Palin, the former Republican vice presidential nominee, said she and Trump shared similar ideas for improving the U.S. economy, while Trump called Palin a "terrific woman and a terrific friend" whom he hoped would seek the Republican presidential nomination.
Their 15-minute meeting, part political parley and part reality TV show, capped the third day of Palin's bus trip through historic sites along the East Coast. Palin has said she is considering joining the field of Republican candidates vying to challenge President Barack Obama next year.
Earlier, Palin, her husband, Todd, and several family members toured sites in Pennsylvania, including the Gettysburg Civil War battlefield and Philadelphia's Independence Hall.
Trump, the multimillionaire host of the reality show "Celebrity Apprentice" who mused about a presidential bid himself before dropping out of the running earlier this month, made headlines painting the U.S. as a country in decline. He criticized China for unfair trade practices and said the U.S. under Obama had become a "laughing stock" to the rest of the world.
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