Trump holds call with Xi, Chinese media says

According to Chinese media outlet Xinhua, President Donald Trump had a phone conversation with President Xi Jinping of China. The call was initiated by Trump, as confirmed by Beijing’s Ministry of Foreign Affairs. The White House did not immediately respond to CNBC’s request for comment. U.S. stock futures saw an increase upon news of the call. Trump has been keen to speak with Xi amidst strained trade relations between the two nations. The recent progress in trade talks between Washington and Beijing has been jeopardized. The Trump administration has accused China of delaying its promise to approve more critical mineral exports. On the other hand, China is frustrated with new visa restrictions on Chinese students and warnings against using Chinese semiconductors. Additional export restrictions on chips have been imposed by the U.S., citing national security concerns, while Beijing views them as punitive measures. This call marks the second time the two leaders have spoken one-on-one this year, with the previous call taking place on Jan. 17. Kindly refresh for any updates.