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US President Donald Trump: Long meeting scheduled with Xi, thinks something will work out
World FX news
Breaking news
US President Donald Trump: Long meeting scheduled with Xi, thinks something will work out
New
2025.10.23 08:20
2025.10.23 08:20
2025.10.23 08:20
US President Donald Trump said late Wednesday that a long meeting is scheduled with China's Xi Jinping in South Korea and thinks something will work out.
Key quotes
Long meeting scheduled with China's Xi in South Korea and thinks something will work out.
It did not feel right to have a meeting with Russia's Putin, so he canceled it and felt it was time for Russian sanctions.
Hopes sanctions won't be on for long with Russia.
Whenever he speaks with Putin, they are good conversations but they don't go anywhere.
Market reaction
At the time of writing, the AUD/USD is trading 0.09% higher on the day to trade at 1.1664.
US-China Trade War FAQs
Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.
The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
Last updated
: 2025.10.23
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US Dollar Index hovers around 99.00 due to potential for US-China trade deal
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is gaining ground after recovering recent losses from the previous session and trading around 99.00 during the Asian hours on Thursday.
New
2025.10.23 11:19Australian Dollar gains following Trump's upbeat comments on potential deals with China
The Australian Dollar (AUD) advances against the US Dollar (USD) on Thursday after US President Donald Trump said that he thinks something will work out with China in a meeting scheduled with China's Xi Jinping in South Korea.
New
2025.10.23 10:44USD/CAD holds losses below 1.4000 ahead of Canadian Retail Sales data
The USD/CAD pair posts modest losses near 1.3990 during the early Asian session on Thursday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on a rise in crude oil prices.
New
2025.10.23 10:15Canadian PM Carney: Decades-long process of economic integration with the US is over
Canadian Prime Minister Mark Carney said that the decades-long process of an ever-closer economic relationship between the Canadian and US economies is over, Reuters reported on Thursday.
New
2025.10.23 09:49WTI climbs to near two-week high above $60.00 as US sanctions on Russian oil companies
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $60.10 during the early Asian trading hours on Thursday. The WTI climbs to a near two-week high after the United States (US) hit Russia's major oil companies with sanctions.
New
2025.10.23 09:24GBP/USD extends into a fourth down day as Cable pressure wanes
GBP/USD fell for a fourth straight day on Wednesday, coming within inches of 1.3300 before staging a half-hearted recovery to the 1.3350 region but still ending the day on a down note.
New
2025.10.23 08:35US imposes sanctions on Russian oil companies
The US President Donald Trump administration hit Russia's major oil companies with sanctions and accused the Russians of a lack of commitment toward ending the war in Ukraine, Reuters reported on Wednesday.
New
2025.10.23 08:33US President Donald Trump: Long meeting scheduled with Xi, thinks something will work out
US President Donald Trump said late Wednesday that a long meeting is scheduled with China's Xi Jinping in South Korea and thinks something will work out.
New
2025.10.23 08:19USD/JPY posts modest losses below 192.00 as US government shutdown continues
The USD/JPY pair trades with mild losses near 151.90, snapping the three-day winning streak during the early Asian session on Thursday. The concerns over the US-China trade front and the ongoing US federal government shutdown weigh on the US Dollar (USD) against the Japanese Yen (JPY).
New
2025.10.23 08:08NZD/USD Price Forecast: Stuck in narrow range, waiting for catalyst
The NZD/USD consolidates within the 0.5700-0.5760 for the second straight day, as the 20-day Simple Moving Average (SMA) at 0.5764 capped the pair's advance towards the 0.58 figure. At the time of writing, the pair trades at 0.5739, virtually unchanged.
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2025.10.23 08:05Disclaimer:
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