South Korea is set to host a critical meeting between US President Donald Trump and Chinese President Xi Jinping on Thursday. The talks, described by Trump as a “big meeting,” will occur on the sidelines of the APEC summit.
Speaking from Tokyo, President Trump was notably optimistic, stating, “I think it’s going to work out very well, actually.” This confidence comes despite a severe new flare-up in the trade war between the two economic superpowers.
Recent weeks have seen a sharp escalation in tensions. The US has threatened to impose 100% tariffs on Chinese products starting November 1. This was a direct response to China’s decision to tighten export controls on its rare earth minerals.
The tit-for-tat measures have continued, with the US adding port fees for Chinese ships, which in turn sparked a wave of retaliatory actions from Beijing. This ends a recent period of relative stability in their trade relationship.
Trump, whose Asia trip has focused heavily on trade, is aiming for a positive outcome. He described the upcoming meeting as “fantastic” and said it would be “great for everybody,” suggesting he is seeking a resolution to the damaging dispute.