US, China Trade Talks Resume in London
(MENAFN) A fresh round of trade negotiations between the United States and China commenced on Monday in London, with the goal of reaching a resolution.
The discussions are aimed at addressing the long-standing tensions between the two nations.
A prominent US delegation, led by Commerce Secretary Howard Lutnick, joined by key Chinese officials, including Vice Premier He Lifeng – who serves as Beijing's chief trade negotiator – gathered at Lancaster House in the British capital.
During these talks, key topics such as tariffs and trade restrictions will be high on the agenda. Specific issues expected to be discussed include China's rare earth exports and its access to US products, particularly computer chips.
These discussions are part of the first meeting of the China-US Economic and Trade Consultative Mechanism, which is intended to help bridge the gap between the two countries' economic policies.
The meeting follows a significant announcement by United States Leader Donald Trump on Friday.
He revealed that US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer, and Secretary Lutnick will participate in the talks.
Just a day before, Trump had spoken by phone with Chinese President Xi Jinping, and later stated that the conversation "resulted in a very positive conclusion for both countries," as both sides strive to settle their extensive trade dispute.
For a long time, the US had been advocating for a direct conversation between the two leaders, aiming to demonstrate that Trump's firm trade approach was yielding positive outcomes.
Other nations have also expressed interest in reaching similar agreements.
Kevin Hassett, director of the White House National Economic Council, expressed his expectation that China would increase its rare earth mineral exports to the US.
"The US expectation was that 'immediately after the handshake, any export controls from the US will be eased, and the rare earths will be released in volume, and then we can go back to negotiating smaller matters,'" he remarked during an interview on Monday.
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