On Monday (November 24), U.S. President Donald Trump held a phone call with Chinese President Xi Jinping, marking their first exchange since last month’s summit.
During the call, the two leaders discussed trade issues, the situation in Taiwan, and the Russia-Ukraine conflict.
Trump described the call as “very good” and said the two had discussed China’s plans to purchase U.S. soybeans and other agricultural products, as well as cooperation to crack down on illegal fentanyl trafficking.
The U.S. President added that both sides agreed on his visit to Beijing in April 2026 and said he had invited Xi to make a state visit to the United States next year.
“U.S.–China relations are extremely strong. The two sides have made significant progress in regularly updating and ensuring the accurate implementation of agreements. Now we can focus on the bigger picture,” Trump wrote on the social media platform Truth Social.
According to a statement from China’s Ministry of Foreign Affairs, Xi emphasized to President Trump that the two countries should maintain the positive momentum in bilateral relations since their summit in South Korea last month and continue expanding cooperation.
The statement also noted that the two leaders exchanged views on the Russia-Ukraine conflict. Xi expressed hope that the parties involved could reach a binding peace agreement.
Under the trade truce reached during the U.S.–China summit in South Korea at the end of October, Washington reduced tariffs on certain Chinese imports, while Beijing agreed to lift several restrictions on rare-earth exports. Analysts believe any renewed tension in U.S.–China relations could increase uncertainty for global markets and corporate business plans.
Sources familiar with the matter told Bloomberg that during the call, the two leaders continued negotiating key details regarding China’s relaxation of rare-earth export controls. Both sides aim to finalize terms for the “general licensing” mechanism Beijing has pledged to apply to rare earths and other critical minerals exported to the U.S. this month.
Previously, China’s export restrictions had tightened global supplies of rare earths, placing industries worldwide—from automotive and consumer goods to robotics—at risk of production disruption.
The phone call took place as the Trump administration is once again considering whether to allow exports of advanced artificial intelligence (AI) chips to China. Trump floated the possibility ahead of his meeting with Xi in October, though it was not discussed during that encounter. Some of his advisers have warned that such deals could undermine America’s competitive edge in chip technology.
Also on November 24, in an interview with Bloomberg, U.S. Secretary of Commerce Howard Lutnick said that Trump was still consulting with “many different advisory groups” before deciding whether to allow the export of advanced AI chips to China.
“Those types of decisions go directly to the President’s desk. He is the one who decides,” Lutnick said.
On November 14, Trump said Washington was in talks with the Chinese government about increasing purchases of U.S. soybeans—another provision of the trade truce.
“They are in the process of doing it. We spoke with them today and they are moving forward. They won’t just buy a small amount—they will buy a very large amount of soybeans,” Trump said.
Under the agreement, China committed to purchase 12 million metric tons of U.S. soybeans from late October through January 2026, and then maintain about 25 million tons annually for the following three years.
Data from the U.S. Department of Agriculture (USDA) show that from late October to mid-November, China ordered about 1.8 million tons of U.S. soybeans, indicating that shipments are recovering after a period of paused purchases. However, doubts remain about whether Beijing will fully honor these commitments, especially given that bilateral tariffs are still high.
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