US and China to Hold High-Level Trade Talks in London
The US and China are set to hold high-level trade talks in London on June 9, 2025, as announced by US President Donald Trump. The US delegation will include the Secretary of the Treasury, Secretary of Commerce, and the US Trade Representative. President Trump expressed optimism about the meeting, following a "good conversation" with Chinese President Xi Jinping, aimed at resolving ongoing trade disputes and discussing their existing trade deal.
Unpacked:
The main issues involve tariffs imposed by both countries and competition over critical minerals. Both sides have paused retaliatory tariffs for 90 days as of May 2025, but remain at an impasse regarding long-term solutions and market access concerns.
The US delegation will include Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer. Their roles are crucial as they oversee economic policy, trade regulations, and negotiations, directly shaping US trade strategy with China.
The talks follow a “very positive” phone call between President Trump and President Xi Jinping, as well as a 90-day agreement in May 2025 to pause mutual tariffs. These steps were intended to create a more favorable environment for resolving ongoing trade disputes.
US-China trade talks impact global markets due to the size and influence of both economies. Progress or setbacks can affect global supply chains, commodity prices, and economic growth, particularly in sectors reliant on exports, critical minerals, and technology.