Trump met Xi with a friendly tone

During Xi Jinping's visit to Washington, Donald Trump stressed cordial relations between the United States and China, despite ongoing tensions. The New York Times reported that Trump played down Chinese actions that affect U.S. interests during the visit.

Sino-American rivalry intensifies

In autumn 2025, rivalry between the United States and China reached its peak, with U.S. tariffs approaching 40% and major technology sanctions against Chinese firms. China retaliated with expanded export restrictions and a ban on strategic materials such as gallium and germanium.

A Korean truce eases some tensions

A truce in Korea, negotiated in October 2025, lowered tariffs to about 30% and eased some restrictions, benefiting both sides. However, the struggle for control over semiconductor manufacturing continues, with the United States maintaining sanctions against Chinese technology firms and China relaxing some of its export restrictions.

The U.S. secures rare earth resources

In the weeks before the Korean truce, Trump signed mining agreements with Australia, Japan, Malaysia, Thailand, the Democratic Republic of the Congo, and Morocco in order to bypass China's near-monopoly on rare earths. Trump also continued financial support for the critical metals sector, promoted domestic extraction, and introduced a price floor system for strategic minerals.

The U.S. seeks global digital dominance

The American strategy aims to maintain control over the digital infrastructure of the global market, as set out in its 2025 AI action plan. According to Cecilia Rikap's book The Rulers - Corporate Power in the Age of AI and the Cloud, this strategy seeks to "exercise global dominance by controlling the production of social information and knowledge in all forms."

China invests in core technologies

China's 15th Five-Year Plan (2026-2030) aims to achieve "decisive advances in key core technologies," with a focus on artificial intelligence. China has also increased its investments in the New Silk Road, injecting 213 billion dollars in 2025, a 75% increase compared with 2024.

A rivalry over digital currencies emerges

The monetary rivalry has also spread to the digital sphere, with the United States pushing for dollar-backed stablecoins through the GENIUS Act of July 2025. The aim is to reinforce the dollar's position in international payments. In response, China is advancing the internationalization of the renminbi, with the value of transactions processed by the CIPS payment system rising from 26 trillion yuan in late 2022 to 45 trillion yuan in late 2025.

The U.S. faces domestic economic challenges

In the United States, the relationship with the global market has become explosive, as the promise of social calm through globalization has been broken. Inflation and rising living costs have heightened social tensions, with labor's share of value added falling to 52.8%, the lowest since 1947.