President Donald Trump and Chinese President Xi Jinping are set to meet in South Korea on Thursday morning, where they are expected to discuss important issues, particularly related to fentanyl and trade. The meeting is scheduled for 11 a.m. local time.
Ahead of their talks, reports suggest that Xi will commit to implementing stricter export controls on the chemicals used to produce fentanyl. In exchange, Trump is likely to agree to reduce the current 20% tariff on fentanyl-related Chinese goods by up to half. This move could signify a step toward addressing the ongoing opioid crisis in the United States.
Trump has emphasized the importance of fentanyl in his discussions with Xi, stating that it will be a top priority during their meeting. The U.S. and China have been at odds over various issues, especially since the trade war began during Trump’s first term.
The meeting is expected to last three to four hours, according to Trump, who expressed optimism about the outcome. He believes the discussions will yield satisfactory results for both nations.
While fentanyl is a primary focus, the leaders may also touch on other significant topics. One key issue is the trade of soybeans. China has largely stopped buying American soybeans due to high tariffs, which has hurt U.S. farmers. Recently, a Chinese company purchased about 180,000 metric tons of soybeans from the U.S., but some lawmakers remain skeptical that this will lead to a broader reopening of the market.
Another topic on the table is rare earth minerals. China controls about 90% of the global supply of these critical materials, which are essential for many high-tech products. Trump has been working to diversify U.S. supply chains through trade agreements with other countries, but China still holds a significant advantage in this area.
Additionally, there are calls from U.S. lawmakers for Trump to address the issue of American citizens detained in China. They urge him to negotiate for their release, highlighting several cases that involve individuals accused of various offenses.
Finally, the leaders might revisit the 2020 “Phase One” trade deal, which aimed to boost Chinese purchases of U.S. goods. However, China has fallen short of its commitments, prompting criticism from Trump and his administration.
As the meeting approaches, many are watching closely to see how these discussions will unfold and what impact they may have on U.S.-China relations.
