Trump, Xi Jinping to Meet in South Korea Amidst Escalating Trade Tensions
U.S. President Donald Trump and Chinese leader Xi Jinping are scheduled to meet today in South Korea in a high-stakes attempt to de-escalate a worsening trade conflict that is impacting the global economy.
The meeting, taking place on the sidelines of the Asia-Pacific Economic Cooperation CEO summit, follows recent escalations including expanded U.S. export controls and China’s restrictions on rare earth exports, prompting Trump to threaten new 100% tariffs on Chinese goods starting November 1. However, weekend trade talks in Malaysia reportedly yielded progress, setting the stage for the in-person discussion. This will be the first time the two leaders have met since Trump’s return to the White House in January, following their last encounter at the G20 summit in Osaka, Japan in 2019.
The trade dispute, initially focused on fentanyl, has broadened to encompass issues such as rare earths, American soybean exports, technology controls, and China’s energy relationship with Russia. The looming November 10 deadline for a trade truce adds urgency to the talks, as failure to reach an agreement could trigger a significant surge in tariffs. Global markets are closely watching the outcome, as continued trade friction could further slow economic growth. For more on the economic impact of trade wars, see resources from the World Trade Organization.
Officials have indicated that a key focus of the discussion will be finding a path to reduce trade barriers and address concerns over unfair trade practices. The United States has repeatedly accused China of intellectual property theft and market manipulation, while China has criticized U.S. tariffs as protectionist. You can find more background on U.S.-China relations from the Council on Foreign Relations and our previous coverage of US-China trade relations.
Both sides have expressed a desire to find a resolution, but significant obstacles remain, and officials say further negotiations are likely regardless of the outcome of today’s meeting.
