U.S. President Donald Trump said on Thursday that officials from Washington and Beijing would be meeting to hash out a possible "energy deal" between the two countries.

"China... agreed that they will begin the process of purchasing American Energy," Trump said on Truth Social following talks with Chinese leader Xi Jinping.

President Donald Trump described his face-to-face with Chinese leader Xi Jinping on Thursday as a roaring success, saying he would cut tariffs on China, while Beijing had agreed to allow the export of rare earth elements and start buying American soybeans.

World shares mostly retreated Thursday in choppy trading after President Donald Trump's meeting with Chinese leader Xi Jinping.

South Korea this week will host leaders from major Pacific Rim economies, including the United States, China and Japan, for an annual summit that has long championed free trade.

U.S. stocks are hanging around their records on Wednesday as Wall Street waits to hear from the Federal Reserve in the afternoon about what it will do with interest rates.

Canada's central bank cut its key lending rate to 2.25 percent on Wednesday, saying that while the economy has shown resilience in response to President Donald Trump's trade war, "the impact is becoming more evident."

talksThe United States and South Korea advanced trade talks on Wednesday, addressing details of $350 billion that would be invested in the American economy, after negotiations and ceremonies that included the presentation of a gold medal and crown to President Donald Trump.

Both were gifts from the country's president, Lee Jae Myung, who dialed up the flattery while Washington and Seoul worked to nail down financial promises during the last stop of Trump's Asia trip.

U.S. President Donald Trump on Wednesday said a trade deal with South Korea would be finalized soon, ahead of a meeting with the country's President Lee Jae Myung later in the day.

"Our deal with the Republic of Korea will be finalized very soon," he told delegates at the APEC CEO summit in the South Korean city of Gyeongju.

The United States and China are not going to resolve all the issues that divide them before presidents Donald Trump and Xi Jinping meet Thursday in Busan, South Korea.

China signed an expanded version of a free trade agreement Tuesday with the Association of Southeast Asian Nations, with Premier Li Qiang pitching expanded economic ties with Beijing as an alternative to the protectionist policies of U.S. President Donald Trump.

Li Qiang told an ASEAN-China summit meeting after the signing that closer cooperation could help overcome global economic uncertainties. He said "pursuing confrontation instead of solidarity brings no benefit" in the face of economic coercion and bullying, in a swipe at the U.S.