A recent truce in the US-China trade war appears to be over, as President Donald Trump and President Xi Jinping prepare to meet amidst resumed hostilities.
The two leaders will talk on Thursday in South Korea during the APEC summit. From Tokyo, Trump was upbeat, saying the “big meeting” is “going to work out very well.”
The calm was shattered by a series of escalations. China imposed tight export controls on rare earths. The US answered with a 100% tariff threat and new port fees on Chinese ships.
Beijing, in turn, has launched its own wave of mutual countermeasures, raising the stakes for the upcoming talks.
Despite this, Trump predicted a “fantastic meeting,” adding, “It’s gonna be great for everybody.”
Trump’s broader Asia trip has centered on trade. He spent the earlier part of his visit in Tokyo, where he met with Japanese business leaders and Prime Minister Sanae Takaichi, and also spoke to US troops aboard an aircraft carrier.
