"But the one that really is the most interesting for the people at this table is beef", Trump said.
At the 5th India-China Strategic Economic Dialogue in Beijing, Niti Aayog Vice Chairman Rajeev Kumar said that Beijing and New Delhi were unruffled by the "protectionist noises" and could well be the important anchor for the world economy.
Whatever the outcome, Xi's announcement was good news in that it seems to reflect a reluctance to engage in a tariff war.
Neighbouring Taiwan has expressed concern at Xi's actions, as the Chinese President has set his country on the course of one of the most ambitious military development programmes ever seen.
Also, said Xi, China will address a longstanding USA complaint, intellectual property protection.
The new Trump administration has sought closer ties to President Tsai's government, angering Beijing by signing two deals in the past month to tighten ties with the island, including a travel act which will allow more official visits between the U.S. and Taipei. I don't blame China; I blame our representatives, frankly.
State media said the fleet review included 48 ships, among them China's sole operating aircraft carrier, the Liaoning, along with 76 helicopters, fighter jets and bombers, and more than 10,000 personnel, making it the largest since the founding of the People's Republic of China in 1949.
The value of United States imports to China grew comparatively slower, at a rate of 8.9% to reach USD41.7 billion. Or is Xi merely trading his promises for relaxation of the Trump tariff position?
"Now they have the military capabilities, they want to display them. they want to display their power", he said. It calls for creating Chinese competitors in electric cars, robots, artificial intelligence and other fields.
"The business community worries about escalation of trade tensions, this idea of tit-for-tat that has characterized the past couple of weeks has been troubling", said Jake Colvin, vice president of the National Foreign Trade Council, a pro-trade business group.
The U.S. steel and aluminum tariffs also have irked Japan, America's closest ally in Asia.
But Vice Commerce Minister Qian Keming said at the forum on Tuesday (10 April) that China's economic reforms were driven by domestic factors and not due to external pressures.
At a time when the U.S. is increasingly backing away from global commitments, China and India can fill in the vacuum, just as they did in the case of climate change negotiations where both countries pledged they will reducing greenhouse gases by 2020, even as the USA later pulled out of the Paris Accord.
Analysts have cautioned that any Chinese concessions on autos, while welcome, would be a relatively easy win for China to offer the United States, as plans for opening that sector had been under way well before Trump took office.
"The sharp decline in March export growth after very solid performance in January and February suggests some exporters may have front-loaded exports [early] this year due to concern over the possibility of a Sino-US trade war after the US hiked tariffs on global imports on solar panels and washing machines", Lisheng Wang, an economist at the financial firm Nomura in Hong Kong, told Reuters.
"We put a $50 billion tariff on, and then we put $100 billion tariff on".