The meeting is likely to begin at 6.30 am IST (9 AM SGT) with tariff talks likely on top of the agenda for both with the truce expiring in just days from now.
The Chinese foreign ministry confirmed the meeting, stating they will “exchange views on bilateral relations and issues of mutual interest.”
Trump, who landed Wednesday evening in South Korea, said that the meeting with his Chinese counterpart would last for about three to four hours. “Things will work out very well with Xi tomorrow,” he said.
“Bringing back Trillions of Dollars to USA! A great trip. Dealing with very smart, talented, and wonderful Leaders. Tomorrow, President Xi of China. It will be a great meeting for both!!!” Trump posted on his social media platform Truth Social.
Analysts say there’s little expectations on completely de-escalating tensions.
“The agenda is vast, but expectations centre on de-escalation rather than a comprehensive resolution, given the deep structural rivalries,” Sriparna Pathak, professor of China Studies and International Relations at OP Jindal Global University, told CNBC-TV18.
“The US and China together account for about 40% of global GDP, so their interactions ripple through trade, supply chains, and geopolitics. A productive meeting could avert a full-blown trade war that economists warn would shave 1-2% off global growth annually, while failure risks escalation, market volatility, and fragmented alliances,” Pathak said.
She added that a mutually acceptable deal could boost the S&P 500 up by 1-2% post-announcement and stabilize commodity prices.
Their meeting takes place not long after the US and Chinese delegations met in Malaysia to advance trade talks from October 24 to October 27.
Rare earths, tariff and trade discussions on the table
Tariff rates, access to China’s tightly-controlled rare earths, concerns over tech products like semiconductors are likely to dominate their “three to four” hours of talks. These were the key friction points in the last few months.
More notably, the Wednesday morning meeting will be the first between the two leaders since Trump came to power for a second term at the White House in January 2025. US-China ties have since seen new lows one after another over trade tension, starting April 2 when Trump infamously held a chart displaying reciprocal tariffs on over 90 countries.
This was followed by some of the most tumultuous days in US-China trade ties where the world woke up to a new tariff hike almost daily, upending global trade practices.
US imposed tariffs of up to 145% on China while China’s tariff on US goods rose up to 125%. The tariffs however did not come into effect, thanks to a trade truce that is nearing expiry on November 10. At present, US tariff on China stands at 30% while China imposes 10% on US imports.
For China, there’s a separate additional 100% tariff–that Trump announced in response to tightened control over rare earths this month–that comes into effect on November 1.
