President Trump is in South Korea ahead of his highly anticipated meeting with China's Xi Jinping. On Wednesday, Mr. Trump finalized a trade deal with his South Korean counterparts that will lower tariffs on the country and bring new investment into U.S. industries.

Gyeongju-si

President Trump has concluded a trade deal with South Korea that includes lowered tariffs and new investments in U.S. industries. The agreement also allows South Korea to build a nuclear-powered submarine in Philadelphia, providing economic benefits to both countries. 

Attention now turns to Trump's upcoming meeting with Chinese President Xi Jinping, where topics such as rare earth minerals, soybeans, TikTok, and tariffs are expected to be discussed. The U.S. aims to secure concessions from China to avoid the imposition of 100% tariffs, while broader issues like China's stance on Russia and concerns over Taiwan may also be addressed.

What would a Trump win look like from talks with China's Xi Jinping?

President Trump is in South Korea ahead of his closely-watched meeting with China's Xi Jinping in a few hours. Today, President Trump finalized a trade deal with his South Korean counterparts that will lower tariffs on the country and bring new investment into U.S. industries. The president's trip is expected to culminate with a face-to-face meeting with the Chinese president. On Air Force One, President Trump addressed the upcoming meeting. Yeah, I'm very optimistic. I am. And I know a little bit about what's going on because, you know, we have been talking to them. We're not just walking into a meeting cold, but the relationship with China is very good. So I think we're gonna have a very good outcome for our country and for the world, actually. I think it's important for the world. For more, let's bring in CBS News senior White House and political correspondent Ed O'Keefe. Ed, we know President Trump and Xi will be discussing rare earth minerals, soybeans, TikTok. What constitutes a win for the U.S.? Getting China to bend on any of those issues and ensuring that some kind of an agreement is in place to avoid the 100% tariffs the president's prepared to put on China later in November. And certainly China would like to avoid those as well. He's been talking this up the entire week. This entire trip has been building up to this moment. He says it'll be a meeting that could last three to four hours before he flies home here to Washington. But all those issues, plus again, the details of the trade deal, whether or not China is willing to turn on Russia, China's gonna be worried about Taiwan and other concerns in that region, all of it potentially on the agenda. The president, far more optimistic, at least publicly, than the Chinese. But some of our own experts who track this stuff closely say the Chinese are quite well versed in the American positions on this, ready to go toe-to-toe with the president. What can you tell us about this trade agreement between the U.S. and South Korea? Lindsey, it's as if the president anticipated your question, because just moments before we went on the air, he was sharing details, at least from his point of view, on truth social. Perhaps the biggest takeaway and a big win for South Korea is that they're gonna be able to build a nuclear-powered submarine, the president says, in the Philadelphia shipyards where submarines have been built. So there's an American economic benefit to a South Korean military priority. The president also is saying that there's gonna be 350 billion dollars paid by South Korea to, quote, lower the tariffs charged against them by the United States. He says they're gonna be buying a lot of oil and gas. The problem is the president gets out in front of these trade announcements and says on social media or to reporters, here's what's in the deal, but we don't see the paperwork then for several more days or weeks. So we'll have to wait and see the final details. But that a deal got done at all while the president in South Korea was significant because there had been talks here in Washington in the lead-up to the Asia trip where it was thought South Korea might not get their agreement, they did. So he can come home with that one saying, again, the U.S. has cut another significant deal with a major trading partner. Okay, Ed O'Keefe, I've been enjoying watching you on The Takeout. Thank you.

President Trump will hold a bilateral meeting with Chinese President Xi Jinping. This is their first face-to-face since Mr. Trump returned to the White House. Jessi Mitchell anchors this Special Report.

Trump, Xi Jinping meet face-to-face in South Korea over trade

The Bank of Canada made a 25-basis-point cut to its key interest rate while governor Tiff Macklem suggested rates will hold where they are as long as inflation stays in the target range of two per cent.

Ottawa

Bank of Canada cuts key interest rate to 2.25%

After leaving Jamaica with widespread power outages and flooding, Melissa caused fatal flooding in Haiti that has killed 25 people and hit Cuba with a storm surge.

Port-au-Prince

Hurricane Melissa causes floods in Haiti, killing at least 25

Fentanyl production tops the agenda as the U.S. and China discuss curbing exports tied to the deadly opioid crisis.

Fentanyl crackdown central in U.S.-China talks

APEC members face economic uncertainty amid rising US-China rivalry—South Korea prepares for potential fallout from high-stakes talks.

U.S.-China trade tensions leave South Korea navigating APEC fallout

President Putin announced that the Poseidon super torpedo was successfully tested and cannot be intercepted, marking a new stage in Russia’s naval capabilities.

Moscow

Russia says its successfully tested nuclear-capable underwater drone

The Justice Department has put D.C. prosecutors on leave after they submitted a court memo describing those who attacked the Capitol on January 6, 2021 as "rioters." The filing was in a case involving Taylor Taranto, who was part of the Capitol riot and is currently facing unrelated weapons charges.

Washington

DOJ sidelines prosecutors over Jan. 6 'rioters' court filing

Sean Grayson, the former Illinois sheriff's deputy who shot and killed Sonya Massey in her home in 2024, was found guilty of second-degree murder.

Illinois

Ex-officer found guilty of murder in Sonya Massey shooting

President Donald Trump is sending America's largest aircraft carrier to the Caribbean to help stop small boats he says are transporting drugs to the U.S. Trump says the U.S. is in "armed conflict" with Venezuelan drug cartels.

U.S. masses more naval forces off coast of Venezuela

The U.S. Federal Reserve announced Wednesday that it will lower its benchmark interest rate by 0.25 percentage points in its second straight cut.

Fed lowers interest rates by 0.25 percentage points

The police operation was one of the most violent in Brazil’s recent history, with human rights organizations calling for investigations into the deaths.

Rio de Janeiro

Raid on Rio drug trafficking gang leaves at least 64 dead

Hurricane Melissa made landfall in Cuba on Wednesday after ripping through Jamaica. CBS News' Jarred Hill has more details.

Havana

Hurricane Melissa makes landfall in Cuba after slamming Jamaica

U.S. President Donald Trump landed in South Korea on Wednesday (October 29) for the final leg of his Asia trip, optimistic about striking a trade war truce with Chinese President Xi Jinping after summit talks with South Korea's Lee Jae Myung.

Busan

Trump lands in South Korea, hopes to strike deal with China's Xi

The U.S. Embassy in Mali is urging all American citizens to leave the country immediately, warning of rising terror threats and a worsening fuel crisis caused by a jihadi blockade.

Bamako

U.S. Embassy urges Americans to leave Mali immediately

Israeli planes launched strikes in Gaza on Tuesday (October 28) after Israel accused the militant group Hamas of violating a ceasefire in the Palestinian territory, marking the latest test of a fragile deal brokered earlier this month by U.S. President Donald Trump.

Jerusalem

Israel strikes Gaza after accusing Hamas of violating ceasefire

Nvidia CEO Jensen Huang said on Tuesday (October 28) that the artificial intelligence chip leader will build seven new supercomputers for the U.S. Department of Energy, and said the company has $500 billion in bookings for its AI chips.

Nvidia will build AI supercomputers for U.S. Energy Department

25 states are suing the Trump administration to stop federal food aid from being suspended amid the government shutdown. All but two of those states, Nevada and Vermont, have a democratic governor.

25 states sue Trump administration over SNAP food stamp funding freeze

A federal judge is ordering a top Border Patrol official in charge of operations in Chicago to give nightly reports to the court after agents were accused of potentially violating limits on their arrest and crowd control tactics.

Chicago

Judge admonishes ICE leader in Chicago after violations

The U.S. military struck four more alleged drug vessels on Monday, killing at least 14 people and leaving one survivor. It marks the 11th time in under two months the U.S. has carried out strikes on vessels allegedly trafficking narcotics.

Caracas

Latest U.S. strikes on alleged drug boats kill at least 14 people

Major League Baseball says it's weighing a ban on all prop betting, which is a wager on an individual player or event that isn't necessarily tied to the outcome.

Los Angeles

MLB weighing ban on all prop betting

Israeli Prime Minister Benjamin Netanyahu said he has ordered the military to carry out powerful strikes on the Gaza Strip. This comes after Israel accused Hamas of violating their fragile peace deal by returning the wrong remains of a hostage.

Middle East Conflict

Netanyahu orders strikes on Gaza over wrong hostage remains

Hurricane Melissa, a massive Category 5 storm, made landfall in Jamaica, barreling in from the Atlantic with 185 mph sustained winds, the National Hurricane Center said. CBS News meteorologist Jessica Burch has more.

Kingston

Hurricane Melissa makes landfall in Jamaica

The ASEAN bloc of Southeast Asian nations and China signed an upgrade to their free trade agreement, which includes sections on digital, the green economy and other new industries, Beijing's Commerce Ministry said.

Kuala Lumpur

Global Tariffs

China and ASEAN, hit by U.S. tariffs, sign upgraded free trade pact

President Trump met with new Japanese Prime Minister Sanae Takaichi on Tuesday and signed a trade agreement that the countries made over the summer. CBS News' Ramy Inocencio has the latest.

Tokyo

Trump touts trade deals with Japan, heaps praise on new prime minister

Argentina's president, Javier Milei's party, has won a decisive victory in Sunday's mid-term elections. The vote is seen as a support for his economic reforms and drastic austerity measures. In recent weeks, U.S. President Donald Trump had pledged a 40-billion-dollar bailout to bolster Argentina's failing economy and had endorsed Milei publicly.

Buenos Aires

Argentine markets jump after Milei party victory

Venezuela is accusing the U.S. of preparing a false flag attack as the U.S. continues to escalate its military presence in the Caribbean after carrying out multiple deadly strikes on boats the Trump administration said were carrying drugs.

Venezuela accuses U.S. of preparing false flag attack

U.S. President Donald Trump declined to meet with Canada's Prime Minister Mark Carney as trade tensions linger, while China and the United States moved toward easing tariffs.

China urges free trade amid U.S. tariff talks at ASEAN summit

Ten people are on trial in Paris for spreading false rumors about French first lady Brigitte Macron’s gender and personal life. The case, involving influencers and online figures, comes as the Macrons also pursue legal action in the U.S. over similar attacks spread by far-right media.

Paris

Brigitte Macron harassment trial opens in Paris

Millions of Americans are set to lose Supplemental Nutrition Assistance Program (SNAP) benefits and federal food aid starting Nov. 1 as the government shutdown continues, according to a post on the U.S. Department of Agriculture's website.

Millions of Americans set to lose SNAP benefits starting Nov. 1

The USS Gravely docked in Trinidad and Tobago as the Trump administration signals possible land strikes against Venezuela. CBS News national security correspondent Charlie D'Agata has more details.

Breakdown