Trump, Xi Meet at Gyeongju APEC Summit

U.S. President Donald Trump will meet Chinese President Xi Jinping Thursday on the sidelines of the APEC summit in Gyeongju, hosted by South Korean President Lee Jae Myung, in a high‑stakes effort to manage the trade war and broader geopolitical tensions. Key agenda items include tariffs (with extreme 100% tariffs reportedly off the table), a possible trade deal and reciprocal state visits, U.S. demands on Chinese action against fentanyl trafficking, market access for U.S. soybeans, and disputes over rare earths and technology exports. Corporate and supply‑chain watchers warn the talks matter for global industry because China dominates processed rare earths and many pharmaceutical starting materials and because chip and energy disputes — including a Nexperia‑related chip squeeze and shifts in LNG/oil trade — could cause shortages or factory disruptions. Both sides are preparing for limited progress while laying groundwork for follow‑on visits early next year, and earlier reports that the summit would finalize a U.S. sale or divestment of TikTok's operations are not presented among the primary agenda items.