Ahead of his meeting with Chinese President Xi Jinping on Thursday in Busan, on the sidelines of the APEC summit, US President Donald Trump said he expects to seal a “great deal” with China at the high-stakes meeting.

In a wide-ranging and rambling speech on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit on Wednesday, Trump said "We're going to have a deal with China — and it will be a good deal for both."

He said the trade deal would be good for both countries and “something very exciting for everybody”.

“That’s really a great result. That’s better than fighting and going through all sorts of problems,” Trump said in an address to a business luncheon on the sidelines of the APEC gathering in Gyeongju.

This would be the first face-to-face meeting between the two leaders since Trump took office in 2025.

China's foreign ministry confirmed the meeting, which will focus largely on trade relations and regional economic stability.

Addressing business leaders in Gyeongju on Wednesday, Trump expressed optimism about the upcoming negotiations with Beijing.

He also said that recent progress within APEC had contributed to reforming what he called a "broken" global trading system.

Trump, who is on the final leg of a six-day visit to Asia, last met Xi in 2019 on the sidelines of the Group of 20 summit in Osaka, Japan.

Trump, who arrived in South Korea after visiting Japan and Malaysia, did not provide details of the anticipated agreement.

Speaking on Air Force One earlier, Trump said he expected the agreement to solve “a lot of problems” and include lower tariffs on Chinese goods in exchange for Beijing taking steps to curb the production of fentanyl.

Trump has imposed a 20 percent tariff on Chinese goods over what he claims is Beijing’s failure to crack down on the flow of chemicals used in making the deadly opioid.

Chinese Foreign Ministry spokesperson Guo Jiakun said in Beijing that Xi and Trump will have “in-depth communication on issues of strategic and long-term importance to China-U.S. relations, as well as major issues of mutual concern.”

“We are willing to work together with the U.S. side to promote positive outcomes from this meeting, provide new guidance for the stable development of China-U.S. relations, and inject new momentum,” he said.

Asked about Trump’s comments that he would lower tariffs on China for Beijing’s help in curbing the fentanyl flow into the U.S., Guo Jiakun said China has the world’s “best record” in drug controls with the “most comprehensive policies.”

“China expresses sympathy for the American people who suffer from the fentanyl crisis,” Guo said. “We have provided assistance in the past and achieved positive results, and remain open to continued cooperation with the U.S. side.”

Guo urged the U.S. to “take concrete actions to create the necessary conditions for such cooperation.”

In 2019, China banned all fentanyl-related substances and tightened controls, but U.S. officials say enforcement gaps persist.