U.S. and China officials meet in London to discuss trade dispute over critical minerals
Shreeaa Rathi | TIMESOFINDIA.COM | Jun 10, 2025, 17:42 IST
( Image credit : AP, TOIGLOBAL )
High-ranking delegates from the United States and China have convened in London to tackle escalating trade disputes. A key topic on the agenda is China's restrictions on critical minerals. This dialogue comes on the heels of a recent conversation between President Trump and President Xi, as both countries strive to reduce friction that has impacted the world economy.
Senior U.S. and Chinese officials are meeting in London on Monday to address the escalating trade dispute between the two nations, focusing on China's restrictions on critical minerals. The meeting, hosted by the United Kingdom, aims to de-escalate tensions that have impacted the global economy. Discussions follow a recent phone call between President Donald Trump and Chinese President Xi Jinping, and a prior agreement in Geneva to suspend tit-for-tat tariffs, which both countries have since accused each other of violating.
The United Kingdom is providing a venue for the discussions but will not be involved in them directly. The exact time and location of the meeting remain unknown.
“We are a nation that champions free trade and have always been clear that a trade war is in nobody’s interests, so we welcome these talks,” a British government spokesperson said.
The U.S.-China trade rift has already manifested in economic consequences. China reported a 34.5% decrease in exports to the United States in May. This marks the biggest drop since February 2020, at the beginning of the Covid pandemic, CNBC reported.
Last month, investors felt relieved when U.S. and Chinese representatives meeting in Geneva said they had reached a preliminary agreement to suspend most of the tit-for-tat tariffs they had imposed on each other’s goods. These tariffs had reached as high as 145%.
However, in recent weeks, both countries have accused each other of violating the agreement.
The new round of talks occurs four days after President Donald Trump and Chinese President Xi Jinping held a lengthy phone call. Trump said the call focused mostly on trade.
The call, which Trump said lasted about 90 minutes, was the first between the two leaders since he returned to office. They spoke a few days before his Jan. 20 inauguration.
Trump had complained a day earlier that Xi was “extremely hard to make a deal with”.
Trump then stated in a Truth Social post that the call “resulted in a very positive conclusion” for both countries.
He told reporters Friday that Xi had agreed to resume the flow of rare earth minerals and magnets to the U.S. after imposing export controls on the products. These products are crucial components for electronics, automobiles and other industries.
Trump said that his administration was “very far advanced on the China deal”. He added that the meeting Monday was about “clarification.”
The U.S. side will be represented in London by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. The Chinese delegation will be led by Vice Premier He Lifeng.
Bessent, Greer and He were all in Geneva last month.
Stocks in Asia were up Monday ahead of the talks.
The United Kingdom is providing a venue for the discussions but will not be involved in them directly. The exact time and location of the meeting remain unknown.
“We are a nation that champions free trade and have always been clear that a trade war is in nobody’s interests, so we welcome these talks,” a British government spokesperson said.
The U.S.-China trade rift has already manifested in economic consequences. China reported a 34.5% decrease in exports to the United States in May. This marks the biggest drop since February 2020, at the beginning of the Covid pandemic, CNBC reported.
Last month, investors felt relieved when U.S. and Chinese representatives meeting in Geneva said they had reached a preliminary agreement to suspend most of the tit-for-tat tariffs they had imposed on each other’s goods. These tariffs had reached as high as 145%.
However, in recent weeks, both countries have accused each other of violating the agreement.
The new round of talks occurs four days after President Donald Trump and Chinese President Xi Jinping held a lengthy phone call. Trump said the call focused mostly on trade.
The call, which Trump said lasted about 90 minutes, was the first between the two leaders since he returned to office. They spoke a few days before his Jan. 20 inauguration.
Trump had complained a day earlier that Xi was “extremely hard to make a deal with”.
Trump then stated in a Truth Social post that the call “resulted in a very positive conclusion” for both countries.
He told reporters Friday that Xi had agreed to resume the flow of rare earth minerals and magnets to the U.S. after imposing export controls on the products. These products are crucial components for electronics, automobiles and other industries.
Trump said that his administration was “very far advanced on the China deal”. He added that the meeting Monday was about “clarification.”
The U.S. side will be represented in London by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. The Chinese delegation will be led by Vice Premier He Lifeng.
Bessent, Greer and He were all in Geneva last month.
Stocks in Asia were up Monday ahead of the talks.