"Just had a long and very good call with President Xi of China. Deal is moving along very well. If made, it will be very comprehensive, covering all subjects, areas and points of dispute. Big progress being made!" Trump wrote on his Twitter page.
According to the Xinhua news agency, Trump has also pointed out the importance of the US-Chinese relations for the whole world.
Xi has underlined the importance of the current stage in the Chinese-US relations adding that both countries' delegations are working on the implementation of the recently reached bilateral agreements.
"Hopefully, the working groups of both countries will make steps toward each other in order to reach as soon as possible the mutually beneficial agreement that will be also in the interest of the whole world," Xi said, as quoted by Xinhua.
The Chinese leader expressed a wish to develop trade, economic, military, law enforcement and anti-drug cooperation with the United States next year that will mark the 40th anniversary of the establishment of the bilateral relations.
Trump and Xi have also repeatedly exchanged opinions about the situation on the Korean Peninsula as well as on other international and regional issues of mutual interest.
The leaders have also reportedly wished each other Happy New Year.
In early December, Trump and Xi called for a truce in their escalating trade war after their meeting on the sidelines of the G20 summit in Buenos Aires.