President Donald Trump says he has an “agreed to” trade deal with China and has agreed to more tariff talks amid a trade standoff and concerns over rare earths, accepting an invitation to visit China in a Thursday call with Xi Jinping.
“I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, trade deal,” Trump wrote Thursday on Truth Social.
“The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both countries.”
Trump said a future meeting between senior leaderships of both countries will come shortly.
“There should no longer be any questions respecting the complexity of rare-earth products,” he continued. “Our respective teams will be meeting shortly at a location to be determined. We will be represented by Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer.”
Trump has also accepted an Xi invitation to China, he said.
“During the conversation, President Xi graciously invited the first lady and me to visit China, and I reciprocated,” Trump wrote.
“As presidents of two great nations, this is something that we both look forward to doing.”
Trump made a special note that wars in Ukraine and the Middle East were not discussed, just one day after a call with Russia’s Vladimir Putin made breaking news about a vow to retaliate with a strike on Ukraine after its neighbor launched a drone strike on its nuclear bombers.
“The conversation was focused almost entirely on trade,” Trump concluded. “Nothing was discussed concerning Russia/Ukraine, or Iran.
“We will inform the media as to scheduling and location of the soon to be meeting.
“Thank you for your attention to this matter!”
Trump and Xi spoke at a time when stalled tariff negotiations between their two countries have roiled global trade.
The conversation was confirmed by the Chinese foreign ministry, which said Trump initiated the call.
Trump had declared one day earlier it was difficult to reach a deal with Xi.
“I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!” Trump posted Wednesday on his social media site.
Trade negotiations between the United States and China stalled shortly after a May 12 agreement between the two countries to reduce their tariff rates while talks played out. Behind the gridlock has been the continued competition for an economic edge.
The U.S. accuses China of not exporting critical minerals, and the Chinese government objects to America restricting its sale of advanced chips and its access to student visas for college and graduate students.
Trump has lowered his 145% tariffs on Chinese goods to 30% for 90 days to allow for talks. China also reduced its taxes on U.S. goods from 125% to 10%. The back and forth has caused sharp swings in global markets and threatens to hamper trade between the two countries.
Treasury Secretary Scott Bessent had suggested that only a conversation between Trump and Xi could resolve these differences so that talks could restart in earnest. The underlying tension between the two countries may still persist, though.
Even if negotiations resume, Trump wants to lessen America’s reliance on Chinese factories and reindustrialize the U.S., whereas China wants the ability to continue its push into technologies such as electric vehicles and artificial intelligence that could be crucial to securing its economic future.
The United States ran a trade imbalance of $295 billion with China in 2024, according to the Census Bureau. While the Chinese government’s focus on manufacturing has turned it into a major economic and geopolitical power, China has been muddling through a slowing economy after a real estate crisis and coronavirus pandemic lockdowns weakened consumer spending.
Trump and Xi had last spoken in January, three days before Inauguration Day. The pair discussed trade then, as well as Trump’s demands that China do more to prevent the synthetic opioid fentanyl from entering the United States.
Trump had long expressed optimism about the prospects for a major deal, before his post suggesting Xi was making that difficult. Last week, Trump went further, posting, “The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” Trump posted. “So much for being Mr. NICE GUY!”
Information from The Associated Press was used to compile this report.
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