The leaders reunited for first time since 2019 to discuss a deal that would ease tensions after months of sparring over trade and technology.

President Trump touted his trade policy during a speech in South Korea ahead of a meeting with President Lee Jae Myung as part of his trip to Asia.

Trump has frequently spoken warmly about Xi and downplayed tensions between Washington and Beijing.

The Federal Reserve lowered interest rates at its second consecutive meeting on Wednesday, extending an effort to prevent a recent slowdown in hiring from turning into something more serious.

Stocks rose, with the Dow industrials briefly climbing above 48000, ahead of a likely to cut to interest rates.