Trump, Xi agree to renew trade talks

US President Donald Trump and Chinese President Xi Jinping have agreed to resume trade negotiations following a 90-minute call that Bloomberg reported covered key disputes over tariffs and rare earth supplies. Trump said additional talks would occur soon, with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer to lead the US delegation. While Trump expressed optimism, questions remain over China’s export controls on rare earth magnets and potential US concessions. Xi reportedly called on the US to lift negative measures, while also inviting Trump to visit China. Markets reacted cautiously, with limited movement in US equities. The talks mark a tentative reset amid continued uncertainty over long-term trade peace.