A delegation of top American CEOs, from Tesla’s Elon Musk to Apple’s Tim Cook, is in Beijing with a list of specific demands that could define the next phase of US-China business relations.
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16 US CEOs seek deals in China as market tensions simmer
A high-stakes visit to Beijing by 16 of America’s most powerful business leaders is creating uncertainty in global markets, as investors weigh the potential for breakthroughs on market access against the risk of escalating trade friction. The delegation, including the CEOs of Tesla, Apple, and Goldman Sachs, is accompanying President Donald Trump for a two-day summit starting May 14.
"Besides Boeing and Cargill being linked to purchase agreements, the others are mainly there to deliver demands on critical input supply," Reva Goujon, a geopolitical strategist at Rhodium Group, told Reuters. "China needs to be a reliable investment partner and not weaponise supply."
The visit’s gravity was reflected in pre-market trading, with S&P 500 futures down 0.45% and Nasdaq 100 futures falling 0.97%. The Cboe Volatility Index (VIX), Wall Street’s fear gauge, climbed 2.50% to 18.84, indicating rising investor anxiety.
Unlike President Trump's 2017 visit, which focused on broad trade announcements, this summit is centered on resolving specific, long-standing issues for individual companies. The outcomes could either unlock billions in investment and revenue or expose firms to greater regulatory and supply-chain risks in the world's second-largest economy.
Tech and Finance Chiefs Have Specific Asks
The technology and finance sectors are heavily represented, with CEOs seeking to navigate a complex web of regulations. Tesla CEO Elon Musk is reportedly seeking clearance to roll out his Full Self-Driving software in China and is navigating potential restrictions on the export of solar manufacturing equipment from the country.
Meta, another firm in the delegation, is trying to resolve a Chinese order to unwind its more than $2 billion acquisition of AI startup Manus. For U.S. financial giants, the goals are centered on market access. Citigroup is still awaiting approval for a wholly-owned securities brokerage license, while BlackRock’s planned $23 billion acquisition of ports from a Hong Kong conglomerate faces scrutiny from Beijing.
Payment Giants and Industrials Seek Access
Payment networks Mastercard and Visa are also in attendance, hoping to deepen their footprint in China's tightly controlled market. Mastercard, which in 2023 became the first foreign firm approved to clear domestic yuan transactions through a joint venture, is reportedly hoping to secure a larger stake in that venture. Visa is aiming to secure a license for a 100% owned entity, an unprecedented level of access.
The delegation also includes leaders from industrial and agricultural giants Boeing and Cargill, whose presence suggests potential for large-scale purchase agreements. However, the core of the visit remains focused on resolving the complex market access and regulatory hurdles that have long challenged U.S. firms operating in China.
This article is for informational purposes only and does not constitute investment advice.
[1] White House releases list, 16 US business leaders to accompany Trump on China visit[2] Elon Musk Set to Join U.S. Business Delegation for Trump's China Visit[3] Trump heads to China today for high-stakes meeting with Xi[4] US CEOs seek China business gains from Trump-Xi summit[5] Elon Musk and Apple's Tim Cook will travel to China with US delegation: White House
