On Thursday, President Donald Trump announced that he and Chinese President Xi Jinping had a “very positive” call on trade. The two leaders, he said, had resolved tensions over rare earth mineral exports, and their teams would meet again soon. Xi welcomed Trump to visit Beijing.

Invitations were exchanged. Smiles posted. Beneath the surface, almost nothing changed.

A 90-day tariff truce brokered in Geneva was already unraveling when Thursday’s call took place. Xi’s message was diplomatic but direct: Steer this “big ship” away from sabotage—or else. Trump, of course, heard what he wanted: a deal he could sell, regardless of whether one exists.

We’ve seen this play before. The handshakes. The headlines. The claim that he alone can fix it. The problem is that rational trade policy isn’t the goal. Performance is. That’s what the floated Beijing trip is about: optics. A meeting, a photo, and a three-word phrase he can yell from a tarmac—“Tough but fair.”

Trump’s moves are driven not by national interest but emotional payoff. If a negotiation makes him look small, he will sabotage it. If a headline calls him weak, he’ll escalate. If Xi flatters him, he’ll fold.

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