Xi, Trump to Meet in South Korea Amid Hopes of Ending Trade War

China on Wednesday confirmed that President Xi Jinping will meet US President Donald Trump in South Korea on Thursday, marking a long-anticipated encounter that investors worldwide hope will cool months of economic tension.

A Chinese Foreign Ministry spokesperson said the two leaders would hold “in-depth communications on strategic and long-term issues” in the port city of Busan, though did not directly reference the expected trade deal.

“The two sides are willing to work together to promote positive results and provide new impetus for stable China-US relations,” spokesperson Guo Jiakun said.

Speaking aboard Air Force One earlier, Trump expressed optimism, saying both sides were ready to achieve “a good deal” that benefits their nations.

Global markets have steadied in anticipation of the meeting, following renewed friction over rare earth export controls, high-end chips, fentanyl, and soybean trade.

In a symbolic gesture ahead of the talks, China’s state-owned COFCO purchased three US soybean cargoes — its first since the latest harvest — signaling goodwill and a possible thaw in relations.

Xi will attend the Asia-Pacific Economic Cooperation (APEC) meeting and pay a state visit to South Korea from Thursday to Saturday, while Trump will skip the summit.