Xi Jinping arrives in Washington for his first US state visit in over a decade, meeting a president who has redrawn the terms of superpower engagement. The agenda is revealing not just for what's on it — AI safety, trade, Taiwan, select human rights cases — but for what has been quietly removed. Climate cooperation, once the load-bearing beam of US-China diplomacy, is dead. Human rights, previously a fixture of these summits, survives only as transactional case-by-case advocacy. The structural story is a relationship stripped to its competitive essentials. AI governance sits near the top of the agenda, though with fundamental contradictions baked in. Treasury Secretary Scott Bessent has proposed a bilateral communication mechanism on AI safety. But Trump has called AI safety warnings a "hoax," while Xi views AI as the key to China's national potential. Any framework announced will be procedural scaffolding, not substantive constraint — a hotline, not a rulebook. As Amanda Hsiao of the Eurasia Group notes, the US and China "have had a long history of having crisis hotlines, and they haven't always been effective." Trade remains the central friction point. The temporary tariff truce, reached after both sides pushed tariffs toward 150%, expires in November. Trump's war in Iran has inadvertently stabilized the US-China trade relationship by shifting global economic pain to the Middle East. But the underlying problem is unresolved. China has weathered the trade war better than expected, with exports to other countries booming, yet restoring access to its biggest market remains Xi's priority. With two more Trump-Xi meetings expected this year, a comprehensive deal is unlikely this week — the timeline is being managed, not compressed. Taiwan is where the real negotiation lives. China's ambassador to the US, Xie Feng, published "four red lines" on Wednesday, with Taiwan first. After the May summit, Trump agreed to delay a $14 billion weapons package to Taiwan, calling it a "very good negotiating chip." William Yang of the International Crisis Group says "the Chinese side definitely feels that Trump is a rare US president that might offer a rare window of opportunity for them to influence American policy on Taiwan." Beijing officially rejects the framing of Taiwan as a bargaining chip while actively treating it as one. Human rights has been reduced to individual case advocacy. Trump may raise the cases of Ezra Jin (a detained Christian pastor whose previous mention appeared to contribute to his release), Yufang Rong's husband (a US nuclear scientist imprisoned since late 2024), and Min Zin (a US Myanmar expert arrested in China in June). The highest-profile case — Jimmy Lai, a British pro-democracy activist jailed in Hong Kong — remains stuck. Trump conceded in May that Beijing was unwilling to budge, calling it "a tough one." The systemic human rights conversation that characterized the Obama era is gone. The climate crisis, once the signature area of US-China cooperation, will not be meaningfully discussed. Trump has withdrawn from the Paris agreement. Beijing and Washington are too divided on other issues to sustain cooperative frameworks. "The climate conversation is just not really a topic that Trump is interested in talking about," says Yang. This absence is itself a policy outcome — the two largest emitters have decoupled their climate strategies entirely. The summit's architecture reveals a US-China relationship that has been stripped to transactional exchanges: tariff levels, weapons sale timelines, individual prisoner releases. The generative potential of the relationship — joint climate action, technology cooperation, institutional trust-building — has been traded away for leverage in a zero-sum negotiation. Xi is betting that Trump's transactional instincts create openings that a more ideologically committed president would never offer, particularly on Taiwan. Whether that bet pays off depends on what Trump considers a fair price.