Trump, Xi Seek to Cool Trade Standoff

Gyeongju, South Korea — Presidents Donald Trump and Xi Jinping meet Thursday on APEC’s sidelines, with US officials signaling a pause on China’s rare earth export controls and new US tariffs. The talks follow threats of sweeping measures—Beijing’s curbs and Trump’s potential 100% tariffs—that economists warn would devastate growth. Experts say de-escalation could steady expectations, though doubts persist over how long it can last. With the two economies shaping 43% of global GDP, a prolonged split could cut output by nearly 7%, even as the IMF lifted its 2025 growth outlook to 3.2%.