US-China summit: 5 key stats & Fareed's first reactions

senior reporter David Goldman to make it make sense.He is tracking the five key numbers steering this summit.So David, help us break through the noise.What do we need to know?

Yeah, Kristen talked about sticky issues.They are sticky indeed, because the first number you need to understand is 600 million.That's the number of Chinese AI users, according to China.That is why President Trump brought with him Elon Musk and Jensen Huang and Tim Cook.There's a massive market to be tapped in China with the key technology for U .S.

national security, and that is AI.The second number you need to understand is 93%.That is the control of the rare earth market that China has.We know that the United States needs to restock its weapons after the Iran war.What makes those weapons work?Rare earth minerals.

China has control over that.That will be a big sticking point.80 % is the next number you need to know.That is the percentage of Iranian oil that China buys.That's probably even more than that.That was before the war.

China needs the Strait of Hormuz to be reopened because it relies so heavily on Iranian oil.President Trump knows that.That will be a big sticking point.point of leverage as well.$25 billion is a big number.That's the amount that Taiwan just approved to buy US military equipment.

You just heard Kristen talking about how serious she is about this issue.That will be a topic of consideration as well.And then 10 % is the last number you need to know.10 % is the tariff that the United States has put on Chinese goods.Now, remember, a year ago, it was 145%.It's come down a lot because the Supreme Court says Trump doesn't have the ability to put any tariff he wants.

He's lost a little leverage there, Pam.

David Goldman, thank you for joining us.

us better understand everything that's going on as always.CNN's Fareed Zakaria is also here, the host of, of course, Fareed Zakaria GPS.Fareed, what are you going to be watching for in this meeting in terms of, are we going to see Xi Jinping say something directly to the president about Iran?What are you expecting?

I suspect the Chinese are very formal.They very rarely will reveal publicly what they are really talking about privately.I don't know if you remember there was a time when Justin Trudeau let slip what he and Xi Jinping had been talking about and Xi was visibly upset about it and told him that's not how this is supposed to work.So I suspect what we will see will be all formalities and that kind of thing.Tough for President Trump because he likes to He likes to actually just tell you what's going on.I suspect the issue that Trump will want to come away from is some kind of economic deal where there's a talk about the Chinese buying goods, investing in America.

The Chinese will want some lowering of tariffs.The hot button, of course, is Taiwan.The Chinese have indicated that they would like to see some shift in America's position on Taiwan.I doubt that they're going to get something on it.So my guess is that this is going to be a little bit more practical and nitty gritty and not a transformative set of meetings.But, you know, I suspect that there will be progress on on most of the big economic issues that both sides want.

When you were in China last month talking to officials ahead of this meeting, what did they tell you about what to expect?

What they were hoping for was some movement on Taiwan.What they were hoping for was some movement on Taiwan.They believe that China unjustly has these very high tariffs against it.It's a little complicated now because so many of Trump's tariffs have been rolled back by the courts that it's not exactly clear what the tariffs on China are, but they are higher than other countries.And he certainly has the ways he can get them higher.But for them, The main issues were Taiwan tariffs and, to a certain extent, a sense from the United States that there was a workable relationship going forward, not a kind of race to demonize China, decouple, etc.

For Trump, I think it's You know, somebody said, well, what was it, the three B's?Beans.You know, there are three sets of goods that are beans, Boeing and something else.You know, he's trying to get the Chinese to buy American stuff.Agriculture is a big part of it.Aircraft is a big part of it.

And if they can, if he can get them to announce some big purchases, that's what he's he's going to be looking for.

Well, I mean, he also wants them to open up the Chinese economy to these American CEOs and a lot of the CEOs that are traveling with him.I mean, you just heard Kristen listing them out.Elon Musk, Tim Cook, Jensen Wang, you know, from X, Apple, Nvidia.Also, we've got reps from Meta, Boeing, those other major companies.You know, what does that look like when they're all gathered there, when they are eventually, you know, all in front of Xi Jinping together?

Well a lot of those companies have businesses in China.I mean Tesla sells lots of cars in China and it's facing stiff competition.Tesla's market share is declining not because the Chinese government is stopping them but because the Chinese have a verycompetitive EV market at home.Most of the ones you mentioned, I think other than MEDR, actually do operate there.But you're right.

Trump is looking for more market access to China.My sense, Caitlin, is if it's if it's about this kind of stuff, the Chinese are happy to deal.They're happy to be transactional.They're happy to say, in return for you lowering tariffs this much, we'll allow the American banks to own 10 % more of their joint ventures in China.The issue that they find with Trump is he's very unpredictable.He's very disruptive.

And he does things like the Iran war, which completely disrupt and upend their they're planning.I mean, the Chinese get a lot of imported energy out of the Persian Gulf, and I think they find that it's the wild card of Trump that they find harder to understand and deal with.Trump, as a transactional businessman, they're happy to cut a deal.

We're learning more about the first day of talks between President Trump and Chinese leader Xi Jinping.The two men toasting each other today at a state banquet in Beijing and praising the long, sometimes strained, relationship between the two countries.Xi and Trump both emphasizing the value of cooperation between the world's two economic superpowers.And Xi even seemingly reaching out to the president's base in these comments through a translator.Listen to this.

Achieving the great rejuvenation of the Chinese nation and making America great again can go hand in hand.We can help each other succeed and advance the well -being of the whole world.

Two and a half centuries later that first connection has grown into one of the most consequentialrelationships in world history.

Also new today, a red line over Taiwan.China state media was reporting that she warned President Trump that Taiwan is the most important issue between the two countries, and she says if mishandled could create quote a very dangerous situation, end quote.The Chinese Communist Party has long vowed to unify the island with the mainland, even if it requires military force.CNN's Kristen Holmes has more from Beijing.

This is an incredibly consequential meeting, particularly when you get to the top two topics, which are Taiwan and Iran.We heard a readout from state media saying that President Xi has issued somewhat of a veiled threat to the United States over Taiwan, saying it was the single most important issue when it comes to U .S.-China relations.And on top of that, that if it was handled poorly, it would create instability and be dangerous.We also know President Trump was expected to push President Xi to help with Iran, to pressure Iran to reopen the Strait of Hormuz.

Of course, Iran and China have a close relationship, and to potentially pressure them even into signing a peace deal.Now, what we heard from the White House, from White House officials, saying essentially that President Xi agreed with President Trump that the Strait of Hormuz should be opened and that Iran shouldn't have any nuclear capability, that's not new.We've already heard President Xi himself say that, that the Strait of Hormuz should be opened.He's losing a lot of money.That's where he gets a significant amount of his oil and gas.But in addition to that, he's also said that he is happy that Iran has agreed to have a commitment not to have any kind of nuclear capabilities.

So that part wasn't new.So really what we're looking for now is the nitty gritty and sticky details of what that conversation looks like.and if they've even had it yet, because they still have tomorrow another bilateral meeting, and this one is expected, I'm told, to be much smaller, and they are going to be hammering out some of the details.And one of the things to keep in mind is President Trump feels most powerful when he's in this kind of small setting, looking straight into the eyes of a leader, feels like he has his negotiating power.It's not one of these giant tables that we saw kind of spanning 30 people on each side.So that will be something we're watching for, too, how they come out of that meeting.

And if we do get any sort of details on what was promised, other than statements they've both kind of said already out loud.