President Trump's first meeting with Chinese President Xi Jinping reportedly made progress on trade issues with the world's largest country.

The Financial Times reported China offered to drop the ban on American beef, in place since 2003, and offered to allow foreigners to have majority stakes in Chinese investment and securities companies.

The former concession from the Chinese would allow American cattle producers to have access to a massive new market, while the Financial Times reported the latter is something that was discussed under former President Barack Obama but was received positively by Trump last week.

Trump and Xi met for two days of talks at Mar-a-Lago in Florida last week. Trump tweeted that he and Xi made progress on a personal relationship level but only time would tell about how the country's trade relationship would go.

Before the meeting, trade and dealing with North Korea were Trump's two biggest agenda items for the week.

During the campaign, Trump had often hit China for "ripping us off" on trade and not doing enough to control North Korean dictator Kim Jong Un.