Trump dials Xi amid stalled talks, rare earth supply chain upheaval

President Donald Trump said his conversation with Chinese leader Xi Jinping had a “very positive conclusion” on Thursday, announcing that the two countries will hold trade talks in hopes of breaking an impasse over tariffs and global supplies of rare earth minerals.

It was the first call between the two men since Trump took office for his second term more than four months ago.

“Our respective teams will be meeting shortly at a location to be determined,” Trump wrote on his social media platform.

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

The Republican president also said Xi “graciously” invited him and first lady Melania Trump to China, and Trump reciprocated with his own invitation for Xi to visit the United States. The Chinese foreign ministry said Trump initiated the call between the leaders of the world’s two biggest economies.

Xi asked Trump to “reverse the negative measures” that the US has taken against China. It also reported that Trump said Chinese students were welcome to study in the US.

The US accuses China of not exporting critical minerals, and the Chinese government objects to America restricting its sale of advanced chips and its access to student visas for college and graduate students.

Trump has lowered his 145% tariffs on Chinese goods to 30% for 90 days to allow for talks. China also reduced its taxes on US goods from 125% to 10%.

Disappointed in Musk: US Prez

Trump lashed out on Thursday against Elon Musk, saying he was “disappointed” by the billionaire’s public opposition to the sweeping tax-cut and spending bill that is at the heart of Trump’s agenda.

“Look, Elon and I had a great relationship. I don’t know if we will anymore,” Trump said in the Oval Office. “He said the most beautiful things about me, and he hasn’t said bad about me personally, but I’m sure that'll be next. But I’m, I’m very disappointed in Elon. I’ve helped Elon a lot.”

Trump asserted that Musk’s days of blistering attacks on the bill were motivated by the proposed elimination of consumer tax credits for electric vehicles. Musk said Trump would not have won the election without him.