Trump and Xi shake hands
Donald Trump and Xi Jinping have greeted each other and shaken hands.
Trump said Xi was a “very tough negotiator and that’s not good”.
In the comment to reporters in Busan before the meeting got under way, the US president also said: “We have a great relationship.”
Asked if he planned to sign a trade deal, Trump said: “Could be.”
The Chinese president didn’t make any comments, but said later at the negotiating table that “China and the US should be partners and friends”.
Key events
While the two leaders hold their talks, our correspondent in Busan, Justin McCurry, has pieced together what we have seen so far, following their initial greeting and then the opening exchanges once seated with their delegations.
Chinese shares climbed to a decade high as Trump and Xi began their meeting.
Investors appeared heartened by early signs of cooling tensions between the world’s top two economies after recent escalations, while also positioning defensively with a sense of deja vu that the real deal may offer far less to celebrate, Reuters reported.
The benchmark Shanghai Composite Index reversed early losses, rising as much as 0.2% to 4,025.70 in morning trading, reaching its highest since 2015, driven by hopes for de-escalation in the US-China trade dispute.
Banking, insurance and liquor sectors led gains as sentiment remained cautious.
Hong Kong’s Hang Seng Index rose 0.6% after resuming trade following a holiday on Wednesday.
Taiwan’s foreign minister has said it is “confident” in its relations with the US amid the Trump-Xi talks.
Lin Chia-lung – asked by reporters about the meeting and whether Taiwan could come up – said the government was “of course” paying attention to the talks.
Taiwan and the US had close cooperation on security and other matters, he said in Taipei.
“So we have confidence in Taiwan-US relations and have close communication channels,” Lin added, quoted by Reuters.
Taiwan’s democratically elected government rejects Beijing’s claims of sovereignty.
Since taking office this year, Trump has vacillated on his position towards Taiwan while pursuing a trade deal with Beijing. The US president says Xi Jinping has told him he will not invade while Trump is in office, but Trump has yet to approve any new US arms sales to Taipei.
Helen Davidson
Both leaders have brought a high-level entourage with them for the talks.
Xi is flanked by his foreign minister Wang Yi and senior advisor Cai Qi (a high-ranking politburo member who is essentially Xi’s chief of staff). Closest to the cameras is He Lifeng, the vice premier of China. At the far end of the table is the chair of China’s main planning agency, Zheng Shanjie, and vice-minister of foreign affairs Ma Zhaoxu.
On the US side, Trump has brought secretary of state Marco Rubio, treasury secretary Scott Bessent, trade representative Jamieson Greer, commerce secretary Howard Lutnick, US ambassador to China David Purdue and the White House chief of staff Susie Wiles.
The US will make an announcement that will be a “resounding victory” for its farmers after the Trump-Xi meeting, the US Treasury secretary posted on X on Thursday in the lead-up to the talks.
Scott Bessent said earlier this month he anticipated China would restart substantial buying of US soybeans.
America’s soybean farmers have been stuck in the middle of the trade war between the US and China, the biggest purchaser of American soybean exports, used to feed China’s pigs. Donald Trump’s tariffs prompted the country to exit the soybean market and US midwestern farmers have been waiting on a solution, as you can read in this feature from Rachel Leingang of the Guardian US.
It details how no other country comes close to purchasing as many American soybeans as China – last year, it was more than $12bn worth. This year, the country has not purchased a single dollar’s worth, cutting off the country that makes up about half of US soybean exports.
While Trump has said he intends some sort of payment to go to soybean farmers hurt by tariffs, an announcement of a specific plan is on hold while the government is shut down. He said in a recent Truth Social post that at his Xi meeting “soybeans will be a major topic of discussion”.
Just returning to the leaders’ preliminary remarks at the negotiating table, Xi listed Trump’s foreign policy achievements, including in Gaza and on the Thai-Cambodia border.
Xi said China had also been promoting peace talks.
China and the US can jointly shoulder our responsibility as major countries and work together to accomplish more great and concrete things for the good of our two countries and the whole world.
Trump was asked about nuclear testing – after his announcement earlier today that he had ordered US nuclear testing to begin immediately – but the US president did not take questions.
Helen Davidson
Trump and Xi are meeting in a tiny building on the Gimhae air base, in the coastal South Korean city of Busan.
The airport is a joint commercial and military facility, and security has been visibly ramped up around it in recent days, ahead of the arrival of Apec dignitaries.
Local media has reported high-level activity, including practice runs by police motorcades between the airport and hotels. While also a secure site, the airport seems to have been picked as the best way to fit into both leaders’ schedules.
Xi has just arrived for Apec, while Trump is about to fly out.
As the Trump-Xi meeting gets under way, here are some other images from the morning so far:
Here are some images of Donald Trump and Xi Jinping’s initial meeting just then before their talks began.
Xi says China and the US should be ‘partners and friends’
At the table for the talks Trump said that “Xi is a great leader of a great country, it is an honour to have you with us”.
Xi Jinping said it was a great pleasure to see Trump, adding:
Given our different national conditions we do not always see eye to eye and it is normal for the two leading economies of the world to have friction now and again.
You and I should stay the right course.
I always believe China’s development goes hand in hand with your vision to make America great again.
China and the US should be partners and friends.”
Trump said at the table in Busan after sitting down for the talks with Xi that “we’ve already agreed to a lot of things”.
He praised the Chinese president and said: “I think we’re going to have a fantastic relationship for a long period of time.”
Xi said through an interpreter that it “feels very warm to see you again as it’s been many years”.
Live vision is showing Trump and Xi at a large table for the talks, with their entourages beside them.
Trump and Xi shake hands
Donald Trump and Xi Jinping have greeted each other and shaken hands.
Trump said Xi was a “very tough negotiator and that’s not good”.
In the comment to reporters in Busan before the meeting got under way, the US president also said: “We have a great relationship.”
Asked if he planned to sign a trade deal, Trump said: “Could be.”
The Chinese president didn’t make any comments, but said later at the negotiating table that “China and the US should be partners and friends”.
Live vision from Busan is showing Donald Trump and Xi Jinping shaking hands on a red carpet in front of US and China flags.
Trump-Xi meeting begins – reports
Xi Jinping is now meeting Donald Trump in Busan, Reuters has cited Chinese state media as saying.
We’ll bring you confirmation as soon as we get it.
As mentioned earlier, it’s the two leaders’ first meeting since 2019 and it comes amid hopes that they can hammer out a trade deal that will bring a truce in the blistering trade war between the world’s two largest economies.
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