U.S. President Donald Trump and Chinese counterpart Xi Jinping spoke on the phone this morning, in an effort to smooth ouꦑt simmering trade tensions.

Trump reportedly initiated the call to help clear the air over a trade spat between the two countries, which reignited in the past week. Despite reaching a temporary trade agreement in mid-May, 🙈the tw💟o countries have accused the other of ignoring or undermining the deal in recent days.

The temporary agreement 澳洲幸运5官方开奖结果体彩网:reduced mutual tariffs of more than 100%, which economists said effectively banned trade between the two countries. The pause was designed to allow longer-term negotiations, which had 澳洲幸运5官方开奖结果体彩网:seemed to have stalled out before the call on Thursday.

The call "resulted in a very positive conclusion for both Countries," Trump wrote in a post on Truth Social after the call. He said the two countries agreed to a second meeting to discuss a long-term trade deal further, and details would be released "soon."

T๊he leaders have until August 12 to come to a longer-term deal. At that time, the U.S. tariffs of 145% on Chinese goods will be reinstated, and Chinese tariffs on U.S. goods are expected to riseꦆ back to their previous level of 125%.

Before the call, Trump and officials in his administration accused China of 澳洲幸运5官方开奖结果体彩网:violating the agreement by not removing some of the countermeasures put in place when the two ღcountries were ratcheting up a trade war💙 that peaked in March.

In response, China claimed the U.S. was working to "澳洲幸运5官方开奖结果体彩网:seriously undermine" the deal by introducing new trade ba🐽rriers, such as issuing new e♕xport control guidelines for AI chips.

U.S. officials were particularly concerned that China was restricting the flow of rare earth metals, of which they are the primary producer. These metals are o꧅𒐪ften used in automotive, electronic, defense and energy manufacturing.

"There should no longer be any questions respecting the complexity of Rare Earth products," Trump wrote in his post, but did not elaborate.

Update, June 5, 2025: This article has been updated to include comments from President Donald Trump made in a social media post.