- •President Donald Trump confirmed his upcoming October 31 summit with Xi Jinping at the APEC meeting in Seoul, signaling a possible thaw in U.S.-China relations.
- •The announcement sparked a brief recovery in crypto markets, with Bitcoin, Ethereum, and Solana posting modest gains after weeks of volatility.
- •While Trump expressed optimism about reaching a “fair deal”, the exact summit agenda remains undisclosed, leaving investors cautiously hopeful.
President Donald Trump has confirmed that he will meet China’s President Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in Seoul on October 31. The announcement comes at a time when investors are closely watching signs of stability in U.S.-China relations. Trump’s confirmation of the October 31 summit with Xi Jinping has already lifted sentiment across both traditional and crypto markets, where even small signals of cooperation tend to spark major reactions.
Speaking to Maria Bartiromo on Fox News, Trump described Xi as a “very strong leader” and “an amazing man”, highlighting his respect for the Chinese president’s leadership but maintaining that any future trade agreement “has to be fair”. His remarks followed weeks of friction between Washington and Beijing, including disputes over tariffs and China’s rare earth mineral export restrictions.
Trump Confirms October 31 Summit with Xi Jinping
During the Fox News interview, Trump reiterated that he would meet Xi and other world leaders at the APEC summit. “We’re going to meet in South Korea with President Xi and other people, too”, he said. He added, “I think we’re gonna be fine with China, but we have to have a fair deal. It’s going to be fair”.
This confirmation marks a sharp turn from Trump’s earlier position when he said there was “no reason” to meet Xi at the upcoming summit. That comment, paired with new tariff announcements, had briefly worsened investor sentiment and triggered a downturn in both equities and crypto markets. Now, his change in tone and the announcement of the October 31 summit with Xi Jinping have been interpreted as a sign of easing hostilities between the two countries.
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Crypto Markets React to Easing Trade Tensions
The crypto market responded almost immediately to the news. Bitcoin rose by roughly 2% on Sunday, reaching around $109,000, while Ethereum and BNB gained about 3.5%. Solana’s SOL also climbed nearly 4%, according to TradingView data.
This modest rally followed one of the most dramatic weeks in crypto history, where about $20 billion in leveraged positions were liquidated amid fears of a deepening trade conflict. Market sentiment, reflected in the Crypto Fear and Greed Index, had dropped to 22, signaling “Extreme Fear”, before the rebound began.
Analysts noted that Trump’s confirmation of the October 31 summit with Xi Jinping helped calm investors who had been bracing for a prolonged standoff. The Kobeissi Letter commented that while the short-term correction was technically driven, the overall bullish trend for Bitcoin and other major assets remains intact.
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Trade Outlook and Economic Context
Beyond the crypto sphere, Trump also discussed the U.S. economy and China’s role in global supply chains. He addressed Beijing’s restrictions on rare earth mineral exports, stating that the U.S. would “do fine” despite the policy shift. He also defended the legality of his tariff measures, portraying them as necessary to ensure fair trade practices and protect American manufacturing interests.
The upcoming APEC summit is expected to focus on trade, technology, and resource security. While the official agenda for the October 31 summit with Xi Jinping has not yet been made public, analysts believe it could serve as a critical step toward restoring communication channels between Washington and Beijing.
Looking Ahead
Trump’s confirmation of the October 31 summit with Xi Jinping has brought a moment of cautious optimism to both global and crypto markets. Although no outcomes are guaranteed, the meeting represents a fresh opening for dialogue at a time when trade and technology tensions have weighed heavily on economic confidence.
For now, markets appear to be responding positively to Trump’s assurance that the U.S. will “do fine” with China. As October 31 approaches, investors will be watching closely to see whether the summit delivers more than words, and whether it sets a new tone for U.S.-China relations moving forward.
