Trump: 'Very far advanced' on China agreement ahead of Monday discussions
ByAinvest
Friday, Jun 6, 2025 6:10 pm ET1min read
Trump: 'Very far advanced' on China agreement ahead of Monday discussions
United States President Donald Trump has announced that a new round of trade talks with China will take place in London on Monday, June 9, 2025. The announcement comes after a 90-minute phone conversation between Trump and Chinese President Xi Jinping, which was aimed at easing tensions in the ongoing tariff dispute [1].Trump stated that the meeting should go "very well," and that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer will be meeting with a Chinese delegation in London [1]. The announcement was made one day after the phone call between Trump and Xi, which was described as productive and resulted in a "very positive conclusion for both countries" [1].
The talks are expected to focus on the trade deal reached in Geneva last month, which saw the U.S. drop tariff rates on Chinese goods from over 145% to 30% and China lower its levy on U.S. goods from 125% to 10% [3]. However, the agreement has since begun to fray, with both sides accusing each other of non-compliance [1].
Trump has accused China of violating the agreement, while Beijing has dismissed the allegations as "groundless" and threatened countermeasures to defend its economic interests [1]. The U.S. and China are also using their control over key materials, such as rare earth exports, to gain control in the trade war [2].
The new round of talks comes as the U.S. is pushing countries to speed up trade talks and as Trump's most sweeping tariffs face legal uncertainty [2]. The federal appeals court allowed the tariffs to temporarily stay in effect after the US Court of International Trade blocked their implementation, deeming the method used to enact them "unlawful" [2].
References:
[1] https://www.turkiyetoday.com/world/fresh-us-china-trade-talks-set-for-london-on-june-9-says-trump-3202495
[2] https://ca.finance.yahoo.com/news/trump-tariffs-live-updates-trump-xi-jinping-speak-at-last-as-us-and-china-lean-on-key-exports-in-trade-fight-191201147.html
[3] https://abcnews.go.com/Politics/trump-chinas-xi-spoke-phone-chinese-state-media/story?id=122531464
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