BEIJING (Reuters) -China confirmed that President Xi Jinping will meet U.S. President Donald Trump in South Korea on Thursday, setting up a widely anticipated encounter that traders and investors on both sides of the Pacific hope will ease months of trade tensions.

“The two heads of state will have in-depth communications on strategic and long-term issues,” a foreign ministry spokesperson said on Wednesday, without making a direct reference to the trade deal the leaders of the world’s two largest economies are expected to agree on while in the port city of Busan.

“We are willing to make joint efforts with the United States to promote the positive results of this meeting and provide new guidance and impetus for the stable development of China-U.S. relations,” Guo Jiakun added.

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