US President Trump and China’s Xi Jinping hold first face-to-face meeting since 2019, aiming to resolve trade disputes including tariffs and rare earths
BUSAN: US President Donald Trump and Chinese leader Xi Jinping will seek a truce in their damaging trade war during their Thursday meeting.
Trump predicted a “great meeting” while Beijing adopted a more cautious tone about the encounter.
The economic conflict between the world’s two largest economies has disrupted markets and supply chains for months across various sectors.
This marks the first face-to-face meeting between the two leaders since their 2019 encounter.
The White House confirmed the meeting would begin at 11:00 am local time in Busan, South Korea.
Xi departed Beijing accompanied by top officials including Cai Qi, Foreign Minister Wang Yi and Vice Premier He Lifeng.
Trump traveled to Busan’s Gimhae airport from Gyeongju to meet the Chinese delegation.
Following preparatory talks by officials, Trump expressed confidence that “a lot of problems are going to be solved”.
The US president noted that negotiations had already begun, stating “we’re not just walking into the meeting cold”.
China’s foreign ministry described the planned “in-depth” talks covering “major issues” between the nations.
Ministry spokesman Guo Jiakun said China would work with the US to ensure “positive outcomes” from the meeting.
Trump indicated potential agreement on lowering 20% tariffs on Chinese goods related to fentanyl.
The opioid crisis involving fentanyl has caused tens of thousands of American deaths.
US farmers await news on whether China will resume purchasing American soybeans.
US Treasury Secretary Scott Bessert confirmed Beijing had agreed to “substantial” purchases after preliminary talks in Malaysia.
Another critical issue involves China’s recent export controls on rare earth materials.
Beijing’s virtual monopoly on these essential electronic components prompted Trump to question the summit.
Economist Intelligence Unit analyst Yue Su noted many unresolved issues remain between the trading partners.
Su suggested potential “easiest wins” could include removing port fees or lifting some fentanyl-related tariffs.
The leaders meet during the Asia-Pacific Economic Cooperation summit in Gyeongju involving 21 countries.
Trump’s Asia tour included receiving gifts like a replica ancient Korean golden crown and golf equipment.
Japan’s new Prime Minister Sanae Takaichi announced she would nominate Trump for the Nobel Peace Prize.
Hope for a repeat of Trump’s 2019 meeting with North Korean leader Kim Jong Un appears unlikely.
Trump confirmed plans to meet Kim in the “not too distant future” to address Korean peninsula tensions.
The US president praised the strengthened military alliance with South Korea during his visit.
Trump authorized Seoul to build a nuclear-powered submarine, signaling deepened defense cooperation.
Even with potential agreements, the fundamental US-China economic and strategic rivalry will continue.
Trump can showcase his negotiation skills amid American household concerns about persistent inflation.
A successful meeting could lead to another lavish Trump visit to China, similar to his 2017 trip.
Taiwan represents a potential surprise topic, with Beijing possibly pressing for reduced US support.
Washington has recognized Beijing over Taipei since 1979 while remaining Taiwan’s main ally and arms supplier. – AFP
