Trump to Meet with Xi Ahead of APEC Summit in South Korea

Strategic Insights -

US President Donald Trump is scheduled to meet with Chinese President Xi Jinping in South Korea on October 30, ahead of the Asia-Pacific Economic Cooperation (APEC) summit, which will be held in Gyeongju from October 31 to November 1. The meeting will take place amidst escalating trade tensions between the two superpowers. Trump has imposed a 30 percent tariff on Chinese imports into the US and threatened higher levies if a deal is not struck. He will also push Xi to stop Chinese companies from purchasing Russian oil, following the US leader's imposition of sanctions on Moscow.

Key Takeaways:

  • Trump is scheduled to participate in a bilateral meeting with Xi in South Korea on October 30, before the APEC summit.
  • The meeting will take place amidst escalating trade tensions between the US and China, with the US imposing a 30 percent tariff on Chinese imports and threatening higher levies.
  • Trump will also push Xi to stop Chinese companies from purchasing Russian oil, following the US leader's imposition of sanctions on Moscow.
  • The US leader will participate in a bilateral meeting with the prime minister of Malaysia on Sunday and then attend the ASEAN leaders' working dinner.
  • Trump will then travel to Tokyo on Monday to attend a bilateral meeting with Japan's new Prime Minister Sanae Takaichi.
  • The US leader will deliver a keynote address at the APEC CEO luncheon and attend the leaders' working dinner in Busan on Wednesday.
  • Korean government officials have confirmed that the meeting between Trump and Xi will take place in Gyeongju, where the APEC summit is being hosted.
  • South Korean President Lee Jae Myung plans to hold meetings with Trump and Xi separately, aiming to build consensus for peace, prosperity, and stability in the region.

Statistics:

  • 30 percent: The tariff imposed by Trump on Chinese imports into the US.
  • $350bn: The investment pledge by South Korea as part of a deal to lower tariffs on its exports to the US.
  • 21: The number of economies located around the Pacific Rim that are part of the Asia-Pacific Economic Cooperation (APEC) forum.
  • 2: The two largest oil firms in Russia, Rosneft and Lukoil, targeted by the US Treasury Department's sanctions package.

Sources:

  • Al Jazeera: "Trump hits Russia's oil giants with sanctions, EU bans Russian LNG"
  • White House Press Secretary Karoline Leavitt
  • The Korea Economic Daily: "Korean government officials confirm Trump-Xi meeting will take place in Gyeongju"