Trump heads to Asia for Xi talks, eyes Kim meeting

US President Donald Trump has said he hopes to meet Pyongyang’s leader Kim Jong Un again – possibly this year. (AFP)
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Updated 25 October 2025
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Trump heads to Asia for Xi talks, eyes Kim meeting

  • Trump told reporters aboard Air Force One that he hoped for a “very good meeting” with Xi
  • Kim has said he would also be open to meeting the US president if Washington drops its demand that Pyongyang give up its nuclear arsenal

ABOARD AIR FORCE ONE: US President Donald Trump headed for Asia on Saturday and high-stakes trade talks with Chinese counterpart Xi Jinping, saying that he would also like to meet North Korean leader Kim Jong Un on his trip.
Trump is set to meet Xi in South Korea on the last day of his regional swing in a bid to seal a deal to end the bruising trade war between the world’s two biggest economies.
He will also visit Malaysia and Japan on his first trip to Asia since he returned to the White House in January in a blaze of tariffs and international dealmaking.
Trump told reporters aboard Air Force One that he hoped for a “very good meeting” with Xi, adding that he expected China to make a deal to avoid further 100 percent tariffs that are due to come into effect on November 1.
A US Treasury spokesman told AFP that US and Chinese officials in Malaysia concluded a day of “very constructive” trade talks, which are expected to resume on Sunday.
As he left Washington, Trump added to speculation that he could meet Kim for the first time since 2019 while on the Korean peninsula.
“I’m open to it,” Trump said aboard the presidential plane. “I had a great relationship with him.”
Asked if he was open to North Korea’s demand to be recognized as a nuclear state as a precondition for talks, Trump replied: “Well, I think they are sort of a nuclear power... They got a lot of nuclear weapons, I’ll say that.”
The two leaders last met in the Demilitarized Zone that separates the two Koreas during Trump’s first term. Kim has said he would also be open to meeting the US president if Washington drops its demand that Pyongyang give up its nuclear arsenal.
South Korea’s reunification minister has said there is a “considerable” chance that Trump and Kim will meet while the US leader is in South Korea, mainly for a regional summit.

- Peace and trade deals -

Trump’s first stop will be Malaysia, where he arrives on Sunday, for the Association of Southeast Asian Nations (ASEAN) summit — a meeting he skipped several times in his first term.
Trump is set to sign a trade deal with Malaysia, and will witness the signing of a peace accord between Thailand and Cambodia in his continued quest for a Nobel Peace Prize.
He said he also expected to meet Brazilian President Luiz Inacio Lula da Silva on the sidelines of the summit to improve ties with the leftist leader after months of bad blood.
Trump’s next destination will be Tokyo, where he arrives on Monday. He will meet conservative Sanae Takaichi on Tuesday after she was named this week as Japan’s first woman prime minister.
The US leader said he had “heard great things about her” and hailed the fact that she was an acolyte of assassinated former premier Shinzo Abe, with whom he had close ties.
Japan has escaped the worst of the tariffs Trump slapped on countries around the world to end what he calls unfair trade balances that are “ripping off the United States.”

- Trump and Xi -

The highlight of the trip is expected to be South Korea, with Trump due to land in the southern port city of Busan on Wednesday ahead of the Asia-Pacific Economic Cooperation (APEC) summit.
Trump will meet South Korean President Lee Jae Myung, address an APEC lunch with business leaders and meet US tech bosses for dinner on the sidelines of the summit in the city of Gyeongju.
He will meet Xi on Thursday for the first time since his return to office.
Global markets will be watching closely to see if they can halt the trade war sparked by Trump’s sweeping tariffs, especially after a recent dispute over Beijing’s rare-earth curbs.
Trump initially threatened to cancel the meeting and announced the fresh 100 percent tariffs during that row, before saying he would go ahead after all.
He said he would also discuss fentanyl with Xi, as he raises pressure on Beijing to curb trafficking of the powerful opioid and cracks down on Latin American drug cartels.


SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions

Updated 03 February 2026
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SpaceX acquires xAI in record-setting deal as Musk looks to unify AI and space ambitions

  • The deal is the biggest M&A transaction of all time
  • Deal values xAI at $250 billion, SpaceX at $1 trillion

Elon Musk said on Monday ​that SpaceX has acquired his artificial-intelligence startup xAI in a record-setting deal that unifies Musk’s AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot. The deal, first reported by Reuters last week, represents one of the most ambitious tie-ups in the technology sector yet, combining a space-and-defense contractor with a fast-growing AI developer whose costs are largely driven by chips, data centers and energy. It could also bolster SpaceX’s data-center ambitions as Musk competes with rivals like Alphabet’s Google, Meta, Amazon-backed Anthropic ‌and OpenAI in the ‌AI sector.
The transaction values SpaceX at $1 trillion, and ‌xAI ⁠at $250 ​billion, according ‌to a person familiar with the matter.
“This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!” Musk said. The purchase of xAI sets a new record for the world’s largest M&A deal, a distinction held for more than 25 years when Vodafone bought Germany’s Mannesmann in a hostile takeover valued at $203 billion ⁠in 2000, according to data compiled by LSEG. The combined company of SpaceX and xAI is expected to price shares ‌at about $527 each, another person familiar with the matter said. ‍SpaceX was already the world’s most ‍valuable privately held company, last valued at $800 billion in a recent insider share sale. ‍XAI was last valued at $230 billion in November, according to the Wall Street Journal. The merger comes as the space company plans a blockbuster public offering this year that could value it at over $1.5 trillion, two people familiar with the matter said.
SpaceX, xAI and Musk did not immediately respond ​to requests for comment.
The deal further consolidates Musk’s far-flung business empire and fortunes into a tighter, mutually reinforcing ecosystem – what some investors and analysts informally ⁠call the “Muskonomy” – which already includes Tesla, brain-chip maker Neuralink and tunnel firm the Boring Company. The world’s richest man has a history of merging his ventures together. Musk folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform’s data and distribution. In 2016, he used Tesla’s stock to buy his solar-energy company SolarCity.
The agreement could draw scrutiny from regulators and investors over governance, valuation and conflicts of interest given Musk’s overlapping leadership roles across multiple firms, as well as the potential movement of engineers, proprietary technology and contracts between entities.
SpaceX also holds billions of dollars in federal contracts with NASA, the Department of Defense and intelligence agencies, which all have some authority ‌to review M&A transactions for national security and other risks.