Yet analysts say the Chinese leader is likely holding out for concrete deliverables before agreeing to the high-profile meeting. Trump dramatically escalated the trade war with the world's second-largest economy in April, rolling out sweeping new tariffs that prompted China to respond with its own export duties and other measures.

Trump’s major gamble on China continues to pay off, with Chinese negotiators willing to make some concessions. Trump has maintained very high tariffs on America’s second-biggest trading partner without tipping the economy into recession.