A new chapter may be unfolding in the ongoing trade dispute between the world’s two largest economies. The United States and China are set to meet in London on Monday in a high-level dialogue aimed at defusing years of tension over tariffs and trade restrictions.
US President Donald Trump announced that a top American delegation will travel to the UK capital to hold talks with Chinese officials. The US team will include Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. On China’s side, Vice Premier He Lifeng has been confirmed to attend the talks.
The meeting follows a phone conversation between Trump and Chinese President Xi Jinping last week, which Trump described as “very good.” It was the first direct communication between the two leaders since the trade war reignited in February.
Last month, the US and China agreed to a temporary truce, scaling back import tariffs. The US cut duties on Chinese products to 30%, while China lowered tariffs on US goods to 10% and pledged to ease export restrictions on critical minerals. Still, both countries have since accused each other of violating the agreement.
Earlier US sanctions had targeted high-tech exports to China, while Beijing responded by limiting shipments of rare earth minerals and industrial magnets—key components in global tech supply chains.
Despite the temporary deal, China’s May export figures fell below analyst expectations. Exports in dollar terms rose 4.8% year-over-year, while imports dropped by 3.4%, a steeper decline than the predicted 0.9%.
The world now watches closely as Washington and Beijing head into what could be a turning point in their trade relations.
Reported by BBC