President Donald Trump & Chinese President Xi Jinping To Discuss Trade Relations At APEC Summit In South Korea

United States President Donald Trump and Chinese President Xi Jinping are set to meet on Thursday, October 29, in South Korea. This meeting will occur during the Asia-Pacific Economic Cooperation (APEC) summit, which includes 21 countries. The backdrop of this meeting is the ongoing trade tensions between the US and China, involving issues from rare earths to soybeans and port fees.

A day prior, Trump expressed optimism about his upcoming meeting with Xi Jinping. He described it as a "big" and "fantastic" event that he believes will "work out really well" and address numerous issues. Trump stated, "I will be meeting President Xi today…a very fantastic meeting….It's a big meeting. I think it's going to work out really well. It's going to be great for everybody."

Potential Outcomes of the Trump-Xi Meeting

There is speculation that an interim agreement might be reached between the US and China. This could include partial tariff relief and commitments from China to purchase US-made soybeans and Boeing aircraft. If successful, Washington might permit the export of advanced computer chips to Beijing in return for China easing restrictions on rare earth magnets, which is crucial for the US.

Earlier this month, Trump's anger was sparked by Beijing's new export controls on rare earth elements essential for technology production. In retaliation, his administration threatened to limit exports of products containing US software. Trump has emphasized his desire for China to resume buying US soybeans after halting purchases worth $12.6 billion in 2024.

Additional Discussion Points

The discussions may also touch upon reducing 20 percent tariffs on Chinese goods related to fentanyl or lifting mutual port fees imposed by both nations on each other's vessels. Taiwan could emerge as a topic during the talks between the two leaders. Trump mentioned that Xi "might want to talk about it," indicating its potential inclusion in their discussions.

Earlier in the day, there were indications from the Trump administration about reaching a deal with China regarding TikTok's operations in the US. Treasury Secretary Scott Bessent mentioned on CBS that both leaders would "consummate that transaction on Thursday in Korea."

As these high-stakes discussions unfold, global attention remains fixed on how these negotiations might influence international trade dynamics and bilateral relations between these two powerful nations.