US and China set to resume trade talks on Monday
The US and China have been engaged in a bruising trade war that's lasted for months, but there may be signs of a thaw. US President Donald Trump has held a phone call with his Chinese counterpart and says negotiators from the two sides will sit down for talks on Monday.
Trump wrote on social media Friday that his treasury secretary, commerce secretary and trade representative will take part. The meeting will be held in London.
He had previously complained that China is violating a trade deal that was agreed to just last month. His administration also says China is holding up exports of rare-earth materials.
However, he has struck a different tone since the call with President Xi Jinping on Thursday. He said relations are back on track and negotiations for the trade deal are in "good shape."
Reuters has quoted sources as saying the rare-earths issue may be easing as well. It says China has granted temporary export licenses to the entities that supply the top three US automakers.
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