U.S. President Donald Trump is set to arrive in South Korea on Wednesday from Japan for high-stakes summits with President Lee Jae Myung and Chinese President Xi Jinping during the Asia-Pacific Economic Cooperation (APEC) gathering in Gyeongju. This marks Trump's first Asia trip in his second term, focused on securing trade and investment deals amid market turmoil and tariff threats. The Korea-U.S. summit will center on finalizing a July framework trade agreement.
U.S. President Donald Trump is scheduled to arrive via Gimhae International Airport in Busan, where a separate welcoming ceremony featuring a 21-gun salute will mark his state visit. The Korea-U.S. summit will take place as an expanded luncheon meeting at the Gyeongju National Museum, attended by senior officials from both nations. This will be their second in-person summit in about two months, following their first meeting at the White House.
A focal point is the potential finalization of a July framework trade deal, under which South Korea would invest $350 billion in the U.S. in exchange for reducing 'reciprocal' tariffs from 25 percent to 15 percent. The agreement remains unimplemented due to disagreements on investment details. Trump stated on Friday that the deal was 'pretty close to being finalized,' but in a Bloomberg interview the same day, Lee adopted a different tone: 'The method of investment, the amount of investment, the timeline and how we will share the losses and divide the dividends -- all of these remain sticking points.'
Trump's Thursday summit with Xi -- their first since 2019 -- is anticipated for breakthroughs in the U.S.-China trade war. China recently imposed tighter export controls on rare earths essential for high-tech products like fighter jets and robots, prompting Trump's threat of an additional 100 percent tariff on Chinese goods starting November 1. Other issues include China's halt on U.S. soybean purchases, impacting American farmers, and U.S. tariffs aimed at curbing fentanyl flows from China. Trump expressed optimism last week: 'When we leave South Korea, it could be wrong, but I think we'll end up with a very strong trade deal. Both of us will be happy.'
The visit has also sparked discussions of a possible meeting with North Korean leader Kim Jong-un. The two met three times during Trump's first term -- in Singapore in June 2018, Vietnam in February 2019, and Panmunjom in June 2019 -- seeking to dismantle North Korea's nuclear program in return for U.S. concessions like sanctions relief, but talks collapsed over sequencing disputes. Trump has indicated willingness to reengage Kim, even extending his stay, though North Korea has not responded.
Before the talks, Trump will sign a guestbook, attend an official welcome with a gun salute, receive a replica of a Silla Dynasty gold crown (57 B.C.-A.D. 935) and the Grand Order of Mugungwha, tour a Silla gold crown exhibition to build rapport with Lee, and join the luncheon.