President Donald Trump recently engaged in a phone conversation with Chinese President Xi Jinping, according to a report by the Chinese state media outlet Xinhua, published on Thursday.
The call was initiated by Trump, as stated by Beijing’s Ministry of Foreign Affairs in an official communication.
The White House has yet to provide a response to inquiries from Finance Newso regarding this report.
On the announcement of the call, U.S. stock futures recorded an uptick.
Trump has been keen to communicate with Xi amidst escalating tensions in trade relations between the two nations over the past week, according to sources.
In the wake of recent constructive discussions in Switzerland last month, Washington and Beijing had momentarily agreed to reduce tariffs on each other’s goods; however, this fragile truce now appears to be at risk.
The Trump administration has publicly criticized China for allegedly delaying its commitment to permit the export of essential minerals, which emerged from the negotiations in Geneva.
Additionally, the Trump administration has implemented further export restrictions on semiconductor chips. While the White House asserts that these measures are necessary for national security, Beijing interprets them as acts of punishment.
This marks only the second instance this year that the two leaders have engaged in a direct call, the first taking place on January 17, prior to Trump’s inauguration.
This is breaking news. Please refresh for updates.
— Finance Newso’s Evelyn Cheng and Christina Wilkie contributed to this report.
