Trump-Xi Jinping Meets Thursday Afternoon, China Wants Stable Relations With US

Chinese President Xi Jinping (DOC ANTARA)

JAKARTA - China confirmed President Xi Jinping will meet US President Donald Trump in South Korea on Thursday.

This meeting will be a highly anticipated meeting and is expected by traders and investors on both sides of the Pacific to ease trade tensions that have been going on for months.

"The two heads of state will communicate deeply on strategic and long-term issues," said Chinese Foreign Ministry Vicara Spokesperson Guo Jiakun on Wednesday, October 29.

"We are willing to make joint efforts with the United States to push for positive results from this meeting and provide new directions and encouragement for the development of stable China-US relations," Guo Jiakun continued.

Trump previously said he and President Xi would reach a "good agreement" for both countries, aboard Air Force One on their way to South Korea.

Trump and Xi's expectations will meet have helped stabilize the market over the past month after re-emerging tensions raised fears that the two leaders might abandon negotiations aimed at finalizing tariff wars that have disrupted global supply chains.

Washington blamed the escalation of the trade war on Beijing's new rare land export controls, while China insisted it was due to the US's increasingly limiting ability of Chinese companies to invest in America.

Xi will be in South Korea from Thursday to Saturday to attend the Asia-Pacific Economic Cooperation (APEC Summit) and state visits to the country.

Trump will not attend the regional summit.

Washington and Beijing also have disagreements over fentanyl flows, high-end chips, rare ground control, and soybeans.

COFCO, a Chinese state-owned company, bought three US soybean cargoes ahead of negotiations, according to a trading source.

This is China's first purchase of US harvest this year, and a move analysts say may be a sign of goodwill ahead of negotiations.