US President Donald Trump accused his Chinese counterpart, President Xi Jinping, of breaking a trade truce that brought down tariffs from extreme highs in early May. Investors saw the writing on the wall: tariffs would spike again,

President Donald Trump said Thursday that his first call with Chinese leader Xi Jinping since returning to office was “very positive,” announcing that the two countries will hold trade talks in hopes of breaking an impasse over tariffs and global supplies of rare earth minerals.

US President Donald Trump announced Friday a new round of trade talks with China in London next week, a day after calling Chinese counterpart Xi Jinping in a bid to end a bitter battle over tariffs.While Trump's long-awaited phone call with Xi this week likely paved the way for further high-level trade talks,