Trump-Xi Summit: Trade, Taiwan and the red lines shaping US-China talks | Race To Power

Leaders of two global superpowers will be meeting for the second time this year. Four months after visiting Beijing, US President Donald Trump will now host his Chinese counterpart on American soil.

This is Xi Jinping's first visit to US in more than 10 years, and the world is watching keenly.

The decisions that both countries take and the remarks that are made are bound to have a global impact.

A host of issues are expected to be on the agenda for the Trump-Xi summit.

Trade could potentially be front and centre in the high-stakes meeting.

US and China have been at loggerheads ever since Trump first announced sweeping retaliatory tariffs on all its trade partners.

For Beijing and Washington, trade ties reached a new low when both sides slapped high tariffs against each other's goods.

Last year's trade war saw US tariffs on Chinese goods rise as high as 145%, while China's retaliatory tariffs reached 125%.

While both countries have rolled back few of these measures, many of the tariff rates and the major flashpoints still remain unresolved.

The last time the two leaders met was in Beijing in May, but that summit fell short of delivering on several key commitments.

But it is a race against time, as a November 10 deadline on the current trade agreement looms large on the upcoming talks.

Other important aspects might include cooperation on artificial intelligence risks, and a discussion on critical rare earth minerals as well. But it is not just about what is on agenda.

It is also about what might not be on the list for bilateral discussions.

According to reports, Beijing has given Washington four red lines on what US is not allowed to talk about during Xi's visit.

These include Taiwan, democracy and human rights, China's political system and its development rights.

Chinese Ambassador Xie Feng also urged the US not to use national security and forced labour as grounds to constrain China.

A separate report in China's People's Daily called Taiwan a key guardrail for ties and warned US to handle the issue with utmost caution.

The meeting also comes at a time when world leaders at the UNGA are discussing multilateralism and ongoing challenges which have fractured global ties.

Trump has pushed forward the idea of the group of two concept, an exclusive, bilateral, deal-based framework between the two superpowers.

China on the other hand, has remained hesitant of such a dynamic.

But the US president has often touted his personal relationship with his Chinese counterpart.

The question is -- will it help iron out wrinkles in a complex relationship between two economic giants competing with each other?