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China is also increasingly wary as US trade and technology moves begin to ripple through its relationships with other countries.

Beijing is using its dominance in rare earth materials as leverage to counter Washington’s semiconductor restrictions. On October 9, China expanded its rare earths licensing regime to cover products — including advanced chips — with even just 0.1% of China-sourced rare earths.

(From Emily Tan Of CNBC.)

Donald Trump said that Xi Jinping is a great leader of a great country and that they are going to have a fantastic relationship for a long period of time.

Xi Jinping, in his remarks thanked Trump and appreciated his contribution to a ceasefire in the region. He added that he is ready to work with Trump to lay a solid foundation for two-way ties between the two countries.

We are going to have a successful meeting, I have no doubt. but he is a very tough negotiator, Thats not good.

On whether a deal will be signed today, Trump said “Could be. We have a great relationship, We have always had a great relationship.”

The much awaited meeting between US President Donald Trump and Chinese President Xi Jinping has begun in Busan, South Korea.

Clarity is awaited on trade, tariffs and a host of other issues.

US futures have recovered from the lows and turned positive ahead of the meeting.

Watch this space for ALL THE LIVE updates.

US restrictions on Chinese access to Nvidia chips and other advanced American technology have accelerated over the last three years. Now, it’s uncertain whether Nvidia can recoup the China market share that it says has gone to zero.

“What the Chinese themselves are hoping for is not to be as constrained with technology,” Johnson said. “Is the U.S. done? Or is this going to continue and continue and continue?”

Trump on Wednesday alluded that export restrictions on Nvidia’s fastest AI chips — the Blackwell graphics processing units — could be discussed when he meets Xi.

(From Emily Tan of CNBC.)

The United States has more Nuclear Weapons than any other country. This was accomplished, including a complete update and renovation of existing weapons, during my First Term in office. Because of the tremendous destructive power, I HATED to do it, but had no choice! Russia is second, and China is a distant third, but will be even within 5 years. Because of other countries testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis. That process will begin immediately. Thank you for your attention to this matter! PRESIDENT DONALD J. TRUMP

The 32nd APEC Economic Leaders’ Meeting is being held in Gyeongju where he is expected to meet US President Donald Trump. CGTN is the English-language news channel of state-run China Global Television Network, based in Beijing, China.

Beijing’s most practical ask is for the US to roll back tariffs on Chinese goods. The duties more than doubled in just two weeks back in April, before both sides agreed to 90-day pauses of the duties, with the latest set to expire in mid-November.

There has been a lot of back and forth over whether Donald Trump will impose the additional 100% tariff on China from November 1, despite Treasury Secretary Scott Bessent saying it is “effectively off the table.”

The South Korean benchmark KOSPI continues to make new records, gaining another 1.5% after local media reports released details of the trade deal with the US.

South Korea will invest $200 billion in the U.S., with an annual cap of $20 billion a year, while the remaining $150 billion of its $350 billion total pledge announced earlier this year will be used for shipbuilding cooperation, according to local media reports.

Futures on Wall Street have seen a sharp recovery after the initial losses.

The Dow futures are now up 40 points, compared to losses touching 100 points just a few minutes earlier.

Nasdaq futures are also up by a similar quantum, while S&P 500 futures are up 15 points.

The Trump administration’s ad hoc approach contrasts with Beijing’s emphasis on stability.

“The Chinese want basically a more stable, more conducive-like economic and trade relationship,” said Zichen Wang, research fellow and director for international communications at the Beijing-based think tank Center for China and Globalization.

He expects that could include “some sort of ceasefire, so that there will be no more tit-for-tat escalations from the U.S. and then countermeasures from China.”

(From Emily Tan of CNBC.)

– Stability

– Tariff Reduction

– Easing of Tech Curbs

– Trade With Other Countries

– Mutual Respect

More details on all these points in subsequent posts.

Trump told reporters aboard the Air Force One that fentanyl flows into the U.S. and “farmers” will be among topics he expects to discuss with Xi on Thursday.

China also confirmed the meeting saying Xi will meet Trump to “exchange views on the issues of shared concerns. The “concerns” were not elaborated upon.

All eyes are on the first in-person meeting between the leaders of the two largest economies of the world after Donald Trump took office earlier this year.

While both sides have expressed optimism over a positive outcome, experts remain skeptical, anticipating a vague outcome to this summit, that is expected to last up to four hours.

Dow futures are witnessing a recovery ahead of the Trump-Xi summit in South Korea.

The Dow futures, which were down 100 points a few minutes ago, are now flat, while the Nasdaq futures are also down only 20 points.

S&P 500 futures have turned positive.

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