The pressing issues of rare earth mineral exports and looming tariffs will dominate a “big meeting” between President Donald Trump and President Xi Jinping. The two are set to meet on Thursday in South Korea.
Speaking from Japan, President Trump was highly optimistic, projecting that the talks “is going to work out very well” and will be “fantastic.” The meeting is set to occur on the sidelines of the Asia Pacific Economic Cooperation (APEC) summit.
This optimism contrasts sharply with the state of US-China trade relations. A recent flare-up began when Beijing imposed tight export controls on rare earths. The US responded by threatening 100% tariffs on Chinese goods starting November 1.
This tit-for-tat dispute has escalated, with the US adding port fees on Chinese ships and China launching its own countermeasures. This ends a recent lull in the ongoing economic conflict.
Trump’s Asia trip has focused squarely on trade. He appears to be counting on his personal diplomacy with Xi to de-escalate the situation, stating the meeting will be “great for everybody.”
Rare Earths and Tariffs: Trump-Xi to Meet Amid New Trade Flare-Up
