In a significant diplomatic move, U.S. President Donald Trump is set to meet with Chinese President Xi Jinping in South Korea on October 30 during the Asia-Pacific Economic Cooperation (APEC) Summit.

This highly anticipated meeting has been confirmed by the White House.

The upcoming encounter will be the first in-person discussion between Trump and Xi since Trump's recent return to office.

The meeting comes amidst escalating tensions between the United States and China, primarily driven by trade disputes.

President Trump has issued a stern warning regarding imposing an additional 100% tariff on Chinese goods starting November if China does not relax its stringent restrictions on rare earth exports, highlighting a key issue in ongoing bilateral negotiations.

Karoline Leavitt, the White House press secretary, announced the scheduled meeting during a briefing on Thursday.

The bilateral talks are set to take place on the sidelines of APEC, held this year in Gyeongju, South Korea, from October 31 to November 1.

"We have planned a comprehensive meeting," remarked Trump earlier, emphasizing potential breakthroughs in resolving mutual concerns.

"I believe we can reach an understanding," he added optimistically.

China’s Commerce Minister Wang Wentao expressed cautious optimism about forthcoming negotiations with the U.S., noting that previous dialogues demonstrated potential solutions for mutual concerns, encouraging stable development of economic and trade relations between both nations.

During his visit to Asia, President Trump also plans to meet South Korean leader Lee Jae-myung and participate in a working dinner for leaders.

The trip includes engagements at other pivotal regional forums such as the Association of Southeast Asian Nations (ASEAN) summit in Malaysia.

This itinerary further extends to discussions with leaders from Malaysia, Japan-where he will meet Prime Minister Sanae Takaichi-and other regional partners according to Leavitt's statement.

The dialogue between Trump and Xi follows three telephonic conversations this year alone; most recently discussing TikTok’s operations within the U.S., reflecting ongoing attempts at detente amidst fraught relations.

Their last face-to-face interaction occurred back in 2019 during Trump's initial presidential term.

Historically promoting direct talks with Xi as a strategic method for addressing complex issues like tariffs and trade disagreements among others such as fentanyl trafficking-Trump views these discussions crucial amid strained U.S.-China dynamics exacerbated by Beijing’s tightened control over rare earth exports recently.