In an apparent effort to end the world’s two largest economies’ bitter dispute over tariffs, US President Donald Trump has announced a new round of trade talks with China.
The president announced on social media that the meeting would take place on Monday in London. His announcement came a day after a rare leader-to-leader phone call with Chinese counterpart Xi Jinping appeared to ease mounting tensions.
Trump stated in a statement on his Truth Social platform that the Chinese team should meet with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer.
Since Trump started his trade war this year, which included levies of up to 145 percent, the talks will mark the second round of negotiations between the two nations. Beijing responded with 125 percent of countermeasures.
Both parties agreed to temporarily lower the triple-digit tariffs following discussions in Geneva last month, with China’s 10% and US tariffs dropping to 30%.
Trump last week accused China of breaking the pact, which will likely come into effect in early August, bringing up deeper differences on both sides.
After the tariff war broke out, US officials have accused China of slowing down its ability to export rare earth minerals, causing concern for US businesses.
Other issues in the US include China’s export-driven, state-dominated economic model, and allegations of fentanyl trafficking.
Trump claimed on Truth Social on Wednesday that Xi was “VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH.”
He did, however, report a “positive conclusion” following his eagerly awaited phone call with Xi on Thursday, which should have pave the way for further high-level trade discussions, though it is still uncertain whether a quick fix will be reached for the tariffs impasse.
Source: Aljazeera
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