Donald Trump and Chinese leader Xi Jinping will meet Thursday to seek a truce in their prolonged trade war, the US president said.
The conflict, spanning rare earths, soybeans and port fees, has rattled markets and clogged global supply chains for months.
Trump predicted a “great meeting” after preparatory talks by officials, saying that “a lot of problems are going to be solved.”
“We have been talking to them; we’re not walking into this cold,” he said en route to South Korea for talks.
China’s foreign ministry was cautious, saying Xi and Trump will have “in-depth” discussions on “major issues” affecting bilateral relations.
Spokesman Guo Jiakun said both sides aim for positive outcomes and fresh momentum in China-US relations.
Trump indicated an agreement could include lowering 20 percent tariffs on Chinese goods linked to fentanyl, which has killed tens of thousands.
He also hopes China resumes purchasing American soybeans, a critical concern for US farmers, after Treasury officials reported “substantial” commitments.
Another key issue is Beijing’s new export controls on rare earths, materials essential for advanced electronics and global industries.
“There are still many unresolved issues between the two countries,” said Yue Su of The Economist Intelligence Unit, noting only some easier wins may emerge.
The summit occurs alongside the Asia-Pacific Economic Cooperation meeting in Gyeongju, marking the final stop of Trump’s Asia tour.
Trump received lavish gifts in Japan and South Korea, including a golden crown replica, a golf putter, and a gold-plated golf ball.
Despite hopes, Trump’s planned North Korea stop did not materialize, though he suggested future talks could still occur to ease tensions.
Even if Xi and Trump reach a trade deal, deep economic, technological, and strategic rivalries will persist between the US and China.
Taiwan could emerge as a surprise topic, though Trump said the issue may not be discussed, asserting: “Taiwan is Taiwan.”
