Summary
President Donald Trump plans to meet Chinese President Xi Jinping in South Korea later this month, despite recent trade tensions between the U.S. and China. U.S. Treasury Secretary Scott Bessent confirmed that communications between both countries have improved, making the meeting likely to proceed. However, disputes over tariffs and rare earth exports continue to affect their relationship.
Key Facts
- President Trump plans to meet President Xi Jinping in South Korea in late October.
- The meeting is expected to take place at the Asia-Pacific Economic Cooperation (APEC) forum.
- Recent tensions arose after China expanded export controls on rare earth minerals.
- President Trump responded by announcing a 100% tariff on Chinese goods, set for November 1.
- U.S. Treasury Secretary Scott Bessent stated that communications between the U.S. and China have improved.
- Bessent hopes the 100% tariff can be avoided through negotiations.
- China has a significant role in the production of rare earth minerals, crucial for technology manufacturing.
- China has implemented new export restrictions, requiring approval for the export of products containing Chinese rare earths.
