Trump says he expects ‘great deal’ with China at summit with Xi

Donald Trump, the president of the United States, says he anticipates a “great deal” with China at his high-stakes meeting with Xi Jinping.

Trump stated in a rambling and broad speech on Wednesday as he addressed the Asia-Pacific Economic Cooperation (APEC) summit, adding that the anticipated trade agreement would benefit both nations and be “something very exciting for everyone.”

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“That’s really a fantastic outcome,” Trump addressed a business luncheon on the sidelines of the APEC gathering in Gyeongju, saying, “It’s better than fighting and going through all kinds of problems.”

There is no justification for it.

In their first face-to-face meeting since the US president launched his second trade war with China on Thursday, Trump and Xi are scheduled to meet in the coastal city of Busan, which is located 85 kilometers south of Gyeongju.

Trump last met Xi in 2019 on the eve of the Group of 20 summit in Osaka, Japan, after making stops in Malaysia and Japan.

Trump declined to disclose the details of the anticipated agreement.

Trump, however, stated earlier on Wednesday on Air Force One that he anticipated the agreement would “solve a lot of problems” and would include lower tariffs on Chinese goods in exchange for Beijing to stop producing fentanyl.

Trump’s claim that Beijing is failing to halt the flow of chemicals used to produce the deadly opioid has led to the imposition of a 20% tariff on Chinese goods.

Prior to the signing of the deal, US officials have stated that Beijing has agreed to purchase more US agricultural products in addition to the deferral of China’s planned export controls on rare earth minerals and an additional 100 percent US tariff on Chinese goods.

Trump added that he would “very soon” conclude a trade deal with South Korea in his luncheon address.

Due to disagreements over the specifics of a $ 350 billion investment package Seoul has pledged in exchange for lower tariffs, South Korea and the US, who are close treaty allies, have been battling it out for months.

Trump also praised the Hanwha Philly Shipyard’s expansion, which was led by Korea.

Hanwha Ocean, a South Korean shipbuilder, announced in August that it would invest $70 million to expand the shipyard, which it purchased last year.