White House confirms Trump meeting with Xi at summit in South Korea

President Trump will meet Chinese President Xi Jinping on the sidelines of an Asian summit in South Korea next week, the White House said Thursday, confirming a sit-down that could resolve trade tensions between the world’s largest economies.

White House press secretary Karoline Leavitt said the two powerful leaders would meet on Thursday, the day before Halloween.

Mr. Trump had waffled on whether he would follow through with the Xi meeting, given China’s surprising crackdown on exports of rare earth elements.

At the same time, Mr. Trump said a meeting could lead to a positive outcome between the countries.

“I think we will make a deal,” Mr. Trump said in the Oval Office on Wednesday.

Mr. Trump’s meeting with Mr. Xi is part of a busy swing through Asia that will begin with a flight to Malaysia, arriving on Sunday local time.

He will attend a bilateral meeting with the prime minister of Malaysia and attend the Association of Southeast Asian Nations’ leaders’ working dinner.

On Monday, he will fly to Tokyo and meet on Tuesday with the new Japanese prime minister, Sanae Takaichi.

On Wednesday, he will fly to Busan, South Korea, to meet with South Korean President Lee Jae-myung and deliver remarks at the Asia-Pacific Economic Cooperation summit.

The trip will be capped by his meeting with Mr. Xi on Thursday.

Right after he returns to Washington, Mr. Trump will celebrate Halloween at the White House with visiting youth and first lady Melania Trump, according to Ms. Leavitt.

The Xi meeting is the marquee event on Mr. Trump’s tour of Asia.

The U.S. and China traded sky-high tariffs earlier this year before a series of summits led to a truce that knocked levies down to manageable levels and paved the way for deeper talks about trade practices.

However, the truce fell apart this month when China severely restricted the export of rare earths to the U.S. and other countries. The elements are critical components of electric vehicles, lasers, military equipment and other technology.

Beijing appeared angered by the Trump administration’s decision to impose fees on Chinese ships in American ports and restrict exports of certain technology.

At the same time, China characterized its move as a common trade practice.

“The measures are designed to better safeguard national security and interests and to better perform nonproliferation and other international obligations,” the Commerce Ministry said. “These measures are not targeted at any specific country or region. Legitimate and compliant export applications will be reviewed and granted accordingly.”

Trump officials say they have leverage in negotiations because Chinese companies rely on the rich U.S. market.

Mr. Trump is threatening to impose an extra 100% tariff on Chinese goods entering the U.S., which would effectively bring levels on some products to over 150%.

China on Thursday said it’s sending its top trade official, Vice Premier He Lifeng, to Malaysia to meet with Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer ahead of the Trump-Xi meeting.