US-China trade deal critical to prevent escalating tariff war: Analysis

US President Donald Trump and China's leader, Xi Jinping are sitting down for high-stakes talks in the South Korean city of Busan. The trade war between the two superpowers that's rattled the global economy is expected to top the agenda. Just ahead of the meeting, Trump said he thinks there's a good chance of doing a deal with Beijing. Earlier this month Trump levied additional tariffs of 100 percent on imports from China, in retaliation for Beijing curbing its rare earth exports. Both men expressed optimism as they began their talks. Yun Sun, the director of the Stimson Center’s China Program, explains what might happen if a deal can't be reached. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://twitter.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.io/AJEMobile #DonaldTrump #XiJinping #US #UnitedStates #China #USChinaTrade #TrumpXiMeeting #RareEarths #CriticalMinerals #Fentanyl #TikTok #TradeWar #Tariffs #Economy #APEC #SouthKorea #AlJazeeraEnglish