Earlier on Wednesday, Trump revealed he expected to lower the 20 per cent tariff he imposed on China earlier this year as punishment for their role in fentanyl trafficking in exchange for more law enforcement cooperation.
Trump was the guest of honour at the dinner, but it was not immediately clear on what basis the other six countries – Australia, New Zealand, Canada, Vietnam, Thailand, and Singapore – scored an invitation, other than they were in town for the 21-member gathering of the Asia-Pacific Economic Cooperation (APEC) summit.
Canada’s Mark Carney strode into the dinner ignoring reporters’ questions about whether he had a message for the US president, who this week vowed to increase levies on Canada in outrage over an anti-tariff TV advertisement that aired in Ontario. The pair sat directly across from each other, even though Trump had made clear he had no time for Canada on his 6-day blitz through Asia.
“I don’t want to meet with him,” he said of Carney on Monday.
Albanese joked that Carney and Singaporean leader Lawrence Wong should have “ride-shared” to the event, each of them fresh off the summit treadmill at the Association of Southeast Asian Nations (ASEAN) conference in Malaysia the previous day.
Earlier in the day, Lee exalted Trump with the royal treatment as Air Force One touched down on the tarmac to the sound of a military band playing “YMCA,” his US rally pep song. Later, Lee gifted Trump a replica gold crown from the ancient Korean kingdom Silla, and awarded him the Grand Order of Mugunghwa, Korea’s highest honour.
Albanese will have his own bilateral meeting with President Lee tomorrow, one that is guaranteed to be significantly more low-key, and will visit the headquarters of global steel manufacturer Pohang
Iron and Steel Company, before the APEC summit starts in earnest on Friday.
But the conference, coming at the tale end of busy summit season, has been overshadowed by the blockbuster meeting happening on the sidelines.
The stage has been set for Trump and Xi to sign off on a deal that is expected to roll back some of the latest round of trade restrictions the countries imposed on each other, after both sides’ negotiators agreed to a consensus framework earlier in the week.
As part of the anticipated deal, the US expects Beijing to delay for a year sweeping new curbs it launched on rare earths exports, while Trump will abandon his threat to hit Chinese goods with an extra 100 per tariff on November 1.
In a sign of an imminent breakthrough on the eve of the meeting, China made its first purchase of US soybeans for the season, after having boycotted them for months.
China only confirmed the meeting between Xi and Trump on Wednesday afternoon.
“We are willing to make joint efforts with the United States to promote the positive results of this meeting and provide new guidance and impetus for the stable development of China-U.S. relations,” a foreign ministry spokesman said.
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