The following is the full government readout from China of the Trump-Xi phone call via Xinhua:
Xi says dialogue, cooperation only correct choice for China, U.S. in phone call with Trump
BEIJING, June 5 (Xinhua) — Chinese President Xi Jinping said on Thursday that dialogue and cooperation are the only correct choice for China and the United States.
In the phone talks initiated by U.S. President Donald Trump, Xi said that recalibrating the direction of the giant ship of China-U.S. relations requires the two sides to take the helm and set the right course, adding that it is particularly important to steer clear of the various disturbances and disruptions.
Noting that at the suggestion of the U.S. side, the two countries’ lead officials recently held an economic and trade meeting in Geneva, Xi said it marked an important step forward in resolving the relevant issues through dialogue and consultation, and was welcomed by both societies and the international community.
The two sides need to make good use of the economic and trade consultation mechanism already in place, and seek win-win results in the spirit of equality and respect for each other’s concerns, he said, adding that the Chinese side is sincere about this, and at the same time has its principles.
The Chinese, Xi said, always honor and deliver what has been promised, urging both sides to make good on the agreement reached in Geneva. In fact, China has been seriously and earnestly executing the agreement, Xi added.
The U.S. side should acknowledge the progress already made, and remove the negative measures taken against China, he said.
The two sides should enhance communication in such fields as foreign affairs, economy and trade, military, and law enforcement to build consensus, clear up misunderstandings, and strengthen cooperation, Xi added.
Xi emphasized that the United States must handle the Taiwan question with prudence, so that the fringe separatists bent on “Taiwan independence” will not be able to drag China and the United States into the dangerous terrain of confrontation and even conflict.
Trump said that he has great respect for Xi, and the U.S.-China relationship is very important.
The United States wants the Chinese economy to do very well, and the United States and China working together can get a lot of great things done, he said.
Trump said the United States will honor the one-China policy.
The meeting in Geneva was very successful and produced a good deal, he said, adding that the United States will work with China to execute the deal.
The United States loves to have Chinese students coming to study in America, Trump said.
Xi welcomed Trump to visit China again, for which Trump expressed heartfelt appreciation.
The two presidents agreed that their teams should continue implementing the Geneva agreement and hold another round of meeting as soon as possible.
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As is typical in bureaucratic speak for mass public consumption, the big issues are always obfuscated and one has to dig into Chinese language and website interpretations for some clues. The following posting on X by the use Shanghai Macro Strategist provides some great insight:
Yuyuantantian, a media outlet affiliated with China’s state broadcaster, just published an article offering Beijing’s perspective on the Trump-Xi call that took place yesterday.
— Shanghai Macro Strategist (@ShanghaiMacro) June 6, 2025
The piece sheds light on President Xi’s remark during the call: “The US side should acknowledge the…
The translation and readout from the Yuyuantantian website has one fascinating section which indicates that Trump’s going to have a problem in getting concessions from China during this phase of his trade war:
The key to the problem is that instead of reflecting on itself, the US side has broken the consensus by saying that China has undermined the consensus. This is not “truth”.
Here, it is necessary to say that the United States smears and smears China’s rare earth export control card around the world. The United States 倒打一耙 ,
Rare earth and other related items have obvious dual-use attributes, and the export control of them is an international practice. It is non-discriminatory and does not target specific countries.The United States itself has to take a seat on the number, which just shows that the United States is accustomed to “tooling” science and technology issues and “instrumentation” of export control.
“Truth-seeking” means that the United States will gradually withdraw negative measures, including tariff measures such as “301 tariffs”, “232 tariffs”, “fentanyl tariffs” and various non-tariff measures.
The emphasis is from the authors of the article, not myself for once.
Apparently going at Trump by demanding all tariffs, including potentially those from 2018 is a new approach that the President is not used to. Unlike a small contractor or local New Jersey Mayor, Trump is about to find out that he can not push around China and this trade conflict, if allowed to persist will create massive economic problems for the US. It is quite apparent that they have learned about how to negotiate and deal with Trump’s impulsiveness and occasional fits of rage which they are now using to their advantage.
Unfortunately for Trump, he decided to open up a multi-front trade war without any aces up his sleeves or an international alliance to counter China. This major blunder, in addition to his almost daily outbursts, has provided an insight to other perceived US trade adversaries in Asia and beyond that Trump might be nothing more than a paper tiger.
