U.S. President Donald Trump began the final leg of his Asia trip in South Korea on Wednesday, expressing optimism about advancing an unresolved tariff deal with President Lee Jae Myung and reaching a trade truce with China’s Xi Jinping.
Trump arrived in Gyeongju, hours after North Korea test-fired a nuclear-capable cruise missile, to a lavish reception from Lee ahead of the Asia-Pacific Economic Cooperation (APEC) forum. His talks with Xi are scheduled for Thursday in the port city of Busan.
“I think we’re going to have a very good outcome for our country and for the world, actually,” Trump told reporters aboard Air Force One, dismissing the North Korean missile test and emphasizing his focus on U.S.-China trade talks. He hopes to reduce U.S. tariffs on Chinese goods in exchange for Beijing’s commitment to curb exports of fentanyl precursor chemicals.
China’s foreign ministry welcomed the upcoming meeting, saying it would “inject new momentum into the development of U.S.-China relations.”
South Korea Trade Talks Continue
Speaking at an APEC CEOs summit in Gyeongju, Trump said a trade deal with South Korea would be finalized “very soon,” though officials have downplayed expectations. While a July framework pledged $350 billion in new U.S. investments from Seoul, negotiations over the structure remain deadlocked.
During a working lunch at the Gyeongju National Museum, Lee presented Trump with the “Grand Order of Mugunghwa,” South Korea’s highest honor. The two leaders also discussed defense spending, nuclear fuel reprocessing for South Korea’s submarines, and regional security concerns regarding North Korea.
Taiwan and Technology on the Agenda
Trump indicated discussions with Xi may cover U.S. technology exports, including Nvidia AI chips, though he was uncertain whether Taiwan would be addressed. Since taking office, Trump has shifted positions on the island amid efforts to secure a trade deal with China.
Asia Trip Highlights
The South Korea visit concludes a whirlwind Asia trip that included trade deals in Malaysia and Japan, military and investment agreements, and efforts to ease regional tensions. In Japan, Trump praised Prime Minister Sanae Takaichi’s defense initiatives and oversaw agreements on trade and rare earths, while U.S.-Japan investment commitments reached $550 billion.
