Name: Trump to meet Xi in Busan for pivotal talks on trade & global economy
Uploaded: 2025-10-29T17:28:03.114Z
Duration: 1 min 53 s
Description: U.S. and Chinese leaders are expected to sign a trade deal in their first meeting since 2019.

U.S. and Chinese leaders are expected to sign a trade deal in their first meeting since 2019.

Beijing

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

Global Tariffs

US President Donald Trump received a ceremonial welcome in South Korea, where he and President Lee Jae-myung agreed on a deal to reduce tariffs in exchange for a substantial investment package in the United States. The agreement includes $200 billion in cash investments and $150 billion in shipbuilding cooperation, with the funds to be transferred over several years. Trump also agreed to consider South Korea's request to reprocess spent nuclear fuel, a move previously rejected by Washington due to proliferation concerns.

Following these talks, Trump is scheduled to meet with Chinese leader Xi Jinping in Busan. The meeting comes amid heightened trade tensions, with China threatening export restrictions on rare earth materials and the US considering 100% tariffs. The outcome of the Trump-Xi talks is expected to have significant implications for the global economy and the future of US-China relations.

Trump to meet Xi in Busan for pivotal talks on trade & global economy

South Korea rolled out the red carpet for U.S. President Donald Trump. Gifts included a replica gold crown and a Medal of Honor for peace efforts during his first term. Trump and South Korea's President Lee Jae-myung then struck a deal to reduce tariffs in return for a major investment in the U.S. The financial investment package to the U.S. is comprised of $200 billion in cash investment and $150 billion in shipbuilding cooperation. Trump had wanted a one-off payment, which Lee said would bankrupt the country so the money will be transferred $20 billion a year. Trump also agreed to consider Lee's request to allow reprocessing of spent nuclear fuel. Washington had rejected previous requests on the grounds it would allow South Korea to rapidly develop nuclear weapons. Though Lee said the fuel is for the nuclear submarines his country is building. There was no breakthrough on Trump's desire to meet North Korean leader Kim Jong-un. Next on that schedule is Trump's meeting with China's leader Xi Jinping. The talks come at a time of escalating trade tensions with Beijing, which is threatening export restrictions on rare earth materials. In turn, Trump is threatening 100% tariffs. The outcome of the talks could have wide-ranging ramifications for the global economy and may determine the trajectory of U.S.-China relations for the foreseeable future. Jack Barton, Al Jazeera, Gyeongju.

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Trump to meet Xi in Busan for pivotal talks on trade & global economy

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