US President Donald Trump has embarked on a critical trip to Asia, with a pivotal meeting with Chinese President Xi Jinping set to dominate headlines. The trip is unfolding against a backdrop of an increasingly acrimonious standoff between the world’s two largest economies over trade, technology, and raw material restrictions, dramatically raising the stakes for the summit.
Speaking to reporters en route to the continent, President Trump expressed optimism, stating he hopes his talks with the Chinese president on Thursday would yield “a complete deal.”
The two leaders plan to meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju, South Korea. This highly anticipated gathering will mark the first face-to-face interaction between the two leaders since Trump returned to the White House in January.
Comprehensive Agenda for the Summit
While the leaders have spoken at least three times this year, Trump has consistently maintained that direct talks are the best way to resolve deep-seated issues. The agenda for the meeting is broad, covering key areas of friction:
- Trade: Tariffs and export curbs are expected to be front and center.
- Agriculture: Discussions will address China’s agricultural purchases.
- Fentanyl: Trump confirmed they will discuss China’s exporting of components of the deadly opioid.
- Geopolitics: Flashpoints such as Taiwan and the ongoing war in Ukraine are also slated for discussion.
“We’ll be talking about a lot of things. I think we have a really good chance of making a very comprehensive deal,” Trump told reporters.
China Responds to Russian Sanctions by Halting Oil Purchases
The trip’s geopolitical context has been further complicated by recent US sanctions targeting Russia’s oil industry. Trump stated that he may discuss a resulting decline in Chinese purchases of Russian oil with Xi Jinping.
The reduction in purchases comes after the US blacklisted two major Russian oil companies, Rosneft PJSC and Lukoil PJSC. Following this action, Trump noted that China is “cutting back very substantially” on buying Russian oil. On Friday, Chinese state-owned companies, including Sinopec, were reported to have canceled some purchases of Russian seaborne crude.
Trump added to the pressure on Moscow’s energy revenues by claiming that India is cutting back completely on its Russian oil purchases following the imposition of sanctions.
Trump Expresses Disappointment with Putin and Cancels Meeting
While expressing hope for progress with China, President Trump was less optimistic about an immediate breakthrough with Moscow. He expressed disappointment with Vladimir Putin over the Russian president’s conduct of the war in Ukraine.
The US leader confirmed that he had recently backed off plans for a proposed meeting with Putin in Hungary. “I’m not going to be wasting my time,” Trump said of the canceled talks. “I’ve always had a great relationship with Vladimir Putin, but this has been very disappointing.”
The rising frustration has been backed by action: the US imposed its first major sanctions on Russia’s petroleum industry on Wednesday, warning that foreign financial firms dealing with Rosneft and Lukoil could be frozen out of the US finance system. The war in Ukraine is currently in its fourth year.
Progress on Trade Talks
In a positive precursor to the presidential summit, US and Chinese negotiators held trade talks in Kuala Lumpur on Saturday. A US Treasury spokesperson called the discussions “very constructive.” Teams headed by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng plan to resume negotiations on Sunday.