The Trump–Xi meeting, scheduled for Thursday, 30 Oct, is expected to focus on four headline issues, neatly paired for mutual face-saving:
A year’s delay to China’s export controls on rare earth materials
Removal of the 100% tariff threat on Chinese goods
Increased Chinese imports of US soya beans
Relaxation of US export controls and port fees for Chinese ships
If those sound transactional, that's because they are. Both sides want to walk away claiming victory, one on trade, the other on stability.
Beyond trade, things get thornier. Ukraine still looms large. Mr Trump, eyeing the Nobel Peace Prize, seeks China's support, nudging Russia toward a ceasefire. Beijing has, however, made clear that it does not back the latest US sanctions on Russian oil firms.
Taiwan and Hong Kong may also feature, briefly. Washington continues to arm Taipei without formally recognizing it, while China remains prickly over Jimmy Lai, the imprisoned Hong Kong media tycoon. Expect polite disagreement and little else.
A maturing market?
None of this touches cryptocurrencies directly, yet digital assets now move to the rhythm of diplomacy. That sensitivity says as much about investor psychology as about policy risk.
The fact that crypto now reacts to trade frameworks and export controls, not influencer memes, may be a sign of evolution. For all the chaos, this is a market starting to behave like every other: rational, anxious, and permanently wired into geopolitics.
