Despite the US threatening 100% tariffs on Chinese goods, President Donald Trump remains optimistic about his upcoming meeting with China’s Xi Jinping. “I think it’s going to work out very well,” Trump said on Tuesday from Tokyo.
The President confirmed he will meet his Chinese counterpart on Thursday in South Korea. The two will be attending the Asia Pacific Economic Cooperation (APEC) summit, making it a key event on Trump’s tour of Asia.
The backdrop for this “big meeting” is increasingly tense. The US tariff threat, set for November 1, was a direct response to China’s move to control exports of rare earths. This escalation has put global markets on edge.
This new flare-up, which also includes US port fees on Chinese ships and subsequent countermeasures from Beijing, has ended a period of relative truce between the world’s two largest economies.
“We are gonna be (having) a fantastic meeting,” Trump said, doubling down on his confidence. He stressed the importance of the talks, suggesting a positive outcome would be “great for everybody.”