Tump to meet China's Xi for the first time in second term as trade deal remains elusive

U.S. President Donald Trump volition conscionable Chinese President Xi Jinping adjacent week arsenic portion of his travel to Asia, arsenic the world's apical 2 economies question to dial down tensions successful hunt for a commercialized woody that has truthful acold been elusive.

White House property caput Karoline Leavitt told reporters Thursday that Trump volition conscionable his Chinese counterpart connected Oct. 30 connected the sidelines of the Asia-Pacific Economic Cooperation, oregon APEC, Summit.

"I deliberation we are going to travel retired precise good and everyone's going to beryllium precise happy," Trump said aboriginal connected Thursday about his panned meeting with Xi.

South Korean statesmanlike information advisor Wi Sung-lac confirmed Thursday the authorities visits by Trump and Xi during the APEC summit, though China has not officially made a connection astir it.

It volition beryllium the archetypal in-person gathering betwixt the 2 heads of states since Trump returned to the bureau successful January. The leaders, who person had astatine slightest 2 telephone calls this year, past met successful 2019 during Trump's archetypal statesmanlike term.

The high-stakes gathering comes arsenic a delicate commercialized detente betwixt the economical superpowers nears its expiration connected Nov. 10 if they neglect to hold connected different extension. Trump has besides acceptable Nov. 1 arsenic the deadline for further 100% tariffs announced earlier this month.

The commercialized truce has been threatened successful caller weeks by a caller question of restrictive measures, ranging from hefty larboard fees connected each other's vessels, expanded export controls connected exertion and uncommon world minerals.

The 2 economical powers person besides tussled implicit lingering issues including tariffs, agricultural purchases, fentanyl flows, and geopolitical flashpoints specified arsenic Taiwan.

"This volition beryllium a high-risk, high-reward leaders' meeting," said Han Shen Lin, China manager of planetary consultancy steadfast The Asia Group. "Both sides volition effort to deed the 'reset' button" for a narration rattled by the latest circular of tit-for-tat restrictions, helium added, portion avoiding "any large header concession."

The 2 countries whitethorn hold to resume the ongoing commercialized talks, alternatively than a sweeping commercialized deal, Han said, stressing that deeper structural disputes person not been resolved and "may ne'er be."

Trump told reporters connected Air Force One connected Sunday that uncommon earths, fentanyl, soybeans and Taiwan were among U.S.' top issues for discussion with China. A elder Taiwanese overseas affairs authoritative said Tuesday that Taipei is successful adjacent contact with Washington and volition show intimately the Trump-Xi meeting.

In a property briefing connected China's economical improvement program connected Friday, Commerce Minister Wang Wentao stressed that the U.S. and China could inactive find ways to speech and enactment together, alternatively than descent toward a decoupling.

China's Ministry of Foreign Affairs and the Chinese Embassy successful the U.S. did not instantly respond to a petition for confirmation connected Xi's travel to South Korea.

Chinese commerce ministry said Thursday that a delegation led by Chinese Vice Premier He Lifeng, besides the country's apical commercialized negotiator, volition conscionable U.S. Treasury Secretary Scott Bessent successful Malaysia this week to sermon commercialized and economical issues.

Tensions betwixt Washington and Beijing person flared up again successful caller weeks, with some sides seeking to amass leverage up of captious negotiations.

Yet the confirmation of a Trump-Xi gathering signals an intent to de-escalate tensions and enactment negotiations backmost connected track, analysts said.

The information that the gathering volition hap suggests China volition perpetrate to making definite concessions, specified arsenic cultivation acquisition oregon concern successful America, and prioritize uncommon world support for the U.S., said Dan Wang, China manager astatine governmental consultancy Eurasia Group, portion Washington could see relaxing tech curbs connected China.

Beijing successful aboriginal October dramatically expanded its restrictions connected exports of uncommon earth minerals and related technologies, and Trump retaliated with threats of an additional 100% tariffs connected Chinese goods. Bessent blasted China's determination arsenic an effort astatine weakening the planetary system and wanting to "pull everyone other down with them."

The Trump medication has besides been considering limiting exports of ample swaths of products built with American software to China, and reportedly plans to motorboat a commercialized probe into China's nonaccomplishment to uphold the presumption of a commercialized woody signed successful Trump's archetypal term.

New York Times reported Thursday that the probe could beryllium announced arsenic soon arsenic Friday, paving the way for much tariffs connected Chinese goods.

Earlier this month, the U.S. president had floated the anticipation of scrapping his gathering with Xi amid choler implicit Beijing's widened export controls connected uncommon world minerals. But successful caller days Trump has softened his rhetoric, touting his "great relationship" with Xi, saying helium expected the talks to present a "good deal" connected trade.

The president said Wednesday that helium has a "long" gathering scheduled with Xi during the upcoming travel to South Korea, wherever helium expects to reach a woody with the Chinese person implicit soybean purchases and limits connected atomic weapons.

Facing sweeping U.S. tech restrictions successful caller years, China has pledged to deepen its self-reliance connected exertion implicit the coming 5 years, the ruling Communist Party said successful a caller economical blueprint released Thursday.

In the property briefing Friday, Chinese leaders pointed to the analyzable outer challenges, underscoring Beijing's thrust to trim reliance connected the U.S. portion advancing its ain technological ambitions.

While some sides clasp important leverage, Beijing appears "more consenting to locomotion distant from a woody that does not fulfill its objectives," said Gabriel Wildau, managing manager astatine advisory steadfast Teneo, portion Trump mightiness privation to debar enforcing the 100% tariff threat.

Despite the caller escalation, the upcoming Trump-Xi gathering volition beryllium cardinal to restoring "a measurement of calm to the bilateral relations" and acceptable the signifier for a last negotiating propulsion toward a commercialized woody successful aboriginal 2026, Wildau added.

Trump is scheduled to question to Tokyo connected Oct. 27 for a gathering with Sanae Takaichi, Japan's caller premier minister, earlier heading to South Korea.

— CNBC's Evelyn Cheng contributed to this report.