In an interview with Fox Business on Monday, Treasury Secretary Scott Bessent said the two leaders will meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, which is scheduled to take place in the southeastern city of Gyeongju from Oct. 31 to Nov. 1.
"I believe that meeting [between Trump and Xi] will still be on," Bessent said, adding that "there has been substantial communications" over the weekend.
He made the comments just days after Trump hinted that he might cancel his meeting with Xi in protest of Beijing's new restrictions on exports of rare earths.
"I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems no reason to do so," Trump said abruptly last Friday, accusing China of taking an "extraordinarily aggressive position" on trade. He also threatened to impose additional tariffs of 100 percent on Chinese exports to the U.S.
But later that day, he softened his tone, saying he would travel to South Korea "regardless" and suggesting the meeting could still take place.
The latest development came after China announced plans to tighten export controls on rare earths, key materials used in the production of electronic devices, weapons, and other high-tech products, amid the two countries' ongoing trade disputes and rivalry.
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