Following a telephone conversation between U.S. President Donald Trump and his Chinese counterpart Xi Jinping, a potential breakthrough is anticipated in the trade dispute between the two global powers. Trump announced that discussions between delegations from both countries are expected today.
According to a statement from President Trump, senior officials from the U.S. and China will meet on Monday in London for further trade talks. The American delegation will be led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, Trump wrote on his Truth Social platform. The U.S. President expressed optimism, stating: “the meeting is expected to go very well.”
Phone Call with Xi Jinping
Trump agreed to this new round of talks during a phone call held on Thursday (June 5) with Chinese President Xi Jinping. According to President Trump, the discussions aim to discuss the details of a trade agreement reached in May between the world’s two largest economies.
Following the phone call between the two presidents, China’s reaction was more reserved, urging the U.S. to adhere to the mutual conditions and rules included in the agreement. Beijing stated that the Chinese side has implemented the agreement seriously and conscientiously.
De-escalation Efforts
Since taking office, Trump has pursued a tough course in trade policy towards China. At one point, the Republican even increased punitive tariffs on Chinese imports to the U.S. to a staggering 145 percent, to which Beijing responded with counter-tariffs. In mid-May, both sides agreed at a meeting in Switzerland to halt the escalation spiral and, at least temporarily, agreed to a mutual reduction of punitive tariffs.
