Chinese President Xi Jinping and U.S. President Donald Trump are set to meet in Busan, South Korea, on October 30 to discuss bilateral relations and global issues of mutual concern, China’s Ministry of Foreign Affairs announced on Wednesday.
The high-stakes meeting comes amid renewed trade tensions between the two countries.
Earlier this week, Trump announced plans to impose an additional 100 per cent tariff on Chinese imports starting November 1, in retaliation for Beijing’s proposed export controls on rare earth minerals.
The new duties will raise the total tariff rate on Chinese goods to 130 per cent.
Trump also said his administration will introduce export restrictions on critical software from the same date but suggested he may reconsider the tariffs if China withdraws its controls.
The Busan meeting is expected to focus on de-escalating the growing economic standoff.
