• The Trump administration is planning to invite top executives from Nvidia, Apple (AAPL), Exxon, Qualcomm (QCOM), Blackstone (IBM), Citigroup, and Visa on a trade mission to China, according to people familiar with the matter.
  • The delegation aims to bolster U.S. commercial ties even as export controls on advanced technology remain a sticking point.
  • The trip signals a dual-track approach: engaging Chinese leadership on trade while maintaining restrictions on sensitive tech exports.

CEO delegation to China takes shape

The Trump administration is assembling a high-powered delegation of American CEOs for an upcoming trip to China, according to three people familiar with the planning. The invite list includes leaders from Nvidia, Apple, Exxon Mobil, Qualcomm, Blackstone, Citigroup, and Visa, among others.

The trip, expected to take place in the coming weeks, is designed to showcase U.S. business interest in the Chinese market even as the White House maintains restrictive export controls on advanced semiconductors. One person familiar with the matter described the effort as "a balancing act" — promoting commercial diplomacy while safeguarding national security.

Nvidia, whose advanced AI chips have been a focal point of U.S. export curbs, has been in ongoing discussions with the administration about the scope of allowable sales. CEO Jensen Huang has previously warned that overly restrictive rules could undermine American competitiveness.

Companies weigh risks and rewards

For Apple, whose supply chain is deeply intertwined with China, the trip offers an opportunity to reaffirm its commitment to the market. The company generates about 17% of its revenue from greater China, according to its most recent filings.

Exxon Mobil, Blackstone, Citigroup, and Visa each have significant exposure to China and have been navigating geopolitical headwinds. Qualcomm, a major supplier of chips to Chinese smartphone makers, has historically relied on China for more than 60% of its revenue.

"A delegation like this sends a strong signal that business wants to remain engaged," said a former U.S. trade official who spoke on condition of anonymity. But it also risks creating confusion if the administration simultaneously tightens tech restrictions, they added.

Attempts to reach the White House and the companies for comment were not immediately successful. The trip has not been publicly confirmed, and details could change.

Broader context

The planned delegation follows a pattern of CEO-level engagement during periods of U.S.-China tension. In 2023, a similar group of executives including Blackstone's Stephen Schwarzman and Qualcomm's Cristiano Amon met with Chinese President Xi Jinping in Beijing.

The trip comes as the Commerce Department continues to review export rules for AI chips, with an updated framework expected in the coming months. Without a clear signal on allowed sales, companies like Nvidia face continued uncertainty.

Correction: An earlier version of this article incorrectly stated the number of executives invited. The final list remains under discussion.