U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to hold talks in South Korea on Thursday morning, aiming to restore a fragile truce in the ongoing trade war between the world’s two largest economies.
The meeting, the first between the two leaders since Trump returned to office in January, is set to begin at 11 a.m. local time (0200 GMT) in the southern port city of Busan, concluding the U.S. president’s whirlwind tour of Asia.
Trump has expressed optimism about reaching an agreement with Xi during the summit, which is taking place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, following a breakthrough in trade negotiations with South Korea on Wednesday.
However, analysts note that tensions remain high as both countries are increasingly willing to play hardball on economic and geopolitical issues — a dynamic some observers describe as a “new Cold War.” The trade war flared up again this month after China proposed stricter export controls on rare-earth minerals, crucial for high-tech industries.
Trump has vowed to retaliate with 100% tariffs on Chinese exports and other measures, including potential restrictions on products made using U.S. software, moves that could significantly impact the global economy.
Shortly before arriving in Busan, Trump posted on Truth Social, “THE G2 WILL BE CONVENING SHORTLY,” and also announced that the U.S. would increase nuclear weapons testing, citing concerns over China’s
