President Trump and Chinese leader Xi Jinping spoke on Thursday, and both countries pledged to restart tariff and trade talks in the coming days. Trump hailed the call as "positive," with both leaders inviting the other to visit their respective countries.

The US and Chinese leaders have spoken amid stalled negotiations between both countries over tariffs that have roiled global trade.

President Trump spoke to China's Xi Jinping about trade, CBS News has confirmed. This comes as Mr. Trump accused China of violating an initial agreement and as the administration targets international student visas.

China mines about 70% of the world's rare earths but has a virtual monopoly on refining and processing. Even if the pace of export approvals quickens as Trump suggested, the new system gives Beijing unprecedented glimpses of how companies in a supply chain deploy the rare earths it processes, European and U.S. executives have warned.

Markets cheered in early May when the US and China agreed in Geneva to lower tariffs and other barriers. But after a few weeks, the shine started to come off that deal, with China accusing the US of violating it with new restrictions and the US saying China failed to honor promises on rare earths.

The scramble in recent weeks to secure export licences for rare earths shows China has devised a better, more precisely targeted weapon for trade war.

Donald Trump has suggested the US could hit Ukraine, as well as Russia, with sanctions unless a peace deal is reached. Diary entries written by Luigi Mangione reveal the now 27-year-old’s detailed thinking before the killing of UnitedHealthcare CEO Brian Thompson last year, a new court filing shows.

At the center of the latest trade storm between the U.S. and China is He Lifeng. Since He became vice premier in early 2023, China's leader Xi Jinping has essentially put him in charge of fortifying the nation’s economy against the effects of U.

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.