Donald Trump met with Chinese President Xi Jinping! Is the trade war coming to an end? Here are the details of the meeting.

U.S. President Donald Trump announced that he had a phone call with Chinese President Xi Jinping that lasted about 1.5 hours.

The main agenda item of the meeting was the new trade agreement recently reached between the two countries. Trump stated that the meeting produced positive results for both sides and that the complexities regarding rare earth elements had been addressed.

Trump stated in a post on social media, "I had a very productive phone call with Chinese President Xi. During this conversation, which lasted about an hour and a half, we discussed some sensitive points of the trade agreement we recently reached. The meeting concluded very positively for both countries. There should no longer be any questions regarding the complexities of rare earth products."

During the meeting, it was also stated that the representatives of the two countries will hold face-to-face meetings at a location to be determined shortly. The U.S. side will be represented by Treasury Secretary Scott Bessent, Secretary of Commerce Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer.

Trump also stated that President Xi invited him and his wife Melania Trump to China, and in response to this kind invitation, he invited Xi and his wife Peng Liyuan to the United States. Trump noted that the meeting focused almost entirely on trade issues, and other geopolitical matters such as Russia-Ukraine or Iran did not come up.

This phone call took place a few days after Trump accused China of violating the first trade agreement reached in May last week and the day after Xi stated on Truth Social that he is "extremely difficult to make a deal with."

As a result of the negotiations between the parties, it was decided that the customs duties imposed by the U.S. on Chinese imports would be reduced from 145% to 30%, while China would lower the tariffs on U.S. imports from 125% to 10%.

However, Trump expressed disappointment, saying that China had not fully fulfilled the requirements of the agreement. U.S. Trade Representative Jamieson Greer told CNBC, "The U.S. has done its part, but China is slow to remove the non-tariff barriers outlined in the deal. This is completely unacceptable and must be addressed," he said.

*This is not investment advice.

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