US Senator Elizabeth Warren has accused President Donald Trump of prioritising billionaire business interests over American workers during his recent visit to China. A Senate committee minority staff report alleged that the trip benefited wealthy corporate allies while raising concerns over tariffs, trade policy and national security…reports Asian Lite News Desk
US Senator Elizabeth Warren has accused President Donald Trump of using his recent visit to China to benefit billionaire allies and corporate donors, describing the trip as “a corruption tour disguised as diplomacy”.
The criticism came in a report released by the minority staff of the Senate Banking, Housing and Urban Affairs Committee, led by Warren, which alleged that Trump’s China policy favoured wealthy business interests over American workers, farmers and households.
“President Trump didn’t go to China to fight for American workers or farmers — he went to cut deals for the billionaires who funded his campaign and his ballroom,” Warren said in a statement. “The American people will not forget this brazen display of corruption.”
The report claimed Trump travelled to China accompanied by a delegation of billionaire executives whose combined wealth “approaches $1 trillion”. According to the report, many of the executives and their companies had direct business interests connected to trade and regulatory discussions with Beijing.
Business leaders named in the report included Tesla and SpaceX chief Elon Musk, NVIDIA chief executive Jensen Huang, Apple chief executive Tim Cook, Boeing chief executive Kelly Ortberg, Qualcomm chief Cristiano Amon, Blackstone chairman Stephen Schwarzman and Citigroup chief executive Jane Fraser.
The report alleged that Trump owned stock in several companies represented on the trip and claimed that some executives or corporations had contributed to Trump’s inauguration fund or White House ballroom project.
“These billionaires and CEOs are fighting for carveouts from rules and special treatment, while workers and households pay the price,” the report stated.
The Senate committee report also criticised Trump’s tariff strategy towards China, arguing that American consumers and businesses were carrying the financial burden of the trade measures rather than Beijing.
According to the report, tariffs imposed during the trade dispute cost the average American household $1,700 in 2025 and could increase to an average of $2,500 in 2026. It also claimed farm bankruptcies rose by 46 per cent in 2025, including a 70 per cent increase across the American Midwest.
The report further alleged that Trump had failed to secure commitments from China to end what it described as “unfair trade practices” or “currency manipulation”.
A significant section of the report focused on NVIDIA and advanced artificial intelligence chip exports to China. The report said Jensen Huang joined the China trip after lobbying the administration to permit additional exports of AI chips to Chinese firms.
According to the committee staff, senior American military and intelligence officials had warned that exporting advanced AI technology to China could pose risks to US national security.
The report cited warnings from Admiral Samuel Paparo, head of the US Indo-Pacific Command, and General Joshua Rudd of the National Security Agency, regarding the potential implications of advanced semiconductor exports.
“American families pay more, farmers make less, and national security warnings are brushed aside so that the President and his billionaire allies can profit,” the report concluded.
Trump has repeatedly defended his China trade policy, arguing that tariffs and economic pressure are necessary to counter Beijing’s trade practices and protect American manufacturing and supply chains.
The White House has maintained that its tariff measures are intended to strengthen domestic industry, reduce economic dependence on China and secure long
