President Donald Trump is set for a “big meeting” with Chinese President Xi Jinping in South Korea this Thursday, where they will tackle a fresh wave of trade friction.
Speaking in Japan, Trump was bullish about the meeting’s prospects. “I think it’s going to work out very well, actually,” he said, adding it would be “great for everybody.” The talks are scheduled to happen during the APEC summit.
The meeting is seen as critical, as it follows a new escalation in the trade war. The conflict re-ignited after China imposed export controls on rare earths, a move the US countered with a threat of 100% tariffs on Chinese goods from November 1.
The economic dispute has also seen the US levy additional port fees on Chinese ships, which sparked a series of mutual countermeasures from China, ending a recent lull in tensions.
President Trump’s Asia trip has centered on trade, and this meeting with Xi is the most anticipated event. Trump noted both leaders have “a lot to talk about,” signaling complex negotiations ahead.