Senior officials from the United States and China will continue trade talks today, Tuesday, in London, aiming to reach an agreement on export controls—particularly concerning rare metals that are crucial for sectors such as automotive, semiconductors, and defense.
These materials have disrupted global supply chains and contributed to the slowdown in global economic growth.
The talks follow a preliminary trade agreement reached in Geneva last month and come at a critical time for the world’s two largest economies, as trade tensions have resurfaced.
China’s exports to the U.S. dropped by 34.5% last month, marking the steepest decline since February 2020, when the COVID-19 pandemic first broke out.
On the first day of negotiations, the delegations met at Lancaster House in London to address issues that remained unresolved after the Geneva agreement. The U.S. delegation is led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer. The Chinese delegation is headed by Vice Premier He Lifeng.
There are high hopes that a new agreement could improve trade relations and ease tensions between the two leading global economic powers.
