(MENAFN) U.S. President Donald Trump stated on Wednesday that he believes he will be able to finalize a trade agreement with Chinese President Xi Jinping during their forthcoming discussion in South Korea.

"I think we're going to have a deal. I think it'll be a good deal for both. And that's really a great result, you know, that's better than fighting and going through all sorts of problems, and, you know, no reason for it," the American leader remarked while addressing executives at an Asia-Pacific Economic Cooperation summit in South Korea.

Trump continued, "I think it's going to be a great deal for both. So I'll be meeting him tomorrow. A lot of people are interested. They're also interested in what we're doing, but they're interested in that. I can tell you a lot the world is watching," emphasizing the global anticipation surrounding the meeting.

This upcoming encounter follows several months of diplomatic negotiations between Washington and Beijing, as their ongoing trade conflict has fluctuated throughout Trump’s nine months in office.

Treasury Secretary Scott Bessent commented on Sunday that the United States and China had established a “very substantial” framework for the upcoming summit.

While speaking to journalists aboard Air Force One on his way to South Korea earlier Wednesday, Trump mentioned that Beijing had agreed to assist in reducing fentanyl exports.

In exchange, he suggested he would likely ease some of the tariffs previously imposed due to the influx of the potent narcotic and its chemical components.

“I expect to be lowering that because I believe that they’re going to help us with the fentanyl situation,” he stated.

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