President Donald Trump has offered to travel to China to meet with President Xi Jinping.
What Happened: In an interview with Fox News aired on Friday, Trump was asked if he wanted to speak with Xi on a foreign trip. In response, he said, "I would certainly," adding that the relationship between the two countries is "important," reported Bloomberg.
Earlier this week, the President had also hinted that the two leaders could speak by phone following a 90-day trade truce agreement, which slashed U.S. tariffs on Chinese goods from 145% to 30%. China has also lowered its own duties on American imports to 10%.
See Also: Wall Street Rips Higher As Tariff Truce Halts US–China Economic Escalation
Why It’s Important: Despite his latest outreach attempt, Trump made it clear that his trip to Saudi Arabia, Qatar and the UAE was aimed at preventing those nations from aligning with Beijing, the report noted.
"They were going to China, and that was going to be their parent, and that's not happening," Trump said, adding, "They're very important to keep in our fold."
During his trip to the Middle East, Trump was able to secure around $2 trillion in trade and investment commitments.
The SPDR S&P 500 ETF Trust (NYSE:SPY) ended the week up 2.16%, while semiconductor stocks continued their upward momentum, with the iShares Semiconductor ETF (NASDAQ:SOXX) climbing 3.06% in the last five days, according to data from Benzinga Pro.
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