Trump calls the entourage of 12 CEOs accompanying him to China an “incredible gathering” of America’s “Greatest Businessmen/women.”

Well, it may be an incredible gathering. But to characterize them as America’s greatest business leaders — who are assumed to be leading America’s competitive charge against China — is misleading.

The American CEOs traveling with Trump to China don’t think of themselves as being in competition with China. In fact, they’d like nothing better than to make more money for themselves and their shareholders by setting up more lower-cost, highly productive factories and research facilities in China and hiring more Chinese talent.

It’s an important distinction. The CEOs of Chinese companies are in business not only to make money but also to strengthen China’s geopolitical power in the world. The CEOs of American companies want to make gobs of money, of course, but they couldn’t give a rat’s ass about strengthening America’s geopolitical power in the world.

This basic difference is airbrushed away in breathless media stories about the competitive race between the American and Chinese economies — the so-called “race for supremacy” in AI, advanced semiconductors, supercomputers, solar wafers, biotechnology, and other industries of the future.

The distinction never appears in the breezy press coverage of Trump’s trip to China, along with his “U.S. corporate” delegation.

Take Elon Musk, obviously a conspicuous presence in Trump’s CEO delegation. Musk’s Tesla Gigafactory Shanghai produces over a third of Tesla’s global car sales. It’s also Tesla’s most productive factory. In February 2025, Musk opened a second factory in Shanghai, a $200-million plant focused on producing Megapack batteries. Nearly 40 percent of Tesla’s entire battery supply chain relies on Chinese companies.

All good for Musk and for Tesla shareholders, but what about American workers, who aren’t getting this work? What about America’s national security, which could be compromised if China gains further global dominance over batteries (as well as other renewables)? Do you think Musk cares?

Or consider Apple’s Tim Cook, also in Trump’s CEO delegation. China has become the gravitational core of Apple’s supply chain. Indeed, much of Apple’s success is due to Cook’s move to consolidate virtually all of his company’s manufacturing in China. About 90 percent of iPhones are assembled there, backed by massive investments in local supplier expertise and infrastructure. Cook explains that he’s taking advantage of China’s “unmatched” expertise in advanced tooling and manufacturing.