Bessent says Trump will meet Xi for talks in South Korea
U.S. President Donald Trump will meet Chinese President Xi Jinping for talks in South Korea, Treasury Secretary Scott Bessent said Monday, days after Trump threatened to cancel the meeting, criticizing China's move to impose export controls on rare earths, Yonhap reports.
Bessent made the remarks in a Fox Business interview as Trump plans to visit South Korea later this month. Korea is set to host the Asia-Pacific Economic Cooperation (APEC) summit in the southeastern city of Gyeongju from Oct. 31-Nov. 1.
"He will be meeting with Party Chair Xi in Korea. I believe that meeting will still be on," Bessent said.
"There has been substantial communication over the weekend as opposed to right out of the blocks when the Chinese did not respond to any of our inquiries," he added.
On Friday, Trump said that there appears to be "no reason" to meet Xi, as he criticized Beijing for taking an "extraordinarily aggressive position" on trade.
Later in the day, Trump struck a more cautious tone, saying that he will be in South Korea "regardless," and that he would assume that the two leaders might have a meeting.
Trump took issue with China's export control measure as the United States has been sensitive to China's restrictions on rare earths -- critical elements used in the production of electronic devices, weapons systems and other consumer tech products.
Earlier, it was reported that major stock markets across the Asia-Pacific region fell sharply Monday amid fears of a renewed trade war between the world’s two largest economies, following U.S. President Donald Trump’s threat to impose new triple-digit tariffs on Chinese imports.