Chinese ETFs and ADRs jumped in premarket trading. Li Auto up 6%; YINN up 3.8%; KE Holdings up 2.8%; Alibaba, NIO, XPeng up around 1%.

US President Donald Trump and Chinese President Xi Jinping are likely to speak this week, the White House said.

“I can confirm that the two leaders will likely talk this week,” White House Press Secretary Karoline Leavitt told reporters on Monday. She did not provide a date for what she said was a “potential” call nor guarantee one would occur.

Washington and Beijing have traded accusations that each has violated the terms of last month’s broad agreement that saw both sides reduce tariffs from astronomical highs. The barbs have threatened to undo the fragile truce, which would provoke fresh worries for global markets.

Top Trump economic adviser Kevin Hassett signaled Sunday the White House was anticipating a call this week with the Chinese leader.

“President Trump, we expect, is going to have a wonderful conversation about the trade negotiations this week with President Xi. That’s our expectation,” Hassett said on ABC’s This Week.