Trade Tango: US-China Tariff Talks Aim for Reset

In a significant turn of events, the United States and China have agreed to reopen tariff talks that could signal a new phase in their often tumultuous trade relationship. President Donald Trump and Chinese leader Xi Jinping engaged in crucial dialogue amid global concerns over rare earths and technology outputs.

The call, initiated by President Trump, was confirmed by China's foreign ministry, though specifics from the White House remain undisclosed. Central to these discussions are accusations between the two nations, with the US claiming China limits critical mineral exports, while China challenges US restrictions on chip sales and student visas.

Both countries have temporarily scaled back tariffs—Trump reducing US tariffs on Chinese goods, and China lowering taxes on American products. Market volatility reflects the gravity of these negotiations, which also touch on broader strategies like Trump's push for US reindustrialization and China's technological advancements.

(With inputs from agencies.)