Trump meets Xi in South Korea to discuss trade war truce

U.S. President Donald Trump met with China's leader Xi Jinping at a South Korean air base on Thursday, aiming to discuss a potential truce in the ongoing trade war between the world's two largest economies, according to Reuters.

The meeting, held in the southern port city of Busan, marked the first time the two leaders had met since Trump returned to office in January, and concluded the U.S. president's whirlwind tour of Asia.

"We are going to have a very successful meeting, I have no doubt. But he is a very tough negotiator," Trump said as he shook hands with Xi, who remained largely expressionless throughout the interaction.

Trump had repeatedly expressed optimism about the potential for an agreement during the talks, which were taking place on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, buoyed by a breakthrough in trade discussions with South Korea on Wednesday.

However, with both nations increasingly adopting a hardline stance over economic and geopolitical issues – which analysts have labelled as a new Cold War – it remains uncertain how long any potential trade detente might last.

The trade conflict flared up again this month after Beijing proposed sweeping restrictions on exports of rare-earth minerals essential for high-tech applications, a sector China largely controls. In response, Trump vowed to impose 100% tariffs on Chinese exports, along with other measures such as possible restrictions on Chinese goods containing U.S. software—steps that could have significant global economic repercussions.

"THE G2 WILL BE CONVENING SHORTLY," Trump posted on Truth Social shortly before his arrival in Busan, ahead of his meeting with Xi at Gimhae Airport's South Korean air force base.

In another post, Trump noted that the U.S. would intensify its nuclear weapons testing, citing China's growing nuclear arsenal.