Trump, Xi hold ’very good’ call on trade

Investing.com -- Chinese President Xi Jinping and U.S. President Donald Trump held a phone call on Thursday, which was confirmed by both sides.

The conversation comes a day after Trump described the Chinese President as “tough” and “extremely hard to make a deal with.”

Following the call, Trump posted on Truth Social that the call was “very good”, signaling renewed engagement between the two countries on trade and rare earth supply chains.

The roughly 90-minute conversation centered on implementation of the recently agreed U.S.-China trade deal, with Trump describing the outcome as “a very positive conclusion for both Countries.” In a post on his Truth Social account, Trump emphasized that “there should no longer be any questions respecting the complexity of Rare Earth products,” suggesting that the nations reached some understanding over the critical materials widely used in electronics and defense systems.

While specific details of the trade agreement remain sparse, Trump indicated that high-level follow-up meetings are imminent. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer will lead the American delegation. The meeting’s location and timing are yet to be determined.

The President also noted that the discussion was focused exclusively on trade. “Nothing was discussed concerning Russia/Ukraine, or Iran,” he wrote.

Trump added that Xi had extended an invitation for a state visit to China, which he accepted and reciprocated. “As Presidents of two Great Nations, this is something that we both look forward to doing,” he said.

The call marks the latest attempt by Trump to solidify his economic policy platform, with trade taking center stage. The potential for rare earth cooperation, or reduced tension, comes amid ongoing global competition for these strategic resources.

Trump added that more information on the delegation’s travel and talks is expected to follow in the coming days.