Charles Ventura

USA TODAY

Corrections and Clarifications: A previous version of this article misstated details about the "One China" policy and the timeframe of when the U.S. recognized Beijing's position that the island of Taiwan is part of China.

President Trump spoke to Chinese President Xi Jinping for the first time since taking over the White House late Thursday, agreeing to honor the long-standing "One China" policy.

The White House, which described the conversation as "extremely cordial," said Trump will honor Xi's request that requires the U.S. to maintain unofficial ties with Taiwan, China's rival. The White House also added that both Trump and Xi extended invitations to meet in their respective countries and looked forward to future conversations.

The phone call may alleviate concerns that Washington is intent on shifting its relationship with Beijing. China claims Taiwan as its own territory.

Following his election win in November, Trump riled up U.S.-China relations after taking a congratulatory call from Taiwan's leader Tsai Ing-wen. Describing the conversation with Trump as "a way for us to express our respect for the U.S. election," he told USA TODAY that the call did not signal a change in policy.

After accepting the congratulatory call, Trump said he would not be bound by the "One China" policy that has guided U.S.-China relations for 40 years. When Beijing complained about the conversation with Taiwan, Trump criticized China for devaluing its currency to hurt U.S. imports and building "a massive military complex in the middle of the South China Sea."

The U.S. recognition of a "One China" policy stems from 1979, when the U.S. switched diplomatic recognition from Taiwan to the People's Republic of China (PRC). In the 1979 U.S.-P.R.C. Joint Communique, the United States recognized the communist leadership in Beijing as the sole legal government of China, acknowledging the Chinese position that there is one China and Taiwan is a breakaway province that is part of China.

OK, so just what is the U.S.'s 'One China' policy?

Taiwan maintains a de facto embassy in Washington, D.C., under the pretense of an economic and cultural representative office located at its former Republic of China ambassadorial residence, Twin Oaks.

READ MORE:

'One China' policy: What is it and why it's sparking ire for Trump

Taiwan: Trump call was not China 'policy shift'

China: Trump’s Taiwan comments spark ‘serious concern’

Contributing: David Jackson and Donna Leinwand Leger