Chinese President Xi Jinping and U.S. President Donald Trump arrived in Busan, South Korea, on Thursday ahead of a highly anticipated meeting to address trade and tariff concerns between the two countries.
The leaders met for a photo opportunity prior to their scheduled meeting at 11 a.m. local time (10 p.m. ET, Wednesday). This marks the first in-person meeting between Xi and Trump since the U.S. president began his second term in January.
The high-stakes summit comes amid escalating tensions between the world’s two largest economies throughout the year. The latest flare-up occurred earlier this month, with Beijing imposing export controls and Washington threatening to ban software-powered exports to China.
In recent days, the U.S. has outlined key areas it hopes to address in negotiations, including restricting the flow of fentanyl into the U.S. and the divestiture of TikTok from its Beijing-based parent company, ByteDance. Other focal points for discussion include tariffs, technology restrictions, and rare earth minerals.
While Beijing has been cautious about the likelihood of reaching an agreement, signs of a potential thaw appeared when China purchased its first shipment of U.S. soybeans in several months, according to a Reuters report on Wednesday.
Xi is attending South Korea for his first state visit in 11 years, from Thursday to Saturday, to participate in the APEC Economic Leaders’ Meeting in Gyeongju.
Investors are watching the developments closely, as the ongoing U.S.-China trade war has created uncertainty in global markets. Optimism over the possibility of a trade deal helped push global markets higher at the start of the week.
Stay tuned for further updates from Busan as the world awaits the outcome of this crucial meeting.
https://www.cnbc.com/2025/10/30/trump-and-xi-land-busan-meeting-trade-and-tariffs-.html
