Trump Confident of Reaching Trade Deal with Xi
(MENAFN) US President Donald Trump on Wednesday expressed confidence in reaching a trade agreement with Chinese President Xi Jinping during their upcoming meeting in South Korea.
"I think we're going to have a deal. I think it'll be a good deal for both. And that's really a great result, you know, that's better than fighting and going through all sorts of problems, and, you know, no reason for it," Trump said while addressing CEOs at an Asia-Pacific Economic Cooperation summit.
"I think it's going to be a great deal for both. So I'll be meeting him tomorrow. A lot of people are interested. They're also interested in what we're doing, but they're interested in that. I can tell you a lot the world is watching," he added.
The meeting comes after months of diplomatic negotiations as the US-China trade war has ebbed and flowed during Trump’s nine months in office. Treasury Secretary Scott Bessent said on Sunday that the two nations reached a “very substantial” framework ahead of the summit.
Speaking to reporters aboard Air Force One en route to South Korea, Trump said Beijing would cooperate on curbing fentanyl exports and indicated he may lower tariffs in response. “I expect to be lowering that because I believe that they’re going to help us with the fentanyl situation,” he said.
Trump also confirmed that trade discussions will cover agricultural products and rare earth minerals, a strategic sector after China imposed strict new export controls earlier this month. In response, Trump threatened additional tariffs and restrictions on software by Nov. 1. China’s restrictions tighten limits on processing and manufacturing technologies and prohibit foreign collaboration without prior government approval.
China currently dominates the global market in rare earths, producing more than 90% of the world’s supply.
Bessent told media on Sunday that he expects to reach "some kind of a deferral on the rare earth export controls that the Chinese had discussed."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
