London: A new round of trade talks aimed at resolving the ongoing trade war between the United States and China is scheduled to take place in London.
US President Donald Trump announced that a senior delegation from the US would meet with Chinese representatives, a plan Beijing confirmed over the weekend by revealing that Vice Premier He Lifeng will attend the talks.
These announcements follow a recent phone conversation between Trump and Chinese President Xi Jinping, which Trump described as a ‘very good talk’ resulting in a ‘very positive conclusion for both countries.’
Last month, the two largest economies in the world agreed to a temporary truce designed to reduce import tariffs on traded goods. The US lowered its tariffs on Chinese products to 30 percent, while China cut levies on US imports to 10 percent and pledged to remove barriers on exports of critical minerals.
This agreement set a 90-day deadline for both parties to work toward a comprehensive trade deal. However, tensions have since resurfaced, with each side accusing the other of violating the terms. Trump claimed China ‘totally violated its agreement,’ while China responded by saying the US had “severely violated” the pact.
Trump has detailed on his Truth Social platform that US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer would lead the delegation meeting Chinese officials in London.
Meanwhile, China’s foreign ministry announced that Vice Premier He would be in the UK from June 8 to 13 for discussions under the ‘China-US economic and trade mechanism.’
The renewed talks come after the first direct phone conversation between Trump and Xi since the trade war began in February, a conflict triggered by Trump’s sweeping tariffs on imports from several countries, with China being the hardest hit.
Beijing retaliated with its tariff increases, leading to tit-for-tat measures that escalated to a peak of 145 percent tariff rates. The May talks held in Switzerland had led to what Trump called a ‘total reset,’ bringing down tariffs and promising to ease trade restrictions, especially on rare earth minerals vital to car manufacturing and tech industries.
Despite China approving some export licenses for rare earth minerals, the volume of shipments remains below the levels agreed upon in Geneva. White House National Economic Council Director Kevin Hassett said that while the exports of critical minerals have increased, they have not yet reached the expected levels.
The US accuses China of failing to fully restart shipments of these key materials, a claim China has neither confirmed nor denied in detail.
The recent phone call focused largely on trade issues, with Xi reportedly urging the US to withdraw the ‘negative measures’ imposed against China. The upcoming London talks are a crucial step in attempting to de-escalate tensions and progress toward a lasting trade agreement between the two global economic powers.
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