President Trump and Chinese leader Xi Jinping spoke on Thursday, with tariff and trade talks set to resume next week. Trump said Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet with Chinese counterparts in London on Monday.

Markets rose after the call on the notion that Trump would back down on the tariffs when they become too disruptive, but ended lower. “From an investor perspective in the short-term because there’s the view he will flip on his worst impulses,