China's President Xi Jinping is leading discussions at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, marking a significant moment in regional diplomacy. The summit comes on the heels of a trade agreement with US President Donald Trump, which has eased tensions by suspending further restrictions on China's rare earth exports.

Key Bilateral Meetings

Xi Jinping's agenda includes several crucial bilateral meetings:

Japan-China Relations

The meeting with Japan's Sanae Takaichi is particularly noteworthy. As a newly elected leader with nationalistic views and plans for military build-up, this encounter could potentially impact China-Japan relations. The outcome of these talks may influence future interactions between these two major Asian economies.

Canada's Trade Ambitions

Canadian Prime Minister Mark Carney's presence at the summit underscores Canada's renewed focus on Asian markets. Carney aims to double Canada's non-US exports over the next decade, signaling a strategic shift in Canada's trade policy.

Summit Objectives

The APEC summit is focusing on two primary objectives:

1. Bolstering supply chains
2. Reducing trade barriers

It's important to note that while these discussions are significant, APEC decisions are non-binding, which may affect their immediate implementation.

Challenges and Expectations

South Korea, as the host nation, is hoping for a joint declaration at the conclusion of the summit. However, this goal faces challenges, considering the failure to reach consensus in both 2018 and 2019 summits.

The recent US-China trade agreement provides a more optimistic backdrop for this year's discussions. However, the diverse interests and ongoing tensions among participating nations may still pose obstacles to achieving a unified stance on key issues.

As the summit progresses, attention will be focused on President Xi Jinping and how China navigates its relationships with regional powers amidst evolving global trade dynamics.

The upcoming Asia-Pacific Economic Cooperation (APEC) Summit in Gyeongju, South Korea, is set to host a pivotal meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Scheduled for October 31 to November 1, 2025, this face-to-face encounter marks their first since 2019, against a backdrop of heightened trade disputes between the world's two largest economies.

Key Summit Details

Trade Tensions Overview

The meeting comes at a critical juncture in U.S.-China trade relations:

Pre-Summit Negotiations

Ahead of the APEC Summit, key economic officials from both nations are set to meet:

• U.S. Representative: Treasury Secretary Scott Bessent
• Chinese Representative: Vice Premier He Lifeng
• Meeting Details: October 24-27, 2025, in Kuala Lumpur

Recent Developments

The trade landscape has seen further complications:

1. China announced new export controls on rare earth elements and strategic materials.
2. In response, President Trump threatened to impose 100% tariffs on Chinese goods starting November 1.

Summit Expectations

President Trump has indicated his willingness to negotiate on a wide range of issues, including agriculture and nuclear arsenals, stating he would make a deal on "everything" with President Xi.

Potential Outcomes

The summit's results could have far-reaching implications:

• Successful Negotiations: Could lead to a new trade agreement and eased tensions.
• Failed Negotiations: May result in the reimposition of higher tariff rates after the November 10 deadline.

Economic Implications

If negotiations fail to produce an agreement by November 10, the consequences could be significant:

• Potential supply chain disruptions
• Higher consumer costs
• Economic uncertainty for both the U.S. and China

As the APEC Summit approaches, global markets and policymakers will be closely watching the outcome of this high-stakes meeting between Presidents Trump and Xi, which could shape the future of U.S.-China trade relations and have broader implications for the global economy.