The Art of the Deal: Inauguration Edition
On November 29, we published an article titled "The Art of the Deal, 2.0: A Trump Tower Thought Experiment," envisioning a hypothetical meeting between President-elect Donald Trump and Chinese President Xi Jinping at Trump Tower. At the time, it was merely a bold premise—a thought experiment suggesting that a deal between the United States and China might be closer than it seemed. Days later, it emerged that Trump had, in fact, already invited Xi to attend his inauguration—a surprising and unprecedented move only revealed to the public in early December.
Traditionally, U.S. presidential inaugurations are domestic affairs, with foreign representation limited to ambassadors. State Department records dating back to 1874 show that no foreign head of state has ever attended, making President-elect Trump's invitation to Xi an unprecedented departure from protocol. As Trump himself said, "And some people said, 'Wow, that's a little risky, isn't it?' And I said, 'Maybe it is. We'll see. We'll see what happens.'"
Reports suggest President Xi is unlikely to attend, wary of the domestic and international implications. Attending could be seen as favouring one U.S. leader over another, complicating China's broader diplomatic strategy. The Chinese embassy has not commented, and experts note Xi would want to avoid any perception of endorsing Trump’s leadership.
Trump’s guest list also includes Hungarian Prime Minister Viktor Orbán, Italian Prime Minister Giorgia Meloni, and Argentine President Javier Milei, each reflecting a distinct ideological alignment or potential for collaboration. Orbán, known for his nationalist policies such as strict immigration controls and crackdowns on independent media, and his strained ties with the EU over rule-of-law disputes, shares ideological similarities with Trump. His stance on sovereignty and resistance to globalist policies aligns closely with Trump's priorities.
Notably, but perhaps unsurprisingly, Russian President Vladimir Putin was not invited, a decision that highlights the ongoing U.S.-Russia tensions and reflects Trump’s intent to avoid controversy at an already highly scrutinised event.
While it remains unclear which leaders will accept, the invitations highlight Trump’s willingness to rewrite protocol and forge unexpected alliances. Even if Xi declines, the outreach underscores a strategy aimed at reshaping global relationships on Trump’s terms, signalling a readiness to break from tradition in pursuit of his diplomatic agenda. As Trump himself said, "We like to take little chances."
If you would like to receive The Daily Update to your inbox, please email markets@epicip.com or click the link below.