The two most powerful leaders in the world have met as part of efforts to settle the US-China trade war which has rocked global markets for months.

US President Donald Trump and Chinese President Xi Jinping met at Gimhae Airport in South Korea on Thursday to negotiate a trade deal.

For the past year, Washington and Beijing have raised tariffs on each other's exports and threatened to halt trade involving critical minerals and technologies.

President Trump has maintained 20 per cent tariffs on Chinese imports, citing Beijing’s failure to stop the flow of chemicals used to make fentanyl into the US.

Those tariffs have remained in effect despite a fragile trade truce reached by both sides in subsequent talks.

China has defended its record and accused Washington of using the issue to “bla

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