It looks like U.S.-China trade tensions may be cooling off – at least for now.

Overnight, President Trump struck a surprisingly upbeat tone on Truth Social, writing: “Don’t worry about China, it will all be fine… The U.S.A. wants to help China, not hurt it.”

That’s a sharp turn from just days ago – when Trump threatened 100% tariffs on Chinese imports. Beijing quickly vowed to hit back, warning of “corresponding measures” if the U.S. moves ahead.

The threats follow China’s new export restrictions on rare earth minerals – materials critical for tech and EVs – reigniting fears of a repeat of last spring’s trade war that sent tariffs soaring above 100%.

China says its stance hasn’t changed: “We don’t want a tariff war, but we’re not afraid of one.”Now all eyes are on whether Trump and President Xi will still meet later this month in South Korea – a meeting that could either revive trade talks or send them back to square one. 

U.S. Treasury Secretary Scott Bessent told Fox News that the meeting is still on track – and that’s good enough for stocks, which have been on edge but are trying to bounce back in early trading Monday.

That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.