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| In this file photo, US President Trump and China's President Xi Jinping shake hands. ( Source: Reuters) |
US President Donald Trump sounded upbeat on Wednesday ahead of a crucial meeting with Chinese leader Xi Jinping, saying he expected a “great meeting” that could finally ease trade tensions between the world’s two biggest economies.
Trump, who also revealed that a deal with South Korea was “pretty much” done, is hoping to wrap up his Asia tour with a bang. If he and Xi strike a truce in their long-running trade war during Thursday’s talks in Busan, it would mark a dramatic finale to a trip full of praise, luxury, and symbolic gifts.
However, a possible meeting with North Korean leader Kim Jong Un looks unlikely, with Trump saying the “timing” didn’t work out.
Markets Watch Closely as Trump, Xi Prepare to Talk
Beijing confirmed the Trump-Xi meeting will take place in Busan, while Trump told reporters he believes “a lot of problems are going to be solved.”
Global markets are watching closely to see if the two leaders can end a trade dispute that has disrupted supply chains and rattled businesses worldwide.
Negotiators from both countries have already reached a “tentative framework”, paving the way for Trump and Xi’s first in-person meeting since Trump began his second term.
“We are willing to work together with the US side to ensure this meeting brings positive outcomes,” Chinese foreign ministry spokesman Guo Jiakun said.
Trump hinted that the deal may include a 20% tariff cut on Chinese goods linked to fentanyl, a deadly drug that has claimed tens of thousands of American lives.
Other sticking points remain — from soybean imports and rare earth exports to AI-related semiconductors and the fate of TikTok.
Golden Touch: Trump’s Asia Tour Turns Into a Gift Parade
Trump’s three-nation Asia tour — covering Malaysia, Japan, and South Korea — has been marked by lavish welcomes and extravagant gifts.
In Japan, new Prime Minister Sanae Takaichi said she would nominate Trump for the Nobel Peace Prize. She even gifted him a putter once owned by the late Shinzo Abe, one of Trump’s closest allies, along with a gold-plated golf ball.
When Trump landed in South Korea, he was greeted with a military band playing his campaign anthem, “Y.M.C.A.” President Lee Jae Myung, wearing a golden tie, presented him with the nation’s highest honor and a replica of an ancient golden crown.
“It’s a great honor,” Trump said with a smile. “I’d like to wear it right now.”
Even the APEC summit dinner menu sparkled — featuring a golden citrus dessert and a gold-adorned brownie.
Trade Deals and Investments Take Center Stage
In July, Trump announced that Washington had agreed to lower tariffs on South Korean imports to 15%, in exchange for a $350-billion investment pledge from Seoul.
Auto tariffs had remained unresolved, but Trump said at the APEC dinner that the deal was now “reached” — before softening his words to “pretty much finalized.”
South Korean presidential aide Kim Yong-beom later confirmed that both sides had agreed on the details. The investment package includes $200 billion in cash and $150 billion in shipbuilding cooperation.
Tensions Rise as North Korea Tests Missiles
Just hours before Trump arrived, North Korea fired a series of sea-to-surface cruise missiles, calling it a show of strength against its “enemies.”
Trump had invited Kim Jong Un to meet during his visit, but said the encounter would have to wait, adding that he hopes to meet the North Korean leader “in the not-too-distant future.”
He also promised to help “straighten out” tensions between North and South Korea, who technically remain at war.
The last Trump-Kim meeting took place in 2019 at the Demilitarized Zone (DMZ), the heavily fortified border dividing the two Koreas. Since then, Kim has gained fresh backing from Russia, reportedly sending thousands of North Korean troops to support Moscow’s forces.
Stanford University professor Gi-Wook Shin, an expert on Korea, said Kim is likely trying to “maximize his leverage with Trump.”
“Still, a future meeting remains possible,” Shin added. “Kim likely sees Trump as his best chance to secure the deal he wants — including recognition as a nuclear state.”
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