The Xi–Trump meeting in Washington produced ceremony but no concrete agreements, which is bad for anyone hoping for progress on trade or Iran.

• The summit ended with a state dinner, a tour and warm words, but no announced deals on trade or anything else.
• Trump spent years attacking China and promising he would never host Xi for a state dinner — he did exactly that.
• The one claimed win is a verbal assurance that China will stop helping Iran in the war, with no proof behind it.
• Meanwhile China keeps taking over high-tech markets the West used to own and is filling the space the US is leaving at the UN.
• Elon Musk, the loudest voice in Trump's tech circle, publicly praises China and credits his Shanghai factory for Tesla's success.

Outlook: Trump says he will meet Xi again in China in November and at the G20 in Miami in December, so any real deal is months away at best.