Despite a serious new flare-up in US-China trade tensions, President Donald Trump is predicting a positive outcome for his upcoming talks with President Xi Jinping. “It’s going to work out very well,” Trump said confidently from Tokyo.
The “big meeting” is set for Thursday in South Korea, where both leaders are attending the Asia Pacific Economic Cooperation (APEC) summit. Trump described the upcoming talks as “fantastic.”
The backdrop is fraught with new conflict. The US has threatened 100% tariffs on Chinese goods from November 1. This was in retaliation for Beijing’s decision to control rare earth exports, a move that hits US tech and defense industries.
The dispute has spiraled, with the US adding port fees on Chinese ships and China responding with its own set of countermeasures. This ends a brief period of calm in the long-running trade war.
“That’s a big meeting,” Trump stated, emphasizing its importance. He believes the outcome will be “great for everybody,” suggesting he is aiming for a breakthrough in the stalled trade negotiations.