijing
Top U.S. business leaders including Tim Cook, Elon Musk, and Jensen Huang accompanied President Donald Trump on his 2026 trip to Beijing, highlighting the deep economic ties between American corporations and China. Despite ongoing trade imbalances and U.S. concerns over technology transfers, American companies continue to rely heavily on Chinese manufacturing and markets. The visit underscored the complex relationship between U.S. foreign policy and corporate interests in the face of a growing bilateral trade deficit.
- ▪Apple CEO Tim Cook joined President Trump’s trip to China, where an estimated 80 percent of iPhones are still manufactured.
- ▪Boeing, Meta, Mastercard, and Nvidia executives also attended, reflecting corporate interests in aviation, technology, payments, and AI sectors.
- ▪The U.S. imported $39.2 billion in cell phones and household goods from China in 2025, contributing to a 10-year trade deficit of $2.906 trillion.
- ▪China blocked Meta’s acquisition of AI startup Manus over concerns about advanced technology transfers.
- ▪Mastercard announced a collaboration with Bank of Shanghai to enable seamless cross-border payment flows between China and global markets.
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Home – China News – Big Business Bows Down in Beijing opinion Big Business Bows Down in Beijing Terence Jeffrey • May 16, 2026 Print Secretary of Defense Pete Hegseth (bottom center), Treasury Secretary Scott Bessent (center right), Nvidia founder and CEO Jensen Huang (right), Tesla and SpaceX CEO Elon Musk (center right, middle row) and Apple CEO Tim Cook (center left, middle row) attend a welcome ceremony for President Donald Trump at the Great Hall of the People in Beijing on May 14, 2026.
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