A new flare-up in the US-China trade war has set a tense stage for upcoming talks between President Donald Trump and President Xi Jinping.
The meeting is scheduled for Thursday in South Korea, during the APEC summit. Despite the tensions, Trump, speaking from Japan, was highly optimistic. “I think it’s going to work out very well,” he said.
The trade truce was broken when China imposed rare earth export controls. The US responded by threatening 100% tariffs on Chinese goods, starting November 1.
This escalation, which also includes new US port fees and Chinese countermeasures, has made the APEC meeting a critical one for the global economy.
Trump called it a “big meeting” and a “fantastic meeting,” insisting the result would be “great for everybody.”
The Xi meeting is the final and most crucial part of Trump’s Asia visit. His trip has also included stops to meet with Japanese Prime Minister Sanae Takaichi, speak to US troops, and mingle with business leaders, all while focusing on global trade.
