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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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PoliticsDonald Trump
Asia

Trump invites China’s Xi Jinping to inauguration, CBS says

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Jenny Leonard
Jenny Leonard
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Akayla Gardner
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Bloomberg
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By
Jenny Leonard
Jenny Leonard
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Akayla Gardner
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December 12, 2024, 12:35 AM ET
Xi’s attendance would be unprecedented: No Chinese leader has ever joined an inauguration ceremony of the U.S. president.
Xi’s attendance would be unprecedented: No Chinese leader has ever joined an inauguration ceremony of the U.S. president.Wagner Meier—Getty Images
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U.S. President-elect Donald Trump has invited Chinese President Xi Jinping to attend his inauguration next month, CBS reported, citing multiple sources.

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The invitation may signal an effort by Trump to court his Chinese counterpart just as he threatens fresh tariffs against the world’s second-largest economy. 

Xi’s attendance, however, would be unprecedented: No Chinese leader has ever joined an inauguration ceremony of the U.S. president, which is typically attended by ambassadors. No foreign head of state has attended one in more than a century, according to State Department records going back to 1874.

There would also be huge political risks to Xi for attending, as well as the potential discomfort of sitting outside for hours on a cold January day in Washington. Low temperatures during President Joe Biden’s 2021 inauguration generated memes of politicians such as Senator Bernie Sanders, who sat huddled in a thick jacket, COVID mask and gloves on the inauguration stage.  

Moreover, Trump regularly goes off-script during public speeches, making surprise announcements and even jokes that sometimes don’t land. This week the president-elect referred to Canadian Prime Minister Justin Trudeau as “governor” of the “Great State of Canada.” That came just days after the two leaders met in Florida following Trump’s threat to impose tariffs on both Canada and Mexico. 

China’s Foreign Ministry didn’t immediately respond to a request for comment.

Trump said in an interview with NBC’s Meet the Press that aired last weekend that he had communicated with Xi recently, but declined to say what they had discussed. They last met in person in June 2019 on the sidelines of the Group of 20 summit in Japan.

Trump has been meeting with and courting multiple foreign leaders, including during a trip to Paris last weekend when he met with French President Emmanuel Macron and Ukrainian President Volodymyr Zelenskiy.

Biden hasn’t been to China during his term, partly due to travel disruptions during the COVID-19 pandemic. Leaders of the world’s two largest economies usually take turns to visit each other’s nation. If the pattern holds, it will be the U.S. president’s turn to travel.

The U.S. and China are bracing for a renewed standoff after Trump campaigned on implementing sweeping tariffs targeting all Chinese goods with 60% duties. Last month, he vowed to impose an additional 10% duty if Beijing doesn’t help stem the flow of fentanyl that is coming across the U.S. southern border.

Xi congratulated Trump following his election win and expressed his desire to keep relations stable, but has in other occasions sought to set boundaries with the incoming administration by talking up “four red lines” in bilateral ties.

Xi’s warning

In his final meeting with Biden, Xi warned against any move to undermine the Communist Party’s grip on power, push the nation toward democracy, contain its economic rise or encourage independence for Taiwan, the self-ruled island claimed by Beijing. 

China is also ratcheting up trade tensions by banning the export of several materials with high-tech and military applications. 

Earlier this week, Xi said trade and technology wars “will have no winners” while reiterating that Beijing is willing to maintain dialog and manage its differences with Washington.

Trump has tapped a number of China hawks to lead the economic and security portfolios in his incoming administration.

He has named Representative Mike Waltz as his national security adviser and is nominating Senator Marco Rubio as secretary of State. Both have called Beijing an adversary and advocated for decoupling from its economy. 

But Trump has also tapped former Senator David Perdue as his ambassador to China, enlisting a businessman with experience working in Asia, who stands to offer a potentially moderate voice on policy toward Beijing.

In announcing that appointment, Trump said Perdue “will be instrumental in implementing my strategy to maintain Peace in the region, and a productive working relationship with China’s leaders.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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