File image of U.S. President Donald Trump, left, with Chinese President Xi Jinping
| Photo Credit:
AP
U.S. President Donald Trump and Chinese President Xi Jinping are set to meet in South Korea on Thursday (October 30, 2025) to hold talks on dialling down their hugely damaging trade war.
Mr. Trump said on Wednesday (October 29, 2025) that he expected a “lot of problems” to be solved with Mr. Xi. The U.S. leader said he expected their first face-to-face talks of his second term to result in the United States lowering tariffs imposed on China in relation to fentanyl.
Read more: Trump expects ‘great meeting’ with Xi in South Korea
Chinese stocks will be in the spotlight ahead of the meeting, with investors cautiously optimistic of a trade war truce that may help sustain the bullish sentiment.
The latest tit-for-tat escalations erupted earlier this month as Mr. Trump unveiled additional levies of 100% on China’s U.S.-bound exports, along with new export controls on critical software by November 1, in a reprisal against China curbing its critical rare earth exports. Mr. Trump said on Wednesday (October 29, 2025) he expects to reduce U.S. tariffs on Chinese goods in exchange for Beijing’s commitment to curb exports of fentanyl precursor chemicals.
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