President Donald Trump signaled on Friday that he may meet Chinese leader Xi Jinping within weeks and reiterated his controversial assertion that India will stop buying Russian oil.
The latest remarks came as Ukrainian President Volodymyr Zelenskyy arrived at the White House for crucial talks on long-range weapons and peace negotiations.
The diplomatic flurry came one day after Trump held a two-hour phone call with Russian President Vladimir Putin, during which they agreed to meet in Budapest, Hungary.
Trump eyes Xi summit amid trade tensions
Trump confirmed in a Fox Business interview that he would meet with Xi Jinping in South Korea during the Asia-Pacific Economic Cooperation summit, scheduled for October 31 to November 1 in Gyeongju.
The announcement came as a surprise after Trump had threatened days earlier to cancel the meeting and impose 100% tariffs on Chinese goods in retaliation for Beijing’s export curbs on rare earth minerals.
“It’s not sustainable,” Trump said of the proposed 100% tariff during the Friday interview, adding, “They forced me to do that”. He expressed optimism about the upcoming talks with Xi, stating, “I think we’ll be fine with China”.
US Treasury Secretary Scott Bessent confirmed “substantial communication” between the two sides over the weekend and indicated that working-level meetings would continue.
Financial markets rallied on Trump’s softened tone, with the S&P 500 and Nasdaq recovering some earlier losses following his comments.
The potential meeting would mark the first encounter between the two leaders since Trump returned to power in January 2025.
India pushes back on Russian oil claims
Trump doubled down on his claim that Prime Minister Narendra Modi had assured him India would stop purchasing Russian oil, despite India’s Ministry of External Affairs categorically denying any recent phone conversation between the two leaders.
Speaking at a joint press briefing with Zelenskyy on Friday, Trump stated, “India is not going to be buying Russian oil anymore”.
The remarks came amid ongoing US-India trade tensions, with Trump having imposed a 50% tariff on Indian exports in August over its Russian oil purchases.
India’s foreign ministry responded Thursday by emphasizing that “ensuring stable energy prices and supplies have been the twin goals of our energy policy,” without directly addressing Trump’s claim.
Russia remains India’s top oil supplier, accounting for 34% of the country’s imports in September at approximately 1.6 million barrels per day.
However, Indian Commerce Secretary Rajesh Agrawal indicated the country could increase US energy purchases by $12-15 billion if prices are competitive.
The Kremlin dismissed the pressure campaign, with spokesman Dmitry Peskov stating Moscow could supply “high-quality oil at lower prices” and warning that attempts to restrict free trade would violate international principles.
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