Trade negotiations start between US, China
(MENAFN) A new round of trade negotiations between the US and China started Monday in London at Lancaster House, involving senior officials including US Commerce Secretary Howard Lutnick and China’s Vice Premier and chief trade negotiator He Lifeng.
The talks focus on resolving months of trade tensions, covering tariffs, trade restrictions, and particularly China’s exports of rare earth elements and access to US products like computer chips. These issues are central to the China-US Economic and Trade Consultative Mechanism’s first meeting.
The talks follow a phone call between US President Donald Trump and Chinese President Xi Jinping, which Trump described as having a "very positive conclusion for both countries."
Kevin Hassett, director of the White House National Economic Council, said he expects China to increase rare earth mineral exports to the US soon, with the easing of export controls as an immediate goal, allowing negotiations to then focus on smaller issues.
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