US-China Trade Talks in London Amid Tensions and Trade Agreements
Delegations from both countries prepare for negotiations to address ongoing trade disputes and future agreements.
The United States and China are set to engage in trade discussions in London, led by high-ranking officials from both governments.
The American delegation will be spearheaded by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and United States Trade Representative Jamieson Greer.
Leading the Chinese delegation will be Vice Premier He Lifeng, who previously participated in negotiations held in Switzerland.
On social media platform Truth, President Donald Trump expressed optimism about the meeting, stating, "This meeting should go well." White House Press Secretary Karoline Leavitt emphasized the desire for the two countries to build on the agreement reached in Geneva, indicating a commitment to ongoing dialogue.
The UK government has clarified that it will not be directly involved in the negotiations but supports free trade and has publicly stated that a trade war benefits no one.
A spokesperson reiterated this stance, reflecting the UK’s desire to see positive outcomes from the discussions.
This meeting follows a recent phone call between President Trump and Chinese President Xi Jinping, characterized by Trump as "very positive." Xi reportedly urged Trump to "correct the trajectory of the great ship of Sino-American relations," amidst a backdrop of escalating tensions.
Just prior, President Trump accused China of failing to adhere to the de-escalation agreement signed in Geneva.
Under the terms of the Geneva agreement, the United States agreed to reduce tariffs on Chinese goods from 145% to 30% for a period of 90 days, in exchange for China lowering tariffs on American products from 125% to 10%.
These negotiations came after President Trump's announcement earlier this month of reciprocal tariffs affecting a broad range of imports into the United States, which initially imposed a 10% tariff on all incoming goods, regardless of origin.
Chinese products faced a 34% surcharge, which compounded a preceding 20% tariff due to efforts to combat the trafficking of fentanyl, a potent opioid linked to a significant health crisis in the United States.
China responded with equivalent tariffs, resulting in a rapid escalation in trade barriers between the two nations and a marked decline in bilateral trade.
Official statistics indicate that Chinese exports to the United States fell by 12.7% in May, dropping to $28.8 billion from $33 billion in April.
In parallel, China has engaged in discussions with other trading partners, including Japan and South Korea, in an effort to establish a united front against U.S. trade policies.
On Thursday, Chinese officials reached out to Canada in an attempt to normalize relations, following a call between Chinese Premier Le Qiang and Canadian Prime Minister Mark Carney, amid ongoing tensions in bilateral relations.
Additionally, China has proposed a "green channel" to the European Union to facilitate the export of rare earth materials, aimed at expediting the processing of compliant requests.
This initiative follows talks between China's Commerce Minister Wang Wentao and European Trade Commissioner Maros Sefcovic, with a summit between the EU and China scheduled for July, which could lead to an adjustment in trade dynamics between the bloc and Beijing.
The American delegation will be spearheaded by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and United States Trade Representative Jamieson Greer.
Leading the Chinese delegation will be Vice Premier He Lifeng, who previously participated in negotiations held in Switzerland.
On social media platform Truth, President Donald Trump expressed optimism about the meeting, stating, "This meeting should go well." White House Press Secretary Karoline Leavitt emphasized the desire for the two countries to build on the agreement reached in Geneva, indicating a commitment to ongoing dialogue.
The UK government has clarified that it will not be directly involved in the negotiations but supports free trade and has publicly stated that a trade war benefits no one.
A spokesperson reiterated this stance, reflecting the UK’s desire to see positive outcomes from the discussions.
This meeting follows a recent phone call between President Trump and Chinese President Xi Jinping, characterized by Trump as "very positive." Xi reportedly urged Trump to "correct the trajectory of the great ship of Sino-American relations," amidst a backdrop of escalating tensions.
Just prior, President Trump accused China of failing to adhere to the de-escalation agreement signed in Geneva.
Under the terms of the Geneva agreement, the United States agreed to reduce tariffs on Chinese goods from 145% to 30% for a period of 90 days, in exchange for China lowering tariffs on American products from 125% to 10%.
These negotiations came after President Trump's announcement earlier this month of reciprocal tariffs affecting a broad range of imports into the United States, which initially imposed a 10% tariff on all incoming goods, regardless of origin.
Chinese products faced a 34% surcharge, which compounded a preceding 20% tariff due to efforts to combat the trafficking of fentanyl, a potent opioid linked to a significant health crisis in the United States.
China responded with equivalent tariffs, resulting in a rapid escalation in trade barriers between the two nations and a marked decline in bilateral trade.
Official statistics indicate that Chinese exports to the United States fell by 12.7% in May, dropping to $28.8 billion from $33 billion in April.
In parallel, China has engaged in discussions with other trading partners, including Japan and South Korea, in an effort to establish a united front against U.S. trade policies.
On Thursday, Chinese officials reached out to Canada in an attempt to normalize relations, following a call between Chinese Premier Le Qiang and Canadian Prime Minister Mark Carney, amid ongoing tensions in bilateral relations.
Additionally, China has proposed a "green channel" to the European Union to facilitate the export of rare earth materials, aimed at expediting the processing of compliant requests.
This initiative follows talks between China's Commerce Minister Wang Wentao and European Trade Commissioner Maros Sefcovic, with a summit between the EU and China scheduled for July, which could lead to an adjustment in trade dynamics between the bloc and Beijing.