A fresh escalation in the US-China trade war looms as President Donald Trump prepares for what he calls a “fantastic meeting” with President Xi Jinping. Trump, speaking in Japan, said he is confident the talks “is going to work out very well.”
The high-stakes discussion is scheduled for Thursday in South Korea, where both leaders will be attending the Asia Pacific Economic Cooperation (APEC) summit. This is a crucial stop on Trump’s Asia tour, which has been focused on global trade.
The meeting follows a new round of hostilities. The conflict reignited when China imposed tight controls on rare earth exports, a move that prompted the US to threaten new 100% tariffs on Chinese goods, effective November 1.
The trade friction has also seen the US implement additional port fees on Chinese ships. Beijing responded with its own set of countermeasures, shattering a recent period of calm and raising the stakes for the upcoming talks.
“That’s a big meeting,” Trump emphasized to reporters. He added that both leaders have full agendas, noting, “I have a lot to talk about with President Xi, adding that the Chinese leader also has a lot to talk about with us.”