High-level delegations from the United States and China convened in London today in a renewed attempt to stabilize a fragile ceasefire in their prolonged trade dispute an economic standoff that has rippled across global markets for over a year.
Leading the Chinese delegation is Vice Premier He Lifeng, who is meeting with key American officials including U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Trade Representative Jamieson Greer. The discussions are being hosted at a United Kingdom government facility, although U.K. officials have stated they are not active participants in the negotiations.
The talks follow last month’s temporary breakthrough in Geneva, where both superpowers agreed to a 90-day suspension of more than 100% reciprocal tariffs that had been imposed during the escalating trade war. The truce, announced on May 12, was seen as a vital measure to calm investor fears and ward off a looming global recession.
Despite the agreement, tensions have remained high. Chinese export data revealed a staggering 35% drop in shipments to the United States in May compared to the previous year. Meanwhile, disagreements continue over critical technology and resources, including advanced semiconductors used in artificial intelligence systems, rare earth elements essential to automotive and electronics industries, and visa restrictions for Chinese students in American institutions.
The diplomatic thaw comes after a phone conversation last Thursday between U.S. President Donald Trump and Chinese President Xi Jinping. Trump later confirmed on social media that trade talks would resume in London, signaling cautious optimism for a potential resolution.
The United Kingdom, while providing logistical support for the meetings, emphasized its neutral stance. British Treasury Chief Rachel Reeves held courtesy meetings with both delegations on Sunday.
“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 statement from the British government read.
Analysts suggest the London meetings could be pivotal in determining whether the world’s two largest economies can transition from confrontation to cooperation or slide back into a disruptive cycle of retaliatory measures.
The talks are expected to continue through Tuesday, with both sides under pressure to deliver tangible progress.
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