BUSAN: President Donald Trump will meet Chinese President Xi Jinping on Thursday in a high-stakes effort to stabilise relations between the world’s two largest economies after months of escalating trade tensions.

Trump’s renewed tariff offensive since returning to the White House for a second term — and Beijing’s retaliatory curbs on rare earth exports — have lent the meeting fresh urgency. Both sides recognise that a prolonged standoff could imperil the global economy and hurt their own growth prospects.

In the days leading up to the meeting, U.S. officials have signaled that Trump does not intend to make good on a recent threat to impose an additional 100% import tax on Chinese goods — and China has shown signs it is willing to relax its export controls on rare earths and also buy

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