Donald Trump, Xi Jinping set for high-stakes meeting today amid renewed trade tensions

The encounter comes amid escalating trade frictions and global economic uncertainty, making it a high-stakes engagement watched closely by markets worldwide.

The last face-to-face meeting between the two leaders occurred during Trump’s first term.

According to US officials, the goal of this renewed engagement is to rebuild a fragile trade truce that has frayed in recent months, said reports.

Both sides are entering discussions with caution but cautious optimism, with Washington seeking a “substantial framework” to stabilize bilateral relations.

US Treasury Secretary Scott Bessent told the media that negotiators are working to delay China’s planned restrictions on rare-earth mineral exports, a move that could have disrupted industries globally.

In return, Beijing is expected to resume purchases of US soybeans, signaling goodwill toward American farmers.

Trade war resurfaces

Tensions escalated earlier this month after Beijing proposed sweeping restrictions on rare-earth exports, critical for high-tech and defense products.

Trump retaliated with threats of 100% tariffs on Chinese goods and restrictions on products made using US software, sparking concerns that global supply chains could be disrupted.

Despite the tough rhetoric, Trump expressed optimism about reaching a deal, hinting that tariffs could be reduced if Beijing curbs precursor chemicals used to make fentanyl, the synthetic opioid driving the US overdose crisis.

The Trump-Xi talks are also expected to cover other contentious issues, including TikTok, the Chinese-owned app facing a potential US ban unless its parent company divests American operations.

Trump indicated that a final deal on the matter could be signed directly with Xi.

The White House suggested that Thursday’s meeting could be the first of several encounters over the coming year, potentially including reciprocal visits, signaling that both sides are preparing for a prolonged negotiation process rather than a one-off summit.