Senior U.S. and Chinese officials are set to resume trade talks for the second consecutive day in London, with hopes of reaching an agreement on export controls, particularly concerning vital rare earth metals.
This follows a meeting between officials from both countries yesterday at Lancaster House in the British capital to discuss trade disputes, with talks scheduled to continue on Tuesday morning.
The U.S. delegation is led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, while the Chinese side is headed by Vice Premier He Lifeng.
This comes after both sides reached a trade truce in Geneva in May, during which they agreed to reduce tariffs on each other’s imports and resume negotiations to reach a broader agreement.
Data released yesterday showed that China’s exports to the United States declined by 34.5% in May, marking the steepest drop since February 2020, when the COVID-19 pandemic disrupted global trade
