Trump and Xi meet in South Korea amid hopes of trade-war truce

Donald Trump touted his close relationship with China’s Xi Jinping as the two leaders met for their high stakes summit in South Korea to discuss a possible trade-war truce.

The meeting in the southern port city of Busan, the first between the leaders since the US president returned to office this year, caps off Mr Trump’s whirlwind trip around Asia.

The two leaders shook hands in an airport building where Xi’s presidential jet landed minutes earlier. He watched in ominous silence as Mr Trump briefly addressed the media.

“We’re going to have a very successful meeting I have no doubt,” the US president said.

“But he’s a very tough negotiator, that’s not good.”

The run-up was marked by chaos as two sets of officials appeared to squabble over who was to stand where in the airport building.

Mr Trump added: “We’ll have a great understanding, we’ve always had a great relationship.”

As the pair sat down with their delegations to begin talks, Xi told Mr Trump via a translator it was normal for the two leading economies of the world to have frictions now and then.

“A few days ago...our two economic and trade teams reached basic consensus on addressing our respective major concerns and made encouraging progress,” Xi said.

“I am ready to continue working with you to build a solid foundation for China-US relations.”

Mr Trump has repeatedly expressed optimism about reaching an agreement with Xi during the talks, taking place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, buoyed by a breakthrough in trade talks with South Korea on Wednesday.

But with both countries increasingly willing to play hardball over areas of economic and geopolitical competition, many questions remain about how long any trade detente may last.

The trade war reignited this month after Beijing announced heavier restrictions on the export of critical minerals.

Mr Trump vowed to retaliate with additional 100pc tariffs on Chinese exports, and with other steps including potential curbs on exports to China made with US software – moves that could have upended the global economy.

At the weekend, negotiators from both sides announced they were close to a deal.

“THE G2 WILL BE CONVENING SHORTLY,” Trump posted on Truth Social shortly before landing in Busan.

The White House has signalled it hopes the summit will be the first of several between Mr Trump and Xi in the coming year, including possible leader visits to each country, indicating a protracted negotiation process.

Mr Trump said on Wednesday he expects to reduce US tariffs on Chinese goods in exchange for Beijing’s commitment to curb the flow of precursor chemicals to make fentanyl, a deadly synthetic opioid that is the leading cause of American overdose deaths.

The US president has also said he might sign a final deal with Xi on TikTok, which faces a ban in America unless its Chinese owners divest its US operations.

Beijing is willing to work together for “positive results”, foreign ministry spokesperson Guo Jiakun said on Wednesday.

[Source: Daily Telegraph]