Rising hopes of easing tensions in the trade war between the US and China.
Donald Trump's signalling a potential U-turn, saying the 145% tariffs on Chinese goods are "very high" and will "come down substantially".
But the two countries are yet to hold any formal trade talks.
Economist Doug Holtz-Eakin —a former adviser to John McCain— told Mike Hosking if Trump keeps waiting for Xi Jinping's call, he'll be waiting a long time.
He says China has no reason to come to the table, and intermediaries will need to get involved to get both sides talking.
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The Mike Hosking Breakfast