Trump`s aggressive use of tariffs since returning to the White House for a second term combined with China`s retaliatory limits on exports of rare earth elements have given the meeting newfound urgency. There is a mutual recognition that neither side wants to risk blowing up the world economy in ways that could jeopardize their own country`s fortunes

The meeting lasted a little over 100 minutes, with the two leaders shaking hands and Trump appearing to say something into Xi`s ear, just before the Chinese leader entered his own limousine. Trump was shortly back aboard Air Force One to return to Washington

Before the meeting, Trump was optimistic. "We`re going to have a very successful meeting, I have no doubt," Trump said, adding that Xi is a "very tough negotiator." Trump said they "could" possibly sign a deal coming out of the meeting and that they have a "great understanding" of each other

When the two were seated, Xi read prepared remarks that stressed a willingness to work together despite differences

The leaders met in Busan, South Korea, a port city about 76 kilometers south from Gyeongju, the main venue for the Asia-Pacific Economic Cooperation summit