CNBC's The China Connection newsletter: Five things to watch for the Trump-Xi summit

President Donald Trump and Chinese President Xi Jinping tour Zhongnanhai Garden in Beijing, China, May 15, 2026.China Pool | Getty Images News | Getty ImagesHi, this is Evelyn, writing to you from Beijing. Welcome to the latest edition of The China Connection — a snapshot of what I'm seeing and hearing from local businesses.I'm joined again by my Singapore-based colleague Anniek Bao, as we unpack expectations inside and outside China for a closely watched summit in Washington, D.C., later this week. Fanfare aside, what will this meeting achieve?The big storyMany in China sound far more optimistic than those in the U.S. about the bilateral relationship, ahead of a highly anticipated summit this week.It reflects Beijing's growing confidence, after China was the first major economy to retaliate against the Trump administration's "Liberation Day" tariffs in April 2025. But the list of U.S. concerns has only grown. Staying ahead of China in the artificial intelligence race has become Washington's latest worry. As Chinese President Xi Jinping heads to the U.S. for his first state visit since the Obama administration, here's what businesses are watching:1. Trade truce extensionThe two sid...