Smackdown in the British Capital: China and USA Consort Over Trade Brawl
U.S.A. and China carry on negotiations in London, according to state-owned media reports - Dialogue between China and U.S. persists in London as per the report from state media.
In the heart of the action, it's London, where China and the USA are entwined in negotiations to quell their trade row, according to state-backed Chinese media. Though specifics about the meeting time are scarce, buzz in the air anticipates the tête-à-tête to take place in the early hours of the morning (GMT+1), as per U.S. officials.
The grand Lancaster House in the city serves as a battleground for representatives of the two economic juggernauts. Heading the charge? US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick on one side, accompanied by Chinese Vice Premier He Lifeng and Commerce Minister Wang Wentao repping the communist government.
The Big Sticking Points
The dust hasn't settled on any noteworthy outcomes from the session held on Monday afternoon (local time). Economic advisor to the U.S. President Donald Trump, Kevin Hassett, indicated the meeting would entail a brisk handshake. Despite the bravado, Trump assured in Washington that the USA is thriving vis-à-vis China. "I'm just getting positive vibes," he quipped.
Remember the Geneva truce in November? Both parties agreed then to halt the escalating tariff war for 90 days and reduce tariffs. However, with the current round of talks, it appears trade restrictions are the elephant in the room.
The thorny issue of China's rare earth export regulations is causing concern worldwide, including the United States. The U.S. aims to relax these export controls with loosened trade restrictions in return, perhaps in sectors like computer chips or aviation components, where China heavily relies on foreign tech.
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- Donald Trump
- Chinese Rare Earths
- Washington
The trade talks between the USA and China are taking place in London, with key officials from both economic superpowersPresent, including US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick for the USA, and Chinese Vice Premier He Lifeng and Commerce Minister Wang Wentao for China.
While specifics about the meeting's outcome remain uncertain, the agenda is expected to address ongoing trade restrictions, particularly concerns over China's rare earth export regulations, which have been causing a stir globally, including in the USA. The discussions could potentially lead to the relaxation of these export controls in exchange for looser trade restrictions in sectors such as computer chips or aviation components, where China heavily depends on foreign technology.
