“I hope we will have a lot of problems together, and from now on. We discussed the balance of trade, fentanyl, TikTok and many other issues. President Xi and I will do our best to make the world safer and non-violent!”
China’s state news agency Xinhua had first reported the call, which comes three days before Inauguration Day.
TIKTOK CEO TO ATTEND INAUGURATION WITH FRONT-ROW SEAT AT TRUMP’S INVITE
Chinese President Xi Jinping (left) and President-elect Donald Trump. (Xi Photo: Pedro Pardo – Pool/Getty Images | Trump Photo: Chip Somodevilla/Getty Images)
Trump had extended an invitation to Xi to attend the inauguration ceremony on Monday. Incoming White House press secretary Karoline Leavitt told Fox News Digital last month Trump hopes to create “an open dialogue with leaders of countries that are not just our allies but our adversaries and our competitors, too.”
Xi declined to attend, but he is sending one of his top representatives, Vice President Han Zheng, to Washington, D.C. in his stead.
China’s Foreign Ministry made the announcement Friday morning and the two leaders spoke, the South China Morning Post reported.
“We are in a position to dialogue and communicate with the new US government, properly address differences, expand mutually favorable cooperation, jointly pursue a stable, healthy and long-lasting relationship between China and the United States, and find the right path for both countries. . to achieve a mutually favorable relationship,” the ministry said.
XI JINPING WARNS TRUMP THAT ‘WE WILL LOSE IN CONFRONTATION’ WITH CHINA AS RENEWED TRADE WAR EVENTS
President-elect Trump has threatened to impose 60% price lists on all Chinese-made products imported into the United States (Al Drago/Bloomberg Getty Images)
During his election campaign, Trump threatened to impose price caps on Chinese-made goods, reigniting fears of an industrial war once he takes office. Today the question arises as to whether Trump will keep this promise amid deteriorating relations between the United States and Beijing.
China has been threatening U.S. allies like the Philippines, Japan and Taiwan in the South China Sea. They’ve been accused of sending Chinese nationals to spy on U.S. military bases and sent what was believed to be a surveillance balloon across the U.S.
While Trump ushered in an era of steep trade competition and increased support for Taiwan in his first term, President Biden did not necessarily warm the relationship.
Republicans are proposing a bill that would double price lists for Chinese imports and end favored industry status.
President Joe Biden shakes hands with Chinese President Xi Jinping before a bilateral meeting, Saturday, Nov. 16, 2024, in Lima, Peru. (Leah Millis/AP Pool Photo)
Trump raised price lists by at least 10% during his first term on goods worth more than $300 billion. Biden has not raised those price lists.
This is in addition to export controls on a variety of products that began under Trump and have been tightened under Biden.
If Trump successfully raises tariffs to 60%, it could reduce China’s exports by $200 billion and cause a one percentage point drag on GDP, said Zhu Baoliang, a former chief economist at China’s economic planning agency, at a Citigroup conference.
Last year, China exported about $500 billion in goods to the United States, or about 15% of all its exports.
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Officials from Trump’s transition team were reportedly in talks with the Chinese before Trump’s inauguration. Trump said previous this month that he idea he and Xi would “probably get along very well. ”
Xi Trump in November to congratulate him on his election victory and warned that the United States would “win from cooperation and lose from confrontation” with China.
Fox News Digital’s Morgan Phillips contributed to this report.
Chris Pandolfo is a breaking news reporter for Fox News Digital. Send advice to chris. pandolfo@fox. com and him on Twitter @ChrisCPandolfo.
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