Xi Jinping Says US-China Trade Relations Maintain Positive Momentum As Trump Considers Allowing Nvidia AI Chip Sales To Beijing

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On Monday, Chinese President Xi Jinping highlighted the ongoing progress in U.S.-China trade ties after a phone call with President Donald Trump. This comes after it was reported that Washington is considering allowing Nvidia Corp (NASDAQ:NVDA) to resume AI chip sales to China.

Xi Jinping Highlights Positive Trade Momentum

During Monday's call, Xi told Trump that US-China trade relations have maintained a positive momentum and stressed that both nations should expand their list of cooperation, according to China's Ministry of Foreign Affairs.

The phone call, not previously disclosed, follows a framework agreement reached by the two leaders in South Korea in October, aiming to ease lingering trade tensions.

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Trump Praises Relationship And Trade Progress

Taking to Truth Social, Trump described the call as "very good" and said it covered a wide range of topics, including Ukraine/Russia, fentanyl and U.S. farm products such as soybeans.

He highlighted that the conversation was a follow-up to the South Korea meeting, adding, "Our relationship with China is extremely strong! ... We agreed that it is important that we communicate often, which I look forward to doing."

Trump also said that he would visit Beijing in April at Xi's invitation and had extended an invitation to Xi for a U.S. state visit later this year.

Source: Truth Social

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The South Korea framework, agreed on Oct. 30, included Washington's commitment to avoid imposing 100% tariffs on Chinese imports and Beijing's promise to hold off on export licensing restrictions for crucial rare earth minerals.

Nvidia Could Reenter The Chinese Market

This came after it was reported that the Trump administration is considering allowing Nvidia to resume sales of its high-end H200 AI chips to China.

The Commerce Department is reviewing previous restrictions that blocked these exports due to national security concerns.

Nvidia CEO Jensen Huang previously said the company's China business had collapsed, with its market share plunging from 95% to zero under the export bans, calling the situation not ideal for anyone.

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This article Xi Jinping Says US-China Trade Relations Maintain Positive Momentum As Trump Considers Allowing Nvidia AI Chip Sales To Beijing originally appeared on Benzinga.com