The beginning of better relations with China?

The Beijing meeting marked a shift from confrontation toward managed competition, with both the US and China signaling a willingness to stabilize relations rather than pursue a grand bargain.

For investors, that improves visibility around trade, tariffs, and key supply chains, even as strategic rivalry remains firmly in place. The agreement on aircraft purchases, chip sales, and limited tariff relief points to selective cooperation where both sides see economic value.

Risks are still significant, especially around Taiwan, rare earths, and energy exposure tied to the Middle East. But the opening of new bilateral channels suggests policy shocks may be more contained in the near term.