Topline
President Donald Trump and Chinese President Xi Jinping spoke over the phone for more than an hour Thursday, Trump said on Truth Social, offering vague details of the call’s conclusion but striking an optimistic tone about the progress of the superpowers’ relationship.
President Donald Trump walks to board Marine One at the White House in Washington, D.C. on May 30, … More
Key Facts
Trump mostly described the approximately 90-minute call in general terms, writing that it was “very good” and “resulted in a very positive conclusion for both Countries.”
Addressing his administration’s main sticking point about the state of economic relations between the two countries, Trump said “there should no longer be any questions respecting the complexity of Rare Earth products,” though it’s unclear what the resolution might be.
The Trump administration has expressed concerns China could be deliberately violating the agreement reached in Geneva to reduce their tariffs on each other by continuing to impose export controls on seven types of rare earth minerals, with Treasury Secretary Scott Bessent telling CBS on Sunday “maybe it’s a glitch in the Chinese system, maybe it’s intentional . . . we’ll see after the president speaks with the party chairman.”
The Chinese Embassy said earlier Thursday Trump initiated the call, which comes weeks after after Trump sharply reduced the tariff rate he imposed on China earlier this year, but has taken other actions targeting China, including revoking visas for Chinese students in the U.S.
Trump has been angling for a phone call with Xi for months and the White House said earlier in week the talks were “likely” to happen in the coming days.
Trump expressed his frustration with Beijing on Wednesday, writing on Truth Social that Xi “is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!” though it’s unclear what exactly Trump might have been referring to.
What To Watch For
Trump said he and Xi agreed their governments would meet again soon, though it’s unclear where or when. He also said the two extended invitations to each other and their spouses to visit.
Key Background
The meeting comes after Trump on May 12 agreed to reduce tariffs on China from 145% to 30% and China lowered tariffs from 125% to 10% as part of a 90-day truce between the two trade parters. Both have accused each other of violating the terms of the agreement, with China expressing concern about the U.S. targeting student visas and imposing export controls on artificial intelligence microchips.
Further Reading
Trump Says Xi Is ‘Very Tough And Extremely Hard To Make A Deal With’ (Forbes)
Trump’s Steel Tariff Hike Takes Effect—Here Are The 22 Times He’s Changed His Mind On Tariffs (Forbes)
Trump Accuses China Of Violating U.S. Trade Agreement (Forbes)
Read the full article here