In a rare off-script moment during a diplomatic dinner in South Korea, US President Donald Trump was overheard suggesting that his highly anticipated summit with Chinese President Xi Jinping could yield significant progress in trade talks between Washington and Beijing.
“We’re going to have something that’s going to be very, very satisfactory to China and to us,” Trump remarked during the dinner hosted by South Korean President Lee Jae-myung on Wednesday evening. “I think it’s going to be a very good meeting. I look forward to it tomorrow morning when we meet.”
The casual exchange, caught before microphones were switched off, offered a glimpse into the President’s optimism ahead of the talks, optimism that seems to exceed the official schedule. According to those present, Trump also mentioned that Thursday’s meeting with Xi would last “three to four hours,” even though the White House had allocated less than two.
Hot Mic Moment: Trump Jokes with South Korean President at APEC Dinner About Xi Jinping, Oct 29, 2025
At the APEC leaders’ dinner in Gyeongju, South Korea, U.S. President Donald Trump and South Korean President Lee Jae-myung were caught on a hot mic discussing Trump’s upcoming… pic.twitter.com/n9s0LlznU8
— Raymond Ng (@rayngls) October 29, 2025
A “Very Good Meeting” On The Horizon
Set to take place Thursday morning in the port city of Busan, the summit comes at a pivotal time for US-China relations. Trade tensions, restrictions on rare earth exports, and disputes over fentanyl trafficking have strained diplomatic ties between the two superpowers. Yet, both sides appear eager to find common ground, according to reports from the Associated Press.
Trump’s upbeat tone, caught in that hot mic moment, suggested that he expects tangible results. “It’s going to be very, very satisfactory to both sides,” he said, one of his most confident statements since returning to the White House.
Trade, Tariffs, And The Fentanyl Crisis
Thursday’s discussions are expected to cover a broad spectrum of issues, including tariffs, fentanyl trafficking, and technology exports. The US President has recently hinted that tariff reductions could be on the table, provided China takes concrete action on the fentanyl crisis.
“I expect to be lowering that because I believe that they’re going to help us with the fentanyl situation,” Trump told reporters aboard Air Force One earlier this week. “The relationship with China is very good.”
In the days leading up to the summit, US Treasury Secretary Scott Bessent and China’s top trade negotiator Li Chenggang reportedly reached a preliminary understanding during talks in Kuala Lumpur. The move signaled both countries’ willingness to cool tensions and pursue a more stable trade environment.
Markets React As Optimism Builds
Global investors are watching closely. Even the suggestion of a thaw between Washington and Beijing has buoyed market sentiment, lifting Asian and US indices ahead of the Busan meeting. Analysts say that even limited progress could help steady global supply chains and commodity markets, though many caution that the optimism may be premature.
“This fits the pattern we’ve seen all year: short-term stabilization dressed up as strategic progress,” said Craig Singleton, senior director of the China program at the Foundation for Defense of Democracies. “Both sides are managing volatility, not resolving rivalry.”
Xi Jinping’s Strategic Leverage
After Trump’s departure from South Korea, Xi Jinping is expected to hold separate bilateral meetings with regional leaders on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit.
China’s dominance over rare earth mineral exports, critical for US defense systems and tech manufacturing, remains one of Xi’s most powerful bargaining chips. Beijing has tightened export restrictions in recent months, a familiar move in the diplomatic tug-of-war that often precedes major negotiations.
