A “big meeting” between President Donald Trump and President Xi Jinping in South Korea this Thursday aims to defuse a trade time bomb set by new tariffs and export controls.
Speaking from Japan, President Trump was exceptionally confident. “I think it’s going to work out very well, actually,” he said of the APEC summit sideline talks.
The “time bomb” includes a US threat of 100% tariffs on Chinese goods, set to detonate on November 1. This was in retaliation for China’s new controls on rare earth exports.
The trade relationship has further soured with new US port fees on Chinese ships and the resulting mutual countermeasures.
Despite the escalating conflict, Trump projected success. He called the upcoming meeting “fantastic” and “great for everybody,” indicating a diplomatic off-ramp is his goal.