Business
U.S. and China to Hold Economic Talks in London
Top American economic officials will meet with their Chinese counterparts next Monday in hopes of breaking a trade stalemate, President Trump said.
President Trump said on Friday that the United States and China would begin their second round of economic talks on Monday in London, resuming negotiations over tariffs and global supplies of rare earth minerals that have begun to threaten the global economy.
The American delegation will be led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Jamieson Greer, the United States trade representative, Mr. Trump said in a post on Truth Social. It was not immediately clear who would represent China, but He Lifeng, China’s vice premier for economic policy, led the previous round of talks in Switzerland.
The announcement of renewed talks came days after Mr. Trump held a call with Xi Jinping, China’s president, that was intended to break a deadlock that was poised to derail a trade truce that the countries reached in early May in Geneva. Under that truce, the United States reduced Mr. Trump’s tariff on Chinese imports to 30 percent from 145 percent, and China lowered its import duty on American goods to 10 percent from 125 percent.