Top level bureaucrats from the United States and China will meet in London later today for round two trade talks as a 90-day tariff pause between the nations ticks away.
Three of U.S. President Donald Trump's senior aides are set to engage in high-stakes trade discussions with their Chinese counterparts to address the ongoing trade dispute between the world's two superpowers.
President Trump announced the meeting via his Truth Social platform, sending U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer to represent the administration in negotiations.
China's Foreign Ministry has confirmed that Vice Premier He Lifeng will be in the United Kingdom from June 8 to June 13. During this visit, the first session of the China-U.S. economic and trade consultation mechanism is scheduled to take place.
President Trump expressed optimism about the upcoming talks, stating that “the meeting should go very well".
The discussions follow a rare phone call between President Trump and Chinese President Xi Jinping on Thursday, aimed at de-escalating tensions over trade and critical minerals. Both leaders agreed to visit each other and instructed their teams to initiate talks in the interim.
The global economy faces mounting pressure as China maintains its dominant position in rare earth mineral exports, while the U.S has restricted the Middle Kingdom's access to key technologies.
Investors remain anxious about President Trump's broader strategy to impose tariffs on goods from most U.S. trading partners.
On May 12, the two countries reached a preliminary 90-day agreement in Geneva to roll back some of the extensive tariffs imposed since Trump's return to office in January.
The deal sparked a global rally in stock markets, with U.S. indexes recovering much of their losses.
That three-month reprieve is quickly running out - and if these talks were to stall any progress, it could trigger another market sell-off.
