What Happened: U.S. President Donald Trump has said he would "soon" have a phone call with Chinese President Xi Jinping and added that face-to-face negotiations are set to resume next month, the Financial Times reported Aug. 15.
Why It Matters: The White House is adopting a seemingly conciliatory tone with its outreach to China on trade issues. However, both sides could headed for renewed confrontation on Aug. 19, when the Trump administration will have to decide whether to extend licenses for businesses to continue working with Huawei. The topic has been a key sticking point in trade talks, with China having refrained from additional agricultural purchases over the issue.
Background: The Trump administration recently decided to delay some new import tariffs on Chinese products until Dec. 15, although the Chinese government signaled Aug. 15 that it considers the U.S. concessions insufficient.