Trump says call with Xi 'reached a very positive conclusion' ...Middle East

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Call resulted in a very positive conclusion for both countriesThere should no longer be any questions respecting the complexity of Rare Earth productsOur respective teams will be meeting shortlyConversation was focused on trade, no Ukraine or Iran

So they've scheduled trade talks, which at least means there is some kind of basis for moving forward and things should remain static in the interim.

Full text from Trump:

I just concluded a very good phone call with President Xi, of China, discussing some of the intricacies of our recently made, and agreed to, Trade Deal. The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both Countries. There should no longer be any questions respecting the complexity of Rare Earth products. Our respective teams will be meeting shortly at a location to be determined. We will be represented by Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer. During the conversation, President Xi graciously invited the First Lady and me to visit China, and I reciprocated. As Presidents of two Great Nations, this is something that we both look forward to doing. The conversation was focused almost entirely on TRADE. Nothing was discussed concerning Russia/Ukraine, or Iran. We will inform the Media as to scheduling and location of the soon to be meeting. Thank you for your attention to this matter!

This isn't exactly a 'breakthrough' and I suspect many in the market were hoping for something more tangible in terms of some kind of tariff relief.

This article was written by Adam Button at www.forexlive.com.

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