Trump and Xi to hold high-stakes meeting in South Korea

Published: Thursday, October 30, 2025 at 12:46 am

Trump and Xi to Meet in South Korea Amidst Trade Deal Hopes

Washington - President Donald Trump and Chinese President Xi Jinping are scheduled to meet on Thursday to discuss a potential trade deal. The meeting, set for 11 a.m. local time, or 10 p.m. ET Wednesday, comes as both leaders seek a mutually beneficial agreement.

Treasury Secretary Scott Bessent indicated that the threat of a 100% tariff on Chinese goods, previously threatened by President Trump, is "effectively off the table" for now. This tariff was proposed in response to China's increased export controls on rare earth minerals and magnets, crucial for manufacturing in key technology sectors.

President Trump expressed optimism about reaching a deal, stating, "We're going to be, I hope, making a deal... I think it will be a good deal for both." He also suggested that he might lower existing tariffs on Chinese imports, citing cooperation from China on fentanyl trafficking.

The meeting's agenda includes a potential deal placing TikTok under majority U.S. ownership, with Chinese-owned ByteDance possibly retaining a minority stake. Trade talks between U.S. and Chinese officials have been ongoing for months leading up to this meeting.

The last time the two leaders met in person was in 2019. The upcoming meeting is the final event on President Trump's five-day Asia tour, focused on strengthening economic ties and trade deals in the South Pacific.

BNN's Perspective:

The meeting between President Trump and President Xi presents a critical opportunity to stabilize the U.S.-China trade relationship. While the removal of the 100% tariff threat is a positive development, the details of any potential deal, particularly regarding TikTok and rare earth minerals, will be crucial. A balanced agreement that addresses both U.S. economic interests and Chinese concerns is essential for global economic stability.

Keywords: Trump, Xi Jinping, trade deal, tariffs, China, rare earth minerals, TikTok, trade talks, South Korea, economy, U.S.-China relations

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