Trump after conversation with Xi: US and China will resume trade talks

US President Donald Trump has said his phone discussions with Chinese leader Xi Jinping ended "very well" and that the two countries will resume trade talks, with the hope of reaching an agreement on tariffs and global supplies of rare earth minerals.

"Our respective teams will meet soon at a location to be determined," Trump wrote on his social network, Truth Social.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will represent the US side in the negotiations.

The Republican president said that Xi had "courtesily" invited him and First Lady Melania Trump to China, and that Trump had reciprocated his invitation to visit the United States.

China's Foreign Ministry said Trump initiated the call between the leaders of the world's two largest economies.

Trump stated the day before that it is difficult to reach an agreement with Xi.

"I like President Xi of China, always have, but he is very tough and extremely difficult to deal with," Trump wrote on Wednesday in a post on Truth Social.

Talks between the United States and China have stalled since an agreement was reached on May 12th for both countries to reduce tariffs on each other.

The US accuses China of not exporting rare earth minerals, while the Chinese government opposes the US decision to restrict the sale of advanced chips, and its approach to granting visas to Chinese students.

Trump has reduced tariffs on Chinese goods from 145 percent to 30 percent for 90 days to allow talks to take place.

China has reduced tariffs on American goods from 125 percent to 10 percent.

These short-term decisions have disrupted global markets and risk tightening trade conditions between the two countries./ REL