• Former President Donald Trump confirms he will meet with Chinese President Xi Jinping at next week's APEC summit in South Korea.
  • Trump highlights ongoing economic damage to US soybean farmers from Chinese trade restrictions.
  • The meeting, the first face-to-face encounter between the two leaders since 2019, aims to stabilize fraught bilateral relations.

Former President Donald Trump announced plans for a high-stakes meeting with Chinese President Xi Jinping, confirming the two leaders will hold talks on the sidelines of the Asia-Pacific Economic Cooperation summit in Seoul. The October 31-November 1 meeting follows what Trump described as a "very productive" recent phone call between the two leaders.

In public remarks, Trump pointed specifically to the continued suffering of US soybean farmers, who have faced Chinese counter-tariffs and trade restrictions since the escalation of the US-China trade war during his first administration. "US soybean farmers are being hurt because of China," Trump stated, acknowledging the persistent economic damage to American agricultural exporters.

The upcoming dialogue represents the first face-to-face meeting between Trump and Xi since 2019, marking a critical moment in Trump's second presidential term as both nations seek to manage ongoing tensions. According to people familiar with the planning, discussion topics will include trade disputes, agricultural purchases, technology restrictions, fentanyl trafficking, and the regulatory future of TikTok.

Despite the planned diplomacy, substantive breakthroughs appear unlikely in the near term. Both sides remain deeply divided on core issues, with China's government having repeatedly called on the US to "refrain from imposing unilateral trade restrictions" and to ensure a fair business environment for Chinese companies operating in America.

Agricultural industry representatives have expressed cautious optimism about the meeting while emphasizing the urgent need for relief. "Any movement toward resolving these trade barriers is welcome news," said one commodities analyst who requested anonymity due to the sensitivity of ongoing negotiations. "But our farmers have been operating under these restrictions for years now, and the market damage has been substantial."

The protracted trade tensions have reshaped global soybean markets, with Brazilian exporters capturing significant market share that previously belonged to American producers. Industry data shows US soybean exports to China remain well below pre-trade war levels despite some periodic purchasing agreements.

People familiar with the matter suggest both sides are likely withholding major policy moves ahead of further summits, with the most significant potential for substantive agreements emerging around Trump's planned visit to China in 2026. The upcoming APEC meeting is viewed more as an opportunity to establish diplomatic momentum rather than produce immediate deliverables.

Efforts to reach representatives from both agricultural trade associations and the National Economic Council for additional comment were not immediately successful Thursday afternoon. Market reaction to the announcement was muted, with soybean futures showing little movement in early Asian trading.

Correction: An earlier version of this article misstated the year of the last Trump-Xi meeting; it was 2019, not 2018.