US President Donald Trump and Chinese chief Xi Jinping are poised to maintain a high-stakes summit in South Korea on Thursday, because the world’s two largest economies battle to resolve a protracted commerce battle that has upended international financial system.
Tensions have flared once more in current weeks over Washington’s expansion of export controls and China’s tightening of rare earth export curbs. The tit-for-tat escalation prompted Trump to vow new 100% tariffs on Chinese items beginning November 1.
But the United States and China made obvious progress over the weekend after the newest spherical of commerce talks in Malaysia. Their commerce deal framework set the stage for a sit-down between Trump and Xi on the sidelines of the Asia-Pacific Economic Cooperation CEO summit in South Korea. It would be the first in-person assembly between the 2 leaders because the American president returned to the White House in January. He final met Xi in 2019, throughout the G20 summit in Osaka, Japan.
Much is at stake. The November 10 deadline for a commerce truce is looming, lest tariffs surge once more. What ostensibly began as a warfare towards the flow of the deadly opioid fentanyl has now ballooned into a far broader conflict – spanning uncommon earths, American soybean exports, know-how controls and China’s vitality dealings with Russia.
Here are the problems seemingly to dominate the agenda: