Trump says he expects ‘great deal’ with China at summit with Xi
Summary
President Donald Trump announced at the Asia-Pacific Economic Cooperation (APEC) summit that he expects to reach a significant trade deal with China. This meeting with Chinese President Xi Jinping is intended to address trade issues, including tariffs and the production of fentanyl. Trump also mentioned discussions concerning trade agreements with South Korea.Key Facts
- President Trump aims to agree on a trade deal with China at the APEC summit.
- The deal is expected to focus on reducing tariffs on Chinese goods and cutting fentanyl production.
- President Trump's meeting with Xi Jinping will be their first since the latest trade conflict began.
- Trump has imposed a 20% tariff on Chinese goods, citing issues with fentanyl chemicals.
- The anticipated agreement might defer China's export controls on rare earth minerals.
- The U.S. may impose a 100% tariff on some Chinese goods if no deal is reached.
- Trump also plans to finalize a separate trade deal with South Korea soon.
- South Korea has pledged a $350 billion investment package linked to trade discussions.
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