US President Donald Trump and Chinese President Xi Jinping are scheduled to meet on Thursday in South Korea, holding high-stakes talks amid a new flare-up in their trade war.
Speaking from Tokyo, President Trump was optimistic, calling it a “big meeting” and predicting, “I think it’s going to work out very well.” The meeting is set to take place on the sidelines of the APEC summit.
The talks come after a period of relative calm was broken. China imposed tight export controls on rare earths, and the US responded by threatening 100% tariffs on Chinese goods starting November 1.
This escalation, which also includes new US port fees on Chinese vessels and subsequent Chinese countermeasures, has made this meeting a critical one for the global economy.
“We are gonna be (having) a fantastic meeting,” Trump added, reiterating his confidence. He said the outcome would be “great for everybody,” suggesting a de-escalation is his goal.