Trump, China’s Xi speak on phone ahead of inauguration

President-elect Trump confirmed Friday that he spoke with Chinese President Xi Jinping days before Trump will be inaugurated into office.

“I just spoke to Chairman Xi Jinping of China. The call was a very good one for both China and the U.S.A.,” Trump posted on Truth Social.

“It is my expectation that we will solve many problems together, and starting immediately. We discussed balancing Trade, Fentanyl, TikTok, and many other subjects. President Xi and I will do everything possible to make the World more peaceful and safe!”

China’s state news agency Xinhua had first reported the call, which comes three days before Inauguration Day.

TIKTOK CEO TO ATTEND INAUGURATION WITH FRONT-ROW SEAT AT TRUMP’S INVITE

Trump had extended an invitation to Xi to attend the inauguration ceremony on Monday. Incoming White House press secretary Karoline Leavitt told Fox News Digital last month Trump hopes to create “an open dialogue with leaders of countries that are not just our allies but our adversaries and our competitors, too.”

Xi declined to attend, but he is sending one of his top representatives, Vice President Han Zheng, to Washington, D.C. in his stead. 

China’s foreign ministry made the announcement Friday morning before the two leaders spoke, the South China Morning Post reported.

“We stand ready to work with the new US government to enhance dialogue and communication, properly manage differences, expand mutually beneficial cooperation, jointly pursue a stable, healthy and sustainable China-US relationship, and find the right way for the two countries to get along,” the ministry said.

XI JINPING WARNS TRUMP US WOULD ‘LOSE FROM CONFRONTATION’ WITH CHINA AS RENEWED TRADE WAR LOOMS

On the campaign trail, Trump threatened to slap steep tariffs on Chinese-made products, renewing fears of a trade war once he assumes office. Now questions abound whether Trump will keep that promise amid deteriorating U.S. relations with Beijing. 

China has been threatening U.S. allies like the Philippines, Japan and Taiwan in the South China Sea. They’ve been accused of sending Chinese nationals to spy on U.S. military bases and sent what was believed to be a surveillance balloon across the U.S.

While Trump ushered in an era of steep trade competition and increased support for Taiwan in his first term, President Biden did not necessarily warm the relationship. 

REPUBLICANS PROPOSE BILL THAT WOULD DOUBLE TARIFFS ON CHINESE IMPORTS AND END FAVORED TRADE STATUS

Trump increased duties by at least 10% during his first term on over $300 billion worth of goods. Biden did not lift those tariffs. 

That was on top of export controls on a variety of items that started under Trump and furthered under Biden.

If Trump successfully raises tariffs to 60%, it could reduce China’s exports by $200 billion and cause a one percentage point drag on GDP, said Zhu Baoliang, a former chief economist at China’s economic planning agency, at a Citigroup conference. 

Last year, China exported about $500 billion worth of goods to the U.S., about 15% of all of its exports. 

Officials with the Trump transition team have reportedly been in talks with the Chinese government ahead of Trump’s inauguration. Trump said earlier this month that he thought he and Xi would “probably get along very well.” 

Xi had called Trump in November to congratulate him on his election win and had warned the U.S. would “gain from cooperation and lose from confrontation” with China.