Three top White House officials will meet with Chinese trade representatives in London on Monday, President Donald Trump announced on Friday afternoon, as trade tensions seemed to cool between the two giants.
This follows a long-overdue, 90-minute conversation Trump had with Chinese President Xi Jinping on Thursday — their first discussion since the U.S. president returned to office more than four months ago. Chinese state media reported that Trump initiated the call. The president said the chit-chat yielded “a very positive conclusion” for both countries.
Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will be representing the U.S. in London.
This apparent rapprochement follows accusations from both sides that the other country violated a May 12 truce negotiated in Geneva, which halted retaliatory tariff volleys between the two that veered as high as 145%.
Trump was under particular pressure from American auto suppliers, who wrote a letter decrying Chinese export controls, particularly the rare-earth magnets that are essential to key components including brakes and steering mechanisms — as well as semiconductors used in smartphones and laptops.
China produces 90% of the global supply of those rare-earth materials, meaning the U.S. auto industry would be crippled without them.
—Joseph Zeballos-Roig contributed to this article.
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