The rivalry between Washington and Beijing has entered a less predictable phase. Tariffs are no longer simply bargaining tools but structural features of the relationship. Export controls and investment restrictions are accelerating a technological split. China’s industrial overcapacity is forcing governments and companies alike into tough choices over supply chains, market access and national security, and the question becomes how the United States effectively competes with an aggressively state-sponsored economy.

After this week’s well-timed conference, Presidents Trump and Xi will meet at a moment when the costs of miscalculation are rising: Can this summit produce guardrails that matter—or will it simply mark the next turn in a more confrontational cycle? And what should business leaders be watching in the days immediately following the meeting? The U.S. Chamber's own Jeremie Waterman joins Jay Sapsford live from the Chamber's own conference on China to discuss these vital issues.

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