U.S. confirms date for Trump's meeting with PRC chief US indices accelerated growth

US President Donald Trump and Chinese President Xi Jinping will hold talks on Oct. 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, the White House said . It will be their first face-to-face meeting since Trump returned to power as part of his second term. The previous one was in 2019.

The leaders of the world's two largest economies are expected to ease tensions in the escalating trade war, Bloomberg notes . During the last wave of escalation, the American leader admitted that the meeting with the head of China would not take place - after Beijing decided to severely restrict exports of rare earth metals critical for the industry. In response, the White House threatened to impose an additional 100 percent duty on Chinese imports starting November 1.

There is now a trade truce between the U.S. and China, but it expires on Nov. 10, and if it is not extended - the sides could slap record-high duties on each other's goods.

After confirmation of the meeting between the two leaders, the main U.S. indices accelerated growth. The S&P 500 added 0.6% in trading on October 23, and the technology Nasdaq Composite jumped almost 1%.

This article was AI-translated and verified by a human editor