Key Takeaways:
- Trump and Chinese President Xi Jinping held a call to discuss the ongoing trade war.
- This is a major development after months of stalled negotiations.
- The markets are closely watching for updates on the conversation.
- No official details about the call’s outcome have been released yet.
The U.S.-China trade war just took a dramatic turn. President Donald Trump and Chinese President Xi Jinping have reportedly spoken on the phone to address the escalating tariffs and tensions between the two nations. This call comes after months of stalled negotiations and rising concerns about the global economy.
A Surprise Move in the Trade War
CNN reported that the call happened or was ongoing as of Thursday morning. According to sources, President Trump and President Xi were in direct communication, marking a significant step in resolving the trade dispute. The White House has yet to confirm the details of the conversation, but Chinese state media has already begun reporting on the call.
This development is crucial because it shows both leaders are willing to engage directly. For months, Trump administration officials have pushed for a direct conversation between the two presidents, believing it could break the deadlock in trade talks.
Why This Call Matters
The U.S. and China have been locked in a trade war for years, with both countries imposing tariffs on each other’s goods. The tariffs have impacted businesses, consumers, and markets worldwide. A direct call between Trump and Xi could signal a shift in negotiations.
“This is a huge development,” said CNN’s White House correspondent Alayna Treene. “The Trump administration has been pushing for this call for months. They believe direct communication between the two leaders is key to resolving the trade impasse.”
What Happened During the Call?
Details of the conversation are still scarce. However, it’s clear that the call focused on the trade war and finding a path forward. The White House has not provided an official statement, but sources suggest the discussion was an attempt to restart stalled talks.
CNN anchor John Berman called the news “a very big deal” and noted that markets will be closely watching for any updates. “The markets, which open in 28 minutes, will want to get a readout of this conversation,” Berman said. “Was it positive? Did it move the ball on any of the thorny issues between these two countries?”
Markets on Edge
The U.S. stock market has been volatile in recent weeks due to trade tensions. Investors are hopeful that the call between Trump and Xi could lead to progress and ease some of the uncertainty.
“Markets hate uncertainty, and this trade war has created a lot of it,” said one financial analyst. “If this call leads to meaningful progress, we could see a positive reaction from the markets.”
What’s Next?
While the call is a positive step, it’s unclear if it will lead to a resolution. Both sides have dug in their heels over issues like tariffs, intellectual property theft, and trade imbalances.
For now, the world waits. The outcome of this call could shape the future of U.S.-China relations and have far-reaching impacts on the global economy.
Stay tuned for updates as more details emerge.