United States president Donald Trump and Chinese leader Xi Jinping spoke in a leader-to-leader call on Jun. 5.
Major U.S. stock indexes were higher.
Thursday's call came at Trump's request, China said via its state media, according to Reuters.
It is not clear when the two men last spoke.
Both sides said they spoke on Jan. 17, days before Trump's inauguration.
Trump has repeatedly said he had spoken to Xi since taking office on Jan. 20.
However, China had said that the two leaders had not had any recent phone calls.
Invited each other to respective countries
Both leaders though have agreed to further talks between the countries to hash out differences on tariffs, according to summaries of their phone call by the U.S. and the Chinese.
A summary of the meeting by both sides also said the leaders had invited each other to their respective countries at a future date.
The Chinese government said in a statement carried by the official Xinhua news agency that the U.S. should take a "realistic view" of the progress made and "withdraw the negative measures imposed on China".
"Xi Jinping welcomed Trump's visit to China again, and Trump expressed his sincere gratitude," it added.
No clarity if major issues resolved
The highly anticipated call came in the middle of a dispute between Washington and Beijing in recent weeks over "rare earths" minerals.
The disagreement has threatened the fragile truce in the trade war between the two biggest economies, Reuters reported.
There was no clarity if the issue has been resolved.
But Trump appeared emphatic post-call.
"There should no longer be any questions respecting the complexity of Rare Earth products," Trump wrote on social media. "Our respective teams will be meeting shortly at a location to be determined."
"The conversation was focused almost entirely on TRADE. Nothing was discussed concerning Russia/Ukraine, or Iran," Trump wrote.
Trump noted that the call was "very good" and lasted about one-and-a-half hours, resulting in a "very positive conclusion for both countries".
He added that his team will meet with their Chinese counterparts "shortly at a location to be determined", he said on social media.
Background
The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs, which were placed on each other following Trump's January inauguration.
The temporary deal did not address the illicit fentanyl trade, the status of Taiwan and U.S. complaints about China's state-dominated, export-driven economic model.
Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute following his relection.
China's decision in April to suspend exports of a wide range of critical minerals and magnets has been felt globally.
It continues to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world.
Beijing sees mineral exports as a source of leverage.
Not exporting these materials could put domestic political pressure on Trump if economic growth slows because companies cannot make mineral-powered products.
The 90-day deal to roll back tariffs and trade restrictions is threatened with tit-for-tat actions from both sides.
Trump has ordered curbs on chip-design software and other shipments to China after accusing China of violating the agreement.
Beijing rejected the claim and threatened counter-measures.
Top photos via Donald Trump Facebook & Xinhua
