The US Treasury Secretary expects a soon-to-come contact between Trump and Xi to address the pending trade issues.

U.S. Treasury Secretary Steven Mnuchin stated on Sunday, June 1st, that he expects Presidents Donald Trump and Xi Jinping to have a soon discussion to address trade issues between the two countries, including the rare earth metals file. Mnuchin made these remarks during his appearance on the "Face the Nation" program on CBS.

In response to a question about setting a date for the call, Mnuchin said, "I think we'll see something very soon," indicating that talks between the two sides may see progress in the near future.

Mnuchin's statements came after Trump accused China of "breaking the trade deal," following two weeks of talks that resulted in a temporary truce in the trade war between the two countries.

The Treasury Secretary acknowledged that progress since then has been "slow," but expressed his expectation of "further talks in the coming weeks."

Mnuchin explained, "I am confident that a solution will be found when President Trump speaks with President Xi. But the truth is that they are holding back some products they agreed to send during our deal... maybe it's a mistake in the Chinese system or maybe intentional, we will see when the President talks to Xi."

It is worth noting that the agreement reached between Washington and Beijing, which included reducing triple-digit tariffs for 90 days, led to a significant increase in global stock markets.

However, the agreement did not address the root causes that led Trump to impose tariffs on Chinese goods, which revolve around long-standing U.S. complaints about the Chinese economic model based on government dominance and heavy reliance on exports, meaning these issues will remain subject to future negotiations.