Trump And Xi Hold High Stakes Call On Trade And Taiwan

United States President Donald Trump and Chinese President Xi Jinping have once again taken center stage in the ever-shifting landscape of global politics, following a wide-ranging phone conversation on February 4, 2026. The call, which both leaders described in glowing terms, touched on a host of thorny issues: trade, energy, the future of Taiwan, the wars in Ukraine and Iran, and the intricate dance of military posturing between the world’s two largest economies.

According to multiple reports, including those from Xinhua and AFP, this was the first direct conversation between Trump and Xi in more than two months, the last one having taken place on November 24, 2025. The timing was notable: the call came just hours after Xi had spoken with Russian President Vladimir Putin, with both Chinese and Russian leaders vowing to deepen their partnership in what they described as a “turbulent” international environment.

President Trump, never one to shy away from publicizing diplomatic overtures, took to his social media platform Truth Social to share his perspective on the exchange. “I just finished a great phone call with President Xi,” Trump wrote, calling it “a long and detailed call.” He went on to say, “The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way.” Trump also highlighted his anticipation for an April 2026 visit to China, a trip he described as a "business trip" that could yield significant results for both nations.

While Trump’s post painted a rosy picture of bilateral ties, the substance of the conversation reflected the high stakes and persistent tensions that define US-China relations. According to the White House and Chinese state media, the two leaders discussed a wide array of topics: trade imbalances, military cooperation, the ongoing war in Ukraine, Iran’s internal turmoil, China’s appetite for US oil and gas, and even the supply of aircraft engines. The conversation also included a review of additional agricultural purchases by China, a nod to the economic interests that often underpin the diplomatic back-and-forth.

One of the most significant developments, at least from the US perspective, was Trump’s announcement that China had agreed to ramp up its purchase of American soybeans. The numbers are eye-catching: 20 million tonnes this season, up from the previous 12 million, and a further increase to 25 million tonnes next season. Trump celebrated this as a major win for US farmers, stating, “China has decided to increase its purchase of US soybeans to 20 million tons this season, and 25 million tons will be purchased next season.” However, as Xinhua noted, the Chinese government’s official readout made no mention of these agricultural deals, underscoring the sometimes divergent narratives that emerge from Beijing and Washington after high-level talks.

Energy was another key topic. Trump revealed that he had discussed China’s purchase of US oil and gas with Xi. This is a significant development given that China has traditionally sourced much of its energy imports from Russia, Iran, and Venezuela. The conversation suggested that Beijing might be open to replacing some of those imports with American products, a move that could have ripple effects across global energy markets. The context is especially relevant as India, under US pressure, has already decided to halt imports of Russian oil in favor of US and Venezuelan crude, a shift that signals broader realignments in the global energy supply chain.

Yet, for all the talk of trade and energy, the thorniest issue remains Taiwan. Both sides acknowledge it is the central flashpoint in US-China relations. According to the Chinese government’s readout, President Xi was unequivocal: “Xi stressed that the Taiwan question is the most important issue in China–US relations,” adding that “Taiwan is China’s territory. China must safeguard national sovereignty and territorial integrity, and it will never allow Taiwan to be separated from China.” Xi also urged the United States to approach arms sales to Taiwan with “great prudence.”

The United States, for its part, has not shied away from supporting Taiwan’s defense. In December 2025, the US approved an $11 billion arms package for Taiwan—one of the largest ever—aimed at bolstering the island’s defense capabilities. Trump, while acknowledging China’s concerns, maintained a diplomatic tone: “We value China’s concerns about Taiwan,” he said, according to Xinhua. “We hope to maintain communication with China and maintain better and stable US-China relations during my term.”

President Xi, in turn, emphasized the importance of steady leadership and cooperation. “I value China-US relations very much,” he said. “I hope that I will lead a big ship of China-US relations with you in the new year and move forward stably to do more big and good things.” The maritime metaphor—steering a “big ship” together—evokes the sheer scale and complexity of the relationship, where any misstep could have global consequences.

Notably, the Chinese readout of the call, as reported by Xinhua, did not mention Trump’s planned April visit. However, it did confirm that the two leaders have maintained “good communication,” referencing an in-person meeting in Busan, South Korea, on October 30, 2025. That meeting, held on the sidelines of a broader summit, was seen at the time as an effort to put a personal touch on a relationship often strained by geopolitical rivalry.

The broader context of this call cannot be ignored. As the US and China spar over technology, trade, and influence in Asia, both leaders appear eager to project stability—at least for now. Trump’s posturing suggests he sees opportunity in forging economic deals, while Xi is focused on red lines, particularly regarding Taiwan. The war in Ukraine and unrest in Iran add further complexity, with both leaders watching closely how regional conflicts could spill over into their own interests.

For Trump, the stakes are also domestic. With three years left in his term, he is keen to showcase diplomatic wins and economic benefits, especially for American farmers and the energy sector. “I believe we can achieve many positive results with Xi and China during the remaining three years of my term,” Trump said, signaling optimism but also the reality that much work remains.

As for Xi, he is balancing the need to assert China’s sovereignty—especially on the Taiwan issue—with the practicalities of managing a relationship with the United States that is both indispensable and fraught with risk. His statements about never allowing Taiwan’s separation and the need for prudence on arms sales reflect the seriousness with which Beijing views these flashpoints.

With an April summit on the horizon and both leaders publicly committed to dialogue, the world will be watching to see whether the positive rhetoric translates into meaningful progress—or whether old disputes will once again rise to the surface. For now, at least, the lines of communication remain open, and the world’s two superpowers are talking, not shouting.