Trump's visit to China can represent at least three economic signals. The United States actually needs China's low-cost supply chain very much. The energy price increase caused by the US Iran conflict has pushed up CPI, leading to a series of problems, For example, residents' bills have become more expensive, and business costs have risen, Of course, yesterday it was also mentioned that interest rate expectations continue to lower stock market valuations. If Trump persists in the trade war and continues to suppress Chinese imports, it is equivalent to leaving all the pressure of commodity inflation and corporate gross profit in the United States. So the first economic signal of Trump's visit to China is that the United States needs China's supply chain to help it ease commodity prices and business costs. In other words, the trade war is temporarily suspended. The Republican Party in the United States still relies on made in China and Asian assembly to bring down prices in the short term, and it is unlikely that the return of manufacturing will be achieved in one go during periods of high inflation. 2. AI chip unlocking. Huang Renxun temporarily joined the delegation, and Nvidia's biggest problem is that AI capital expenditures are becoming increasingly heavy and valuations are getting higher. The market has already assumed that it can continue to meet global demand, and the Chinese market has been completely lost for a long time, seriously damaging the income curve of American tech giants themselves. Simply put: -American companies lack revenue -Chinese enterprises lack computing power After the lifting of restrictions, US technology stocks continued to maintain high valuations, and Chinese AI applications began to develop rapidly. China has begun to make concessions to the United States. -By 2025, the US trade in goods with China has dropped to $414.7 billion, and US imports from China have decreased by 29.7% year-on-year, -CNA mentioned that China and the United States are expected to discuss trade and investment mechanisms, and China may announce Boeing aircraft, US agricultural products, and energy related purchases, while also discussing the extension of the trade war ceasefire on rare earth flows to the United States. -China's short-term economy is beginning to bear pressure from external demand, real estate, local finance, and employment expectations simultaneously. Under the layer by layer escalation, China is willing to exchange computable purchase orders for stable export environment, corporate investment expectations, and RMB expectations. In addition, airplanes, agricultural products, and energy have one thing in common: large amounts can be quickly monetized. American companies receive orders, while China's trade friction cools down. At the same time, the market sees that the China US chain is still in operation, and risk appetite for the renminbi and Hong Kong stocks will be repaired first. Each performs as needed.