Copyright kyodonews
GYEONGJU, South Korea - U.S. President Donald Trump and Chinese President Xi Jinping on Thursday began their first in-person talks since the American leader returned to the White House, with all eyes on whether they can reach a trade deal to defuse tensions. At the outset of the meeting in Busan, Trump said he expects to have a "fantastic relationship for a long period of time" with Xi, adding, "I think we've already agreed to a lot of things, and we'll agree to some more right now." Xi said China and the United States "should be partners and friends" even though it is "normal for the two leading economies of the world to have frictions now and then." The Chinese leader said he always believes China's development "goes hand in hand" with Trump's vision of making America great again. "Our two countries are fully able to help each other succeed and prosper together," Xi said. The meeting took place in the port city before Trump wraps up his three-nation Asia trip and as Xi arrived in South Korea to attend an Asia-Pacific Economic Cooperation forum summit in Gyeongju in the country's southeast. Trade tensions between Washington and Beijing recently flared up over China's new export restrictions on rare earth elements essential for high-tech manufacturing. Trump has also complained about China's suspension of U.S. soybean imports over the past several months, urging Beijing to resume them. To pave the way for the summit between the two leaders, high-level officials struck a framework agreement in Malaysia last weekend, with U.S. Treasury Secretary Scott Bessent suggesting an additional 100 percent U.S. tariff Trump had threatened to impose on Chinese imports starting Saturday would be averted. Bessent also said he expects Beijing to delay the implementation of its rare earth export controls for a year. On Wednesday, Trump said he is likely to reduce his administration's 20 percent additional tariff on Chinese goods imposed earlier this year over fentanyl, the leading cause of overdose deaths in the United States. Trump has repeatedly accused Beijing of taking insufficient steps to stem the flow of fentanyl into the United States. Precursor chemicals made in China are reportedly used to illicitly produce the powerful opioid. The United States and China slapped tit-for-tat tariffs on each other's goods earlier this year. Still, they agreed in May to temporarily reduce them from triple-digit rates, and later extended the pause through Nov. 10. The Treasury chief has also hinted that the current 90-day trade truce is likely to be extended. In addition to trade and economy, the two leaders may also discuss Russia's war against Ukraine. Trump has taken issue with China's continued purchases of Russian oil, saying the proceeds help support Moscow's war effort. As for Taiwan, a self-ruled island that China claims as part of its territory, Trump said Wednesday he was unsure whether he would speak about it with Xi. The U.S. leader has rarely discussed the democratic island that Washington supports militarily from a security perspective.
