Mr. Trump said in a post on Truth Social that his call with Xi Jinping, China’s top leader, had focused entirely on the trade relationship between the nations, which has soured in recent months in a dispute over the export of critical minerals used in an array of industries.

A key component of the Biden administration’s China strategy was a focus on bolstering ties with allies and partners to counter Beijing’s growing global footprint. Trump’s approach to China — and the rest of the world — hinges on tariffs and trade. How effective is that?

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.