US and China set to resume trade talks on Monday

US President Donald Trump has held a phone call with his Chinese counterpart and said negotiators from the two sides will sit down for talks on Monday. Trump wrote on social media Friday that his treasury secretary, commerce secretary and trade representative will take part.

The meeting will be held in London. However, he has struck a different tone since the call with President Xi Jinping on Thursday. He said relations are back on track and negotiations for the trade deal are in "good shape." A media has quoted sources as saying the rare-earths issue may be easing as well. It says China has granted temporary export licenses to the entities that supply the top three US automakers.