Trump and Xi Set for High-Stakes White House Summit Amid Trade and AI Talks

President Donald Trump and Chinese Leader Xi Jinping are expected to meet at the White House on Thursday for high-stakes talks about trade, artificial intelligence and the Iran war — in between displays of military fanfare and a lavish banquet.

While China analysts broadly predict the leaders' personal relationship and policy goals will result in a cautious summit that yields few major deliverables, their latest face-to-face nevertheless carries real geopolitical risk.

That significance was on display the moment Xi arrived Wednesday evening at Maryland's Joint Base Andrews, where he was greeted on the tarmac by Trump — who met him at the airplane stairs after walking down a red carpet that U.S. service members had rolled out.

It was Trump's first time traveling to the base to welcome a foreign leader, a source familiar confirmed to CNBC on condition of anonymity to discuss the president's plans for the summit. The last president to make the gesture was Barack Obama, who greeted then-Pope Francis on the Andrews tarmac 11 years years ago this week.

On Thursday morning, Trump and First Lady Melania Trump are set to welcome Xi and Chinese First Lady Peng Liyuan at the White House for an "arrival ceremony" on the State Floor. It is Xi's first visit to Washington since September 2015, coming to the capital city right after the pope.

The leaders will then head to the Rose Garden for a military review, after which Trump and Xi will hold a bilateral meeting, while Melania Trump and Madame Peng branch off for a separate event.

That evening, Trump and the first lady will host the Chinese delegation for a state dinner in the White House's East Room, with both countries' leaders expected to give remarks at the top of the event.

A slew of U.S. business executives are slated to join the dinner. Reuters had reported that Xi was expected to bring along his own crew of CEOs, but that entourage did not materialize.

On Friday, the presidents and first ladies will hold a private tea at the White House, then take a tour of the National Archives before Xi's departure.

"President Xi hosted President Trump in China for a historic summit this summer, and President Trump is reciprocating his hospitality by welcoming the Chinese delegation for a reciprocal visit this week," White House spokeswoman Anna Kelly told CNBC in a statement.

"The President will forge relationships with anyone in order to advance our national interests and make good deals for the American people," Kelly added.

This is developing news. Please check back for updates.