Gyeongju: U.S. President Donald Trump and Chinese President Xi Jinping are set to have a “pull-aside” meeting in South Korea later this month, according to Treasury Secretary Scott Bessent. He expressed anticipation of a “pretty big breakthrough” in concurrent trade discussions with his Chinese counterpart.

According to Yonhap News Agency, Bessent shared these insights during a CNBC interview, following Trump’s confirmation of his upcoming meeting with Xi in four weeks. This meeting aligns with South Korea’s preparations to host the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju from October 31 to November 1.

Bessent emphasized the significance of the face-to-face engagement between the two leaders. He highlighted the mutual respect shared by Trump and Xi, suggesting that their personal interaction will be beneficial in setting the framework for future trade agreements.

In addition, Bessent is optimistic about his parallel trade negotiations with China’s Vice Premier He Lifeng. He noted that w
ith Trump’s leadership and the respect Xi holds for him, the upcoming fifth round of talks could yield significant progress.

Trump mentioned on Truth Social that a key discussion point with Xi will be soybeans, as China has reportedly halted purchases of U.S. soybeans in recent months, opting instead for producers in Brazil and other nations.