U.S. President Donald Trump, right, and Xi Jinping, China's president, walk past members of the People's Liberation Army (PLA) during a welcome ceremony outside the Great Hall of the People in Beijing, China, on Thursday, Nov. 9, 2017. During his election campaign, Trump had threatened to impose tariffs in excess of 60% on China. Earlier this month, the Joe Biden administration announced broader restrictions on U.S. exports of advanced memory chips and chipmaking machineries to Chinese companies. President Xi reiterated on Tuesday that he had "full confidence" to achieve this year's growth target, calling the country "the biggest engine of world's economic growth." Overtures but not capitulationEarlier this week, CBS reported that Trump had invited the Chinese leader to attend his inauguration next month.

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Persons: Donald Trump, Xi, Qilai Shen, Xi Jinping, Kenneth Jarrett, Jarrett, Shen Meng, Trump, Joe Biden, machineries, Daniel Balazs, Sam Radwan, Derek Scissors, Gabriel Wildau, Teneo Organizations: People's Liberation Army, PLA, of, People, Bloomberg, Getty, U.S, U.S ., China Business Council, Albright, Trump, America, Chanson, Rajaratnam, of International Studies, Nvidia, CNBC, CBS, American Enterprise Institute Locations: Beijing, China, U.S, Washington