On June 5th, the presidents of the world's two largest economies spoke on the phone. Both sides discussed trade issues, especially how to advance the agreement reached in Geneva on May 12th. The call also came amid repeated U.S. accusations that China has not followed through on its promises to relax controls over rare earths, minerals that are essential for hi-tech products. What did the two presidents talk about? What signals are they sending to the world? And what are we to expect going forward?