Trump touts South Korea, China deals on last stop of Asia tour

Reuters:

GYEONGJU, South Korea, Oct 29 – U.S. President Donald Trump began the final leg of his Asia trip in South Korea on Wednesday, optimistic about advancing an unresolved tariff deal with President Lee Jae Myung and striking a trade war truce with China’s Xi Jinping.

Arriving from Tokyo hours after North Korea test-fired a nuclear-capable cruise missile, Trump received a lavish reception from Lee in Gyeongju, a historic city hosting this year’s Asia-Pacific Economic Cooperation forum.

His talks with Xi are set for Thursday in the port city of Busan.

Speaking earlier to reporters aboard Air Force One en route to South Korea, Trump dismissed the North Korea missile test and said he was squarely focused on his meeting with the leader of the world’s second-largest economy.

“I think we’re going to have a very good outcome for our country and for the world, actually,” Trump said.

He expects to reduce U.S. tariffs on Chinese goods in exchange for Beijing’s commitment to curb exports of fentanyl precursor chemicals, he added.

The United States could halve the levies of 20% on Chinese goods it now charges in retaliation for the export of such chemicals, the Wall Street Journal said.

China’s foreign ministry said the meeting of the two leaders would “inject new momentum into the development of U.S.-China relations”, and Beijing was ready to work together for “positive outcomes”.