US President Donald Trump landed in South Korea on Wednesday, marking the final leg of his Asia tour for high-stakes meetings with Chinese President Xi Jinping and South Korean President Lee Jae Myung during the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.

Trump's meetings with Lee aim to finalize a July framework deal calling Seoul to invest USD 350 billion in Washington, paired with a reduction of tariffs from 25 pc to 15 PC. Trump has also pressed allies, including South Korea to pay more for defence and called upon for deepening collaboration in shipbuilding, an industry in which South Korea is a global leader. Earlier this year, South Korean shipbuilding giant Hanwha Ocean acquired the Philly Shipyard and plans to invest USD 5 billion as part of broader South Korean investments in US shipbuilding. Trump described the shipyard as "going to be one of the most successful yards anywhere in the world."

Trump arrived from Tokyo just hours after North Korea launched a nuclear-capable cruise missile. Speaking to reporters aboard Air Force One, he downplayed the missile test, saying his focus was on trade talks with China. "The relationship with China is very good. So I think we're going to have a very good outcome for our country and for the world, actually," Trump said. Trump will meet South Korean President Lee Jae Myung in Gyeongju later today, with talks expected to cover trade, defense and regional stability.

The president told reporters Tuesday night that the US might reduce tariffs on Chinese imports if Beijing agrees to limit exports of chemicals used to make fentanyl. Current tariffs, set at 20 pc, could potentially be cut in half.

"I expect to be lowering that because I believe that they're going to help us with the fentanyl situation. They're going to be doing what they can do," Trump told reporters Tuesday night.

During the first few months of Trump's second term, he put a 20 percent tariff on all Chinese goods after the country did not take "adequate steps to alleviate the illicit drug crisis," the White House said in March. In Busan, Trump received a ceremonial cannon salute and was greeted by officials, and a band performance of the YMCA. Margo Martin, Special Assistant to the President, shared a video of US and Korean F-16s escorting Air Force One into South Korean airspace.

Meanwhile, the upcoming summit with Xi Jinping, the first since 2019,is expected to ease US-China tensions, though experts caution it may not fully resolve all trade disputes. Officials on both sides have recently agreed on a framework addressing key sticking points, including tariffs, TikTok, and rare earths.

During the first few months of Trump's second term, he imposed a 20 percent tariff on all Chinese goods after the country failed to take "adequate steps to alleviate the illicit drug crisis," the White House stated in March.

When asked about the possibility of discussing Taiwan, the self-governed island claimed by China as its territory, Trump said he was "not sure" whether the issue would be raised.