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US President Donald Trump and Chinese President Xi Jinping on Monday held their first talks since agreeing to a tariff truce last month, discussing trade, Taiwan and Russia’s invasion of Ukraine. 
Trump said the telephone call was “very good” and that the leaders spoke about purchases of soybeans and other farm products as well as curbing shipments of illegal fentanyl. The US president said he agreed to visit Beijing in April, and that he had invited Xi for a state visit next year.

“Our relationship with China is extremely strong!” Trump posted on social media. “There has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture.”

But the US president’s readout of the call sidestepped one issue — the self-governing island of Taiwan — that was a central focus for Xi. The Chinese leader told Trump that the return of Taiwan to China is a key part of the post-World War II international order, according to a Chinese Foreign Ministry statement. Xi also said the two countries should keep the positive momentum generated during their meeting last month in South Korea and expand cooperation, the statement said.

The leaders also spoke about Russia’s invasion of Ukraine and Xi expressed hope for the two sides to reach a binding peace agreement, the ministry said. The call lasted an hour, White House Press Secretary Karoline Leavitt told reporters.

Today's show features:

• Bloomberg News Senior Editor for Technology & Strategic Industries Michael Shepard on the latest White House headlines as peace plans for Ukraine continue to stall, President Trump speaks with China’s Xi Jinping and the US continues to spar with the EU over tariffs.
• Jennifer Lee, Senior Economist and Managing Director of Economics at BMO Capital Markets, on expectations for this week’s late-arriving PPI and retail sales reports from September
• Bloomberg Intelligence Senior Technology Credit Analyst Robert Schiffman on Oracle investor scrutiny amid a debt spree to finance artificial intelligence investments
• Leo Kelly, CEO of Verdence Capital Advisors, on markets and the Federal Reserve’s path forward

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