Yet analysts say the Chinese leader is likely holding out for concrete deliverables before agreeing to the high-profile meeting. Trump dramatically escalated the trade war with the world's second-largest economy in April, rolling out sweeping new tariffs that prompted China to respond with its own export duties and other measures.

The US and China are likely to extend their tariff truce for another 90 days as trade negotiations continue, with discussions planned in Stockholm on Monday. During this period, both countries will refrain from new tariffs.

China trade has reached a "good place" with reduced tariffs, but said China's 30% share of global manufacturing is unsustainably imbalanced.

Star founders, Beijing officials and deep-pocketed financiers converge on Shanghai by the thousands this weekend to attend China’s most important AI summit. At the top of the agenda: how to propel Beijing’s ambitions to leapfrog the US in artificial intelligence — and profit off that drive.

At least $1bn worth of Nvidia’s advanced artificial intelligence processors were shipped to China in the three months after Donald Trump tightened chip export controls, exposing the limits of Washington’s efforts to restrain Beijing’s high-tech ambitions.

As President Donald Trump dismantles U.S. soft power and launches trade wars with allies, China is content to sit back and watch.

Lutnick’s comments follow his warning last week that TikTok will have to stop operating in the U.S. if China does not approve a deal for the app.

"Putin got a 50-day pass to kill as many people as he can and do whatever he wants in Ukraine," Hope for Ukraine CEO told Newsweek.