Trump revealed Thursday that he had spoken with Xi on several subjects, but focused on trade.
"It is possible some good positive things could - I say could - come out of President Trump-President Xi talks".
Though final decisions have not been made, USA officials are preparing for such a scenario in case a planned Trump-Xi meeting yields no progress on the sidelines of a Group of 20 summit in Buenos Aires in November, according to the report.
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Trump said he and Xi also had "a good discussion on North Korea".
White House economic adviser Larry Kudlow downplayed reports President Donald Trump may implement more tariffs on China as the two nations' trade battle escalates. Earlier this year, the Trump administration imposed tariffs on $250 billion worth of Chinese goods, prompting Beijing to retaliate.
"We do hope that China and the United States will meet each other halfway and work together in the spirit of mutual respect and equality", Li told Trump's fellow Republicans.
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Earlier on Thursday, Chinese Premier Li Keqiang told a group of visiting US politicians that China and the United States could overcome their differences and get relations back on track if they worked together in a spirit of mutual respect. He said China wanted to make a deal, adding, "They are not doing well". If you look at their economy, the Chinese economy is not doing well. And we're doing very well.
US President Trump said trade talks with China were "moving along nicely".
Meeting a group of Republican lawmakers in Beijing, China's Li noted the China-U.S. relationship's "ups and downs" over the past four decades of diplomatic ties.
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